Tether stablecoin issuer and Tron launch financial crime unit

Tron, the largest network for the USDT stablecoin, will provide its technical expertise to identify and freeze illicit USDT transactions within the new financial crime unit.

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Bill targeting illicit use of crypto passes US House: Law Decoded

Legislation focuses on preventing illicit cryptocurrency activities while safeguarding consumer choice.

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Nigerian official advocates blockchain, AI against illicit financial flows

The financial watchdog chair said that if recovered, the funds could significantly enhance infrastructure, healthcare and education across the continent.

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Proposed US Blockchain Integrity Act would ban crypto mixers for 2 years

The bill introduced in the House would impose a fine of up to $100,000 for handling funds from mixers, while the Treasury writes a report.

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Nigerian stakeholders demand Binance reveal identity of bribery official

SIBANs executive secretary, Rume Ophi, stressed that Binance should reveal names to substantiate the claim and allow authorities to address wrongdoing.

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US Treasury strategy would tighten virtual asset regulations, increase AI use

The Treasurys fight against illicit finance will focus on better regulations, greater enforcement and AI.

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Crypto Crackdown: $8 Billion Laundered Through Xinbis Marketplace Exposed

Key Takeaways In the increasingly complex world of cybercrime, marketplaces based on the Telegram messaging app are supplanting the more established darknet platforms. A prime example is Xinbi Guarantee, a vast operation entrenched in illicit finance with its nominal headquarters in Colorado, USA. In spite of apparently legitimate incorporation as Xinbi Co., Ltd in August […]

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Colorado Incorporates Xinbi, an $8B Illicit Crypto Market, Says Elliptic

The underground world of cryptocurrencies is buzzing with the emergence of Xinbi, a Colorado-based firm operating on the crypto black market. This clandestine organization is making waves in the digital underworld with its innovative approach to buying and selling encrypted assets. Xinbi is revolutionizing the way individuals trade cryptocurrencies by offering a secure platform for [...]

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South Korea Authorities Investigate Crypto Hacking and Illicit Trading on Exchanges

South Korea authorities are investigating cryptocurrencies hacking and illicit trading, focusing on cracking down on such practices, raising concerns about potential consequences for those involved. (Read More)

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Navigating the Crossroads of THORChain: Balancing Decentralization and Combatting Illicit Activity

While Thorchain faces a pivotal moment at the intersection of decentralized finance and criminal activities, the project’s future hangs in the balance. The platform’s recent struggles with illicit transactions have raised concerns among users and regulators alike. Thorchain’s unique decentralized exchange model allows users to swap cryptocurrencies directly without a centralized intermediary. This novel approach [...]

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Bitcoin no longer crypto of choice for illicit crypto activity: TRM Labs

While fiat channels remain the dominant tool for criminal financing, Bitcoin appears to have fallen out of favor for criminals as far as cryptocurrencies go.

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Biden Administration’s Economic Report Deems Crypto Assets ‘Mostly Speculative Investment Vehicles’

On Monday, U.S. president Joe Biden published the administration’s economic report and addressed the subject of cryptocurrencies. The section titled “The Perceived Appeal of Crypto Assets” describes the currencies as “mostly speculative investment vehicles” that are “unbacked” and “traded without fundamental anchors.” The White House insists that crypto assets do not deliver on their promises [...]

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Crypto Scam Revenue Has Dropped by 65% in 2022: Chainalysis

Illicit crypto volumes have been diminishing year-over-year, with scams taking the lion’s drop share, according to a report by blockchain analytic firm Chainalysis. (Read More)

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AUSTRAC releases 2 new guides to help spot illicit crypto use

AUSTRAC also urged financial institutions from debanking clients who may be engaged in suspicious account activity, as a mistake could be costly to “Australia’s economy.”

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The U.S. Treasury Confirms That We Can Remove “Illicit Activity” From The Bitcoin FUD Dice

With the U.S. Treasury recently indicating that bitcoin and altcoins aren’t used for significant illicit activity, it’s time to change the narrative.

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U.S. Treasury Confirms We Can Remove 'Illicit Activity' From Bitcoin FUD Dice

With the U.S. Treasury recently indicating that bitcoin and altcoins aren’t used for significant illicit activity, it’s time to change the narrative.

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4% of crypto whales are criminals and they have $25B between them: Chainalysis

The report defines criminal whales as private wallets that hold more than $1 million worth of crypto with more than 10% of their balances coming from illicit addresses.

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Founder of Crypto Exchange Bitzlato Denies US Charges

The founder of cryptocurrency exchange Bitzlato has denied guilt in a money laundering case in the United States. Anatoly Legkodymov was arrested in Miami, in mid-January, for his role in running the trading platform which allegedly processed over $700 million in illicit funds. Bitzlato Founder Legkodymov Appears in US Court Anatoly Legkodymov, one of the [...]

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US gov files complaints to seize assets from North Korean hackers

According to PeckShieldAlert, losses from crypto hacks and exploits accounted for over $120 million in losses during September 2024.

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Telegram to open an office in Kazakhstan, boost regulatory compliance

Telegrams agreement to set up an office in Kazakhstan aligns with the firms increasing compliance efforts as its CEO remains in France amid an ongoing investigation.

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