Cryptocurrency exchange

The test period begins in October

The total assets allegedly seized by a runaway cryptocurrency exchange platform founder in Turkey amount to around $108 million, according to the Turkish interior minister.

Thodex founder Faruk Fatih Özer fled to Albania after the crypto platform abruptly shut down on April 19, effectively obstructing control of nearly 400,000 customer accounts.

The European Commission has sent legal warnings to Cyprus, Portugal, the Netherlands and five other EU states over their delays in applying new anti-money laundering rules adopted at European Union level two years ago.

RGCoins, a small-scale Bitcoin exchange service based in Bulgaria, is under an investigation. The exchange's founder, Rossen Yossifov, is facing extradition to the US and a trial, as the firm was seen to be instrumental in helping a money-laundering group, reported Bulgarian media.

As the popularity of cryptocurrencies grows, so the legislation of the crypto industry develops too. Some states have their vision concerning digital currencies and are actively working on their implementation and adoption, while others are contra, fearing for security and considering crypto to be a threat.