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For the second straight month, Bloomberg Tax has published a guest article by Michael B. Cohen, Vice President of Global Operations at MyChargeBack. In it he explains why as decentralized finance, or DeFi, has become increasingly popular, the lack of regulation has provided numerous opportunities for abuse.
Non-fungible tokens (or NFTs) are an exciting way to create a market for ideas or artwork online. Precisely because they are non-fungible, NFTs are unique and cannot be exchanged. That makes them ideal for artists who want to sell their work and protect their intellectual property. However, in the brave new world of the blockchain, things often do not turn out as planned. NFTs may help owners leave their distinctive mark but can compromise privacy. Evan Spicer, Director of Cryptocurrency Investigations at MyChargeBack, explains why in this new Industry Insight, entitled Are NFTs Compromising Your Privacy on the Blockchain?
Cryptocurrency, with its pseudo-anonymous bitcoin wallets and lack of identifying information on the blockchain, has served as a new haven for trading frauds to the point where digital currency has surpassed bank wire transfers as the method of choice for funding brokerage accounts. In fact, many trading schemes don’t allow other methods – such as credit cards or online payment platforms, to be used by clients to make deposits. Find out why in Does Cryptocurrency Trump Bank Wires in Trading Frauds?, a new Industry Insight by Judith Dayan Persson, Vice President of European Operations and Business Development at MyChargeBack.
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