Mama Bitcoin is the pseudonym claimed by a young Senegalese Bitcoiner called Bineta. Her business, Bleu comme la mer, was the first retailer in Senegal (and possibly West Africa) to accept crypto as payment. She’s also the first generation of her family to read and write proficiently. The name Mama Bitcoin takes inspiration from the initials of her name, while the “mama” not only reflects her motherly instincts but serves to inspire other women in West Africa to get into blockchain technology and Bitcoin (BTC). She told Cointelegraph: “There are very few women that are active in the blockchain space …

Blockchain Australia — the industry body for the novel tech in the country — has expelled Qoin, a retail merchant crypto project based in Gold Coast, Queensland. According to a notice of disciplinary action issued on Feb. 19, Blockchain Australia initially served Qoin with a summons to respond on Jan. 29. After the summons, Blockchain Australia expelled the project from its membership ranks. Detailing its decision, the notice reads: “On 17 February 2021, the Board of Blockchain Australia, having considered the Notice and the Response and the circumstances of the matter, resolved, pursuant to the Constitution, to terminate the Member’s …

South African regulators are seeking to exercise more control over cryptocurrency trading following the collapse of what was alleged to be the largest Ponzi scheme the country has ever seen. Self-proclaimed Bitcoin (BTC) trading firm Mirror Trading International was placed in provisional liquidation in December 2020 as investors tried and failed to withdraw their funds. The firm claimed to have attracted over 260,000 memberships worldwide, handling a reported 23,000 Bitcoin — a sum now worth in the region of $716 million. However, an investigation by the Financial Sector Conduct Authority revealed the firm kept no accounting records, nor any kind …

The operators of a global cryptocurrency-based Ponzi scheme have been charged with fraud and money laundering following a United States Homeland Security Investigations probe. According to an announcement from the U.S. Department of Justice, four of the five alleged operators of AirBit Club, which allegedly netted tens of millions of dollars from victims, were arrested and due to appear in court on Aug. 18, while the fifth was arrested in Panama and is awaiting extradition to the U.S. The scheme was launched in late 2015 and sold as a multi-level marketing club in the cryptocurrency industry. The defendants purportedly hosted …

The Texas State Securities Board has shut down the activities of a South African multi-level marketing scheme involving cryptocurrency investments in the state. In a recent statement, Securities Commissioner Travis J. Iles said that the company has duped investors into sending them Bitcoin (BTC), which would supposedly be transferred to unidentified forex brokers for automated trading using artificial intelligence. According to the statement, Mirror Trading International PTY LTD recruited unregistered salespersons to lure investors to invest money for a return of 10% per month. The salespersons were supposed to promote the scheme and onboard new investors and multilevel marketers to …