Hong Kong Source: Blockchain News
Sep 28, 2024 02:15

Tether Assists in Major Crypto Money Laundering Bust with Dutch Authorities and U.S. Secret Service


Tether aids Dutch FIOD, NHCTU, and U.S. Secret Service in dismantling cryptocurrency exchanges involved in money laundering. (Read More)

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Author: Cointelegraph by Derek Andersen
United States Source: Cointelegraph.com News
Sep 27, 2024 12:00

US sanctions Russian crypto platforms for money laundering ties

Two crypto exchanges and two individuals have been sanctioned for ties to underground finance.

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Author: Cointelegraph by Zoltan Vardai
United States Source: Cointelegraph.com News
Sep 03, 2024 12:00

Binance execs trial brought forward despite no access to legal counsel 

Amid multiple alleged money laundering charges, the Nigerian government claims that Binance was responsible for the decline of its naira currency.

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Author: Cointelegraph by Vince Quill
United States Source: Cointelegraph.com News
Sep 15, 2024 12:00

Chinese gov't mulls anti-money laundering law to 'monitor' new fintech

According to the Chinese government, 1,391 individuals have been prosecuted on money laundering-related charges in the first half of 2024.

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Author: Cointelegraph by Vince Quill
United States Source: Cointelegraph.com News
Sep 16, 2024 12:00

Chinese govt mulls anti-money laundering law to monitor new fintech

According to the Chinese government, 1,391 individuals have been prosecuted on money laundering-related charges in the first half of 2024.

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Author: Wayne Jones
Bulgaria Source: CryptoPotato
Sep 12, 2024 01:00

Ripple CLO Criticizes US Regulators for Using Crypto as Scapegoat in Money Laundering Scandals

Despite crypto being blamed for illicit activities, critics argue that traditional banks launder far more money annually.

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Author: Cointelegraph by Derek Andersen
United States Source: Cointelegraph.com News
Sep 11, 2024 12:00

Owner of unlicensed UK crypto ATM network faces criminal charges

The FCA is throwing the book at the head of Gidiplus Limited for operating an ATM network after being denied registration.

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Author: Christian Encila
United Kingdom Source: NewsBTC
Aug 10, 2024 12:05

OKX Takes Action: Accounts Involving Tornado Cash To Be Banned

The cryptocurrency exchange OKX has announced a firm policy banning accounts linked to the questionable mixing service Tornado Cash in an attempt to prevent illicit activity and promote compliance with international laws. According to OKX CEO Star Xu, any account found to be exploited by Tornado Cash or other authorized firms like Garantex would be cancelled without delay. okx 1. Garantex Tornado cashokx 2. okx https://t.co/MTJ7OtQRny Star (@star_okx) August 9, 2024 Tornado Cash Controversy Tornado Cash is recognized for hiding crypto transactions, which unscrupulous people exploit to launder money and commit other crimes. The firm is under more regulatory scrutiny after the US Treasury Department penalized it in 2023 for allowing over $7 billion in unlawful transactions. Related Reading: Bitcoin NVT Golden Cross Gives Bottom Signal: What Happened Last 2 Times OKX Compliance Measures Nowadays, OKX’s risk control systems are programmed to automatically find and close accounts linked to Tornado Cash or another approved company. Xu underlined that the interaction is necessary to follow relevant sanctions rules, particularly those enforced by the United States. OKX’s Tornado Cash crackdown follows allegations of the service sending stolen money via protocol attacks. On August 7, the Rain crypto exchange hacker laundered 1,155 Ether using Tornado Cash. #okx #urgent ALL @okx EXCHANGE USERS ARE AT RISK Since 2019, I have been a partner of the OKX exchange, recommended it to you and actively used it myself. Until today, it worked honestly and stably. But today, I regret to admit that the exchange policy and all the pic.twitter.com/fQiDRj6aHO Satoshi Friends (@slezisatoshi) August 8, 2024 Response To User Concerns Xu said that the user has before made large transactions via approved exchanges or DeFi systems. The individual was still allowed to withdraw clean money before their account was banned nonetheless. Emphasizing that OKX cannot provide services to sanctioned individuals or companies, Xu clarified that compliance concerns made it impossible to move data from an old account to a new one. Xu informed the wider user base that most consumers operate distant from approved businesses, hence most of them are unlikely to be harmed. He underlined that preserving the commitment of the exchange to financial integrity and regulatory compliance depends on these steps. Related Reading: Dogecoin Price (DOGE) Poised for a Steady Increase, Inspired by Bitcoin Impact On Tornado Cash OKX’s deactivation of Tornado Cash accounts follows a crypto industry trend towards regulatory compliance and legality. Binance and Kraken both delist privacy coins and prohibit mixing. Roman Semenov, Alexey Pertsev, and Roman Storma trio of Russian immigrants living in Europefounded Tornado Cash in 2019. Pertsev was sentenced to five years in jail in May 2024 for breaking anti-money laundering regulations with transactions utilizing Tornado Cash. Featured image from Pexels, chart from TradingView

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Author: Chayanika Deka
Bulgaria Source: CryptoPotato
Sep 01, 2024 01:00

Crypto ATMs Process $160M in Illicit Funds Since 2019, Says TRM Labs

Crypto ATMs are more vulnerable to fraud and money laundering due to weaker KYC and AML protocols, as per a new report.

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Author: Kashif Saleem
Estonia Source: TronWeekly
Aug 23, 2024 02:30

Binance and Former CEO CZ Face Class-Action Lawsuit Over Alleged Money Laundering

Binance, th world’s lrgst cryptocurrncy xchng, nd its formr CEO Chngpng Zho (CZ) r fcing frsh lgl troubl. Thr crypto invstors hv fild clss-ction lwsuit ginst th xchng, ccusing it of fcilitting mony lundring nd prvnting thm from rcovring thir stoln ssts. Th lwsuit, fild on August 16 in th U.S. District Court for […]

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Author: Cointelegraph by Derek Andersen
United States Source: Cointelegraph.com News
Aug 03, 2024 12:00

French regulator accepting CASP applications ahead of MiCA rollout

The AMF is giving firms registered under its current DASP rules ample time to transition, too.

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Author: Diya Raj
United Arab Emirates Source: TheNewsCrypto – Blockchain & Cryptocurrency News M
Aug 18, 2024 04:10

BTC Fog Founder Challenges 30 Year Sentence Igniting Legal Drama

Roman Sterlingov, the founder of  Bitcoin Fog, a cryptocurrency mixer is challenging a potential 30-year prison sentence. It was followed by his conviction on multiple money laundering charges. In an August 15 filing with the U.S. District Court for the District of Columbia, Sterlingov’s legal team argued that the recommended

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Author: Cointelegraph by Derek Andersen
United States Source: Cointelegraph.com News
Aug 17, 2024 12:00

Bybit receives VASP, card operator registration in Argentina

Bybits registration as a virtual asset service provider was made possible by a law passed in July.

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Author: Cointelegraph by Amaka Nwaokocha
United States Source: Cointelegraph.com News
Aug 12, 2024 12:00

Tornado Cash dev Alexey Pertsev seeks more funding for legal appeal

Pertsevs case is a pivotal moment for the crypto community and advocates of digital privacy.

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Author: Cointelegraph by Jesse Coghlan
United States Source: Cointelegraph.com News
Jul 10, 2024 12:00

Paxful co-founder Schaback faces 5 years jail, admits AML failure

Artur Schaback, one of the co-founders of crypto exchange Paxful, has agreed to a plea deal with U.S. prosecutors that could see him locked up for five years.

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Author: Cointelegraph by Amaka Nwaokocha
United States Source: Cointelegraph.com News
Jul 06, 2024 12:00

Binance vs. Nigeria: A timeline of events

As the trial of Binance executive Tigran Gambaryan restarts in Nigeria, Cointelegraph recaps the story so far.

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Author: Cointelegraph by Arijit Sarkar
United States Source: Cointelegraph.com News
Jul 06, 2024 12:00

Crypto exchanges subject to EU Travel Rule in 6 months

New EU regulations mandate crypto exchanges to comply with Travel Rule guidelines, enhancing AML/CFT measures starting Dec. 30.

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Author: Cointelegraph by Amaka Nwaokocha
United States Source: Cointelegraph.com News
Jul 29, 2024 12:00

Swiss regulator FINMA targets stablecoin issuers in new proposal

As stablecoins continue to gain traction globally, regulatory initiatives such as FINMAs guidance are likely to influence policies in other jurisdictions.

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Author: Cointelegraph by Turner Wright
United States Source: Cointelegraph.com News
Jul 24, 2024 12:00

Bill targeting illicit use of crypto passes US House

The Financial Technology Protection Act passed the House of Representatives by voice vote roughly a year after lawmakers sent it out of committee.

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Author: Cointelegraph by Prashant Jha
United States Source: Cointelegraph.com News
Jul 03, 2024 12:00

Singapore ups crypto exchanges risk factor in update to AML/CFT laws

The update aims to prevent terrorist groups and organizations from exploiting Singapores economic openness as an international financial, business and transport hub.

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