Money Laundering

Binance Faces DOJ Probe as Investigators Target Crypto Money Laundering and Tax Evasion

Leave a Comment / Binance, BitMex, Changpeng Zhao, department of justice, Investigation, IRS, Money Laundering, News / By

<div class=”featured_image_container”> </div> <strong>Binance, one of the largest cryptocurrency exchanges in the world, is now being probed by the Department of Justice (DOJ) under the assumption that it could be immersed in money laundering transactions. The investigation will also include inquiries from the Internal Revenue Service (IRS), which has been recently investigating a number of …

Binance Faces DOJ Probe as Investigators Target Crypto Money Laundering and Tax Evasion Read More »

Blockchain Association executive debunks rumored crypto crackdown by Treasury

Leave a Comment / Blockchain, Blockchain Association, crypto, Cryptocurrency, Money Laundering / By

Kristin Smith, executive director of the Blockchain Association has dismissed fears that the United States Department of the Treasury was close to cracking down on Bitcoin (BTC) and cryptocurrencies. Indeed, rumors of the Treasury bringing money laundering charges against some financial institutions using cryptocurrencies began circulating on social media over the weekend. The report emerged …

Blockchain Association executive debunks rumored crypto crackdown by Treasury Read More »

Major South Korean Bank BNK Busan Plans to Offer Banking Services to Domestic Crypto Exchanges

Leave a Comment / Asia, Banks, crypto fiat, crypto services, finance, legislation, Money Laundering, South Korea, south korea cryptocurrency / By

<div class=”featured_image_container”> </div> <strong>The South Korean crypto frenzy among the banking industry remains on fire, as another major bank is treading waters to offer banking services for crypto exchanges. The BNK Busan Bank launched a program that consists of visiting competitors’ banks that already offer it.</strong> BNK Busan Is Visting Its Competitors to Conduct the …

Major South Korean Bank BNK Busan Plans to Offer Banking Services to Domestic Crypto Exchanges Read More »

US Authorities Indict a Canadian Telecom Provider in a Crypto Money Laundering Case With Encrypted Phones

Leave a Comment / Bitcoin (BTC), Canada, encrypted, Encrypted Communications, encrypted phone, Money Laundering, News, Privacy, Telecommunications, U.S. District Court / By

<div class=”featured_image_container”> </div> <strong>A communications provider is in legal trouble with the U.S. authorities for a money laundering case involving cryptocurrencies. A federal court incited Sky Global for allegedly having facilitated criminal organizations to launder millions worth in crypto.</strong> Sky Global Is Also Accused of Remotely Destroying Devices to Avoid Seizing Per the filings, the …

US Authorities Indict a Canadian Telecom Provider in a Crypto Money Laundering Case With Encrypted Phones Read More »

Bitmex Cofounder Ben Delo Surrenders to US Authorities— Arthur Hayes to Follow in April

Leave a Comment / BitMex, court case, Court Filing, crypto exchange, Illegal Activity, Money Laundering, News, United States, United States District Court / By

<div class=”featured_image_container”> </div> <strong>Legal issues with crypto exchange Bitmex’s cofounders still make the headlines. Benjamin Delo surrendered to the U.S. authorities, and Arthur Hayes agreed to make the same maneuver in April.</strong> Delo Released on a $20M Bail Bond According to Bloomberg, Bitmex’s cofounder Benjamin Delo traveled from the U.K. to the United States and …

Bitmex Cofounder Ben Delo Surrenders to US Authorities— Arthur Hayes to Follow in April Read More »

Central Bank of Nigeria Governor Defends Decision to Exclude Crypto Players, Says the Order Is ‘in the Best Interests of Nigerians’

Leave a Comment / Central Bank of Nigeria, Criminal Activity, crypto assets, Cryptocurrency, Emerging Markets, financial risks, Fintech, Godwin Emefiele, Money Laundering, Nigeria, Nigeria Bitcoin, Nigerian Senate / By

<div class=”featured_image_container”> </div> <strong>The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has defended the apex bank’s decision to exclude cryptocurrency transactions from the banking ecosystem. In his testimony before the Nigerian Senate, Emefiele claimed that the February 5 directive is “in the best interests of Nigerians.” </strong> Crypto Not Money Immediately following …

Central Bank of Nigeria Governor Defends Decision to Exclude Crypto Players, Says the Order Is ‘in the Best Interests of Nigerians’ Read More »

IMF Representative of Nigeria Calls for Caution Over the Use of Cryptocurrencies

Leave a Comment / bitcoin remittances, CBN crypto ban, Central Bank of Nigeria, COVID-19, Cryptocurrencies, Economics, Foreign Exchange, IMF, International Monetary Fund, Money Laundering, naira, parallel market / By

<div class=”featured_image_container”> </div> <strong>The International Monetary Fund (IMF) resident representative for Nigeria, Ari Aisen recently discussed the Central Bank of Nigeria (CBN) directive that targets crypto entities. In remarks made during a special virtual press briefing, Aisen repeats some of the CBN’s claims that cryptocurrencies were being used “for illegal transactions such as money laundering …

IMF Representative of Nigeria Calls for Caution Over the Use of Cryptocurrencies Read More »

Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million

Leave a Comment / Bitcoin Mixers, blockchain analysis, Chainalysis, crypto crime, cryptocurrency gambling service, FSCA, Johann Steynberg, Mirror Trading, Mirror Trading International (MTI), Money Laundering, Regulation, self-hosted wallets / By

<div class=”featured_image_container”> </div> <strong>Blockchain analysis firm, Chainalysis’ latest crime report has named Mirror Trading International (MTI) as the biggest cryptocurrency scam of 2020. Chainalysis arrived at this conclusion after an investigation found that MTI had taken in $589 million from more than 471,000 deposits. According to the report, MTI’s haul is significantly higher than that …

Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million Read More »

Unlicensed crypto exchange operator faces 25 years for laundering $13m

Leave a Comment / Bitcoin, Crime, Money Laundering / By

49-year-old peer-to-peer crypto trader, Hugo Sergio Mejia, has agreed to plead guilty to charges of money laundering and operating an unlicensed money transmitting business. The U.S. Attorney’s Office accuses Mejia of using a suite of limited liability corporations to conceal the true nature of his operations while exchanging cash for Bitcoins over a period spanning …

Unlicensed crypto exchange operator faces 25 years for laundering $13m Read More »

US Man Pleads Guilty to Money Laundering Charges Involving $13M in Bitcoin

Leave a Comment / Bitcoin, California, Crime, Money Laundering, News, Policy & regulation / By

A California man has entered into a plea agreement with U.S. authorities after being charged for operating an unlicensed company that exchanged millions of dollars in bitcoin for cash. According to a press release from the U.S. Department of Justice on Friday, Hugo Mejia, 49, pleaded guilty to a two-count charge of operating an unlicensed …

US Man Pleads Guilty to Money Laundering Charges Involving $13M in Bitcoin Read More »