Cryptocurrency Analysis and News Portal
The U.S. Treasury Department’s proposed rules which would require users to comply with KYC requirements if they seek to send their crypto to a private wallet could end up being ineffective, according to blockchain analytics firm Elliptic. In its published response to the rule, Elliptic said that the rules could “adversely
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A U.S. agency that fights financial crime is encouraging financial institutions, ranging from banks to cryptocurrency exchanges, to share customer information with one another to catch wrongdoers.The Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department, issued a fact sheet Thursday spelling out that the 2001 Patriot Act
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U.S. regulators are discussing the “why” of a new proposal that has crypto fans concerned.Speaking Monday at the V20 Virtual Asset Service Providers Summit, Carole House, cyber and emerging tech policy specialist at the Financial Crimes Enforcement Network (FinCEN), said criminals are conducting cross-border payments using smaller amounts of cryptocurrency
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Larry Dean Harmon, the Helix and Coin Ninja crypto-tumbling chief who in February was arrested for allegedly mixing bitcoin for criminals must pay $60 million in civil penalties, prosecutors at the Financial Crimes Enforcement Network (FinCEN) demanded Monday. Source
Read MoreNexo co-founder Antoni Trenchev told Cryptox that he believes the information revealed during the recent FinCen leak vindicates the crypto industry. According to the leak, the world’s leading financial institutions cleared over $2 trillion “suspicious” transactions — and Deutsche Bank alone cleared over $1.3 trillion of that amount. Trenchev said:“The
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The massive leak of suspicious activity reports shows how banks let the government know about likely money laundering, then go right on providing services. The FinCEN Files are a leaked cache of suspicious activity reports filed by banks with the U.S .Financial Crimes Enforcement Network. The more than 2,000 files, representing
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Within the framework of the OneCoin scheme, the transactions moved a total of $137 million to international bank accounts.Thousands of “suspicious activity reports” commonly referred to as SARs and other U.S, government documents that were leaked by an investigative media outlet, BuzzFeed news, indicate that in February 2017, the Bank
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One of America’s oldest banks wired over a hundred million dollars in funds linked to the crypto Ponzi scheme OneCoin, according to a trove of documents leaked from the U.S.’ financial crimes watchdog. In February 2017, the Bank of New York Mellon (BNY Mellon) flagged a number of transactions with the
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While global cryptocurrency firms increasingly come to Singapore to benefit from its crypto-friendly ecosystem, some local firms are also expanding their operations beyond local jurisdiction.Bitget, a Singapore-headquartered digital asset platform, has obtained regulatory approval from the United States Financial Crimes Enforcement Network (FinCEN), the primary regulator for money service
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Social media networks with crypto aspirations must guard their systems against criminal exploitation, the U.S Treasury Department's deputy fiscal crimes enforcer said at an anti-money laundering (AML) conference.In prepared remarks, Jamal El-Hindi, deputy director of the Financial Crimes Enforcement Network (FinCEN), said these “new payment technologies” need to be held
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