Cryptocurrency Analysis and News Portal
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U.S. Senator Elizabeth Warren has called on Congress to ensure regulators, such as the Securities and Exchange Commission (SEC), have the tools to regulate the crypto industry effectively and crack down on crypto money laundering activities. “The current legal structure essentially holds up a giant sign over crypto that says,
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A Chivo wallet programmer has opened up about the different problems that the flagship cryptocurrency wallet of El Salvador faced during its initial stages. Shaun Overton, who alleges he was hired to help in the handling of the issues, has talked about ID theft, money laundering problems, and the tech
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"There are authorities at one of Nexo’s offices in Bulgaria which is, as you know the most corrupt country in the EU," a Nexo spokesperson said in an email to CryptoX. "They are making AML and tax-related inquiries about a Bulgarian entity of the group that is not customer facing,
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Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were
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U.S. Senators Elizabeth Warren (D-Mass) and Roger Marshall (R-Kan) are introducing an act to crack down on money laundering and financing of terrorists and rogue nations via cryptocurrency. Source
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The criminal group began its operations in May 2021, with the sources of the funds coming from illegal pyramid schemes, fraud and gambling. The group then converted the funds into the stablecoin tether and then recruited people around the world to open crypto accounts and help launder the funds, according
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The DOJ investigation showed that CZ had kept the financial records of Binance from the public. Popular cryptocurrency exchange Binance has denied the alleged probing by the US DOJ over a possible money laundering and criminal sanction violation. The prosecuting office in Seattle began the investigation in 2018
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"As has been reported widely, regulators are doing a sweeping review of every crypto company against many of the same issues. This nascent industry has grown quickly and Binance has shown its commitment to security and compliance through large investments in our team as well as the tools and technology
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Co-accused U.K. national Christopher Hamilton, who faces similar charges to Schneider, in August lost a plea in his home country to avoid extradition to the U.S., while his fellow countryman Robert McDonald managed to avoid extradition on human rights grounds. Original Source
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