French Businessman Detained for Stealing €1.2 Million in Crypto From His Partners

An investigation launched on the request of a French startup has led to the indictment of a 37-year-old entrepreneur accused of stealing 182 BTC from the company he cofounded. Embezzlement of money is one the charges brought against him by the public prosecutor’s office in Paris.

Also read: Russia’s Supreme Court Recognizes Tokens as Assets Like Money and Property

Another Case Affirms the Money Status of Cryptocurrencies

Most European governments are yet to legalize and regulate cryptocurrencies. The process is starting to take shape and form with the implementation of the FATF standards and the transposition of EU’s Fifth Anti-Money Laundering Directive (AMLD5) into national legislations. Laws that go beyond pure AML rules are also likely to be adopted and some crypto-friendly jurisdictions have already done that.

In the meantime, real life events are forcing authorities to deal with the phenomenon and acknowledge some of its basic…