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Sinbad was used by North Korean cyber criminals to launder hundreds of millions stolen from some of crypto’s biggest hacks like Ronin Bridge and Atomic Wallet, said the Treasury. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against Sinbad, a cryptocurrency mixing service allegedly leveraged
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Wally Adeyemo, deputy secretary of the Treasury, said issuers outside the U.S. need to be forced to prevent abuse by terrorists. Source
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Lawmakers should also beef up the department's powers under the Bank Secrecy Act (BSA), allowing for the "targeting of cryptocurrency entities and services that facilitate funding for terrorists," the proposal said. It calls for a new category of financial institutions under the BSA that would include "cryptocurrency exchanges, Virtual Asset
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Treasury's Office of Foreign Assets Control, or OFAC, designated two Bitcoin addresses and two email addresses tied to Sinbad, banning all U.S. persons and anyone who transacts with the global financial system from interacting with the addresses in future. Source
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The former BitMEX CEO said the record-breaking penalties against Binance represent an institutional bias against the transformative impact of cryptocurrency and blockchain technology. Source
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A district judge ordered Changpeng "CZ" Zhao to stay in the U.S. until he could make a proper ruling on a U.S. Department of Justice motion to block him from returning to his home in the UAE. Original Source
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"Based on all the relevant facts, including Mr. Zhao's voluntary self-surrender, his intent to resolve this case, and the sizable bail package he proposed, Judge Tsuchida found that Mr. Zhao presents no risk of flight, even while residing in the UAE," last week's filing said. Original Source
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U.S. Commodity Futures Trading Commission (CFTC) Commissioner Christy Goldsmith Romero said the regulator will continue to pursue cryptocurrency exchanges that break the law. In a statement quoted by Business Insider, the commissioner emphasized that “there are no pirate ships in US markets” and that “access to American customers is a privilege,
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Bitfarms announces a $44 million private placement with U.S. investors to expand its Bitcoin mining infrastructure and strengthen its working capital. Bitfarms Ltd., a Canadian Bitcoin mining company, has initiated a private placement deal with U.S. institutional investors to raise approximately $44 million ($60 million CAD). This strategic deal, set to
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This shift toward regulated crypto companies and products is positive as more regulation will help attract investors from traditional finance, the note said, adding that the involvement of large asset managers such as Blackrock (BLK) and Fidelity in the approval of spot bitcoin ETFs by the Securities and Exchange Commission
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