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Dutch Crypto Startups Brawl With Regulators Over Scope of EU Money Laundering Rule

Banking compliance consultant Simon Lelieveldt, who has worked for the DNB and as a Dutch financial historian, said the two entities are trying to be proactive and not repeat past mistakes. Regulators are under pressure from critics who say lax oversight, particularly concerning the Netherlands largest bank, ING, led to

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Featured: The Connection Between Cryptocurrency and Money Laundering

featuredIn recent years, cryptocurrency has become one of the most important components of the global financial system, as it can be considered as a significant form of personal wealth. Many businesses that have emerged over the past decade are involved with cryptocurrency trading and development.Though the use cases of cryptocurrency

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US Will Strictly Enforce Anti-Money Laundering In Crypto

The United States Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco said that Anti-Money Laundering (AML) laws will be strictly enforced in the world of cryptocurrencies.On Nov. 15, Reuters reported that Blanco made it crystal clear that cryptocurrency companies engaged in money service businesses will have to comply with

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Transcript from OneCoin Money Laundering Case Details $4 Billion Crypto Ponzi Scheme

Attorney Mark Scott was charged in August 2018 on the basis of laundering an amount of over $400 million in investors’ funds via a valueless cryptocurrency scam called OneCoin, and he’s currently standing trial.The transcript of the hearings held on September 13th last year was made public recently, a few

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CipherTrace Urges Crypto Companies to Prepare for Anti-Money Laundering Compliance

For better or for worse, the cryptocurrency space is coming of age. Since Bitcoin’s rise to mainstream prominence in 2015, there has been increasing recognition of digital assets from government agencies around the world. In turn, new regulations are being imposed to control the way cryptocurrency companies operate and

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Attorney of OneCoin Ponzi Scheme Stands Trial for $400M Money Laundering

Mark Scott, lawyer of the OneCoin cryptocurrency Ponzi scheme, undergoes trial for laundering $400 million out of the U.S.For those who do not know what OneCoin exactly is, it was perhaps one of the biggest scams in cryptocurrency’s short history. Konstantin Ignatov and Ruja Ignatova were behind this international pyramid

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Calibra Head David Marcus Touts Libra’s Money Laundering Standards

Calibra CEO David Marcus recently claimed that the Anti-Money Laundering (AML) standards of Libra — Facebook’s proposed stablecoin project — will be better than other payments networks.Citing statements from Marcus’ speech at the Money 20/20 conference in Las Vegas, finance publication Finextra reports on Oct. 29 that he explained

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