Search Results for "laundering"
US Files Lawsuit to Recover Cryptocurrency Accounts Linked to North Korean Hacking Operation
The US Department of Justice has filed a suit against North Korean state-sponsored cyber hackers for allegedly perpetrating two major cryptocurrency heists.
Taiwan's ACE Exchange Founder and Associates Face 20-Year Prison Sentences in Fraud and Money Laundering Case
Taiwan's prosecutors are recommending 20-year prison sentences for four suspects, including ACE Exchange founder David Pan, in a fraud and money laundering case involving the cryptocurrency trading platform. The case, which involved 32 individuals, resulted in over 1,200 victims and an estimated loss of 800 million New Taiwan dollars ($24.56 million).
Bitcoin of America indicted for operating unlicensed kiosks
Bitcoin of America, a Bitcoin technology firm, along with three of its executives, has been indicted for allegedly operating more than 50 unlicensed crypto kiosks in Ohio that knowingly benefited from victims of cryptocurrency scams. The firm is facing charges of money laundering, conspiracy, and other crimes connected to the operation of the kiosks, which authorities believe have been operating and evading regulatory safeguards and financial compliance requirements since 2018.
Binance Reportedly Faces Investigations from Top US Federal Agencies
The IRS and the DOJ are reportedly probing Binance over tax and money laundering offences.
BaFin Declines to Classify NFTs as Securities, Recommends Case-by-Case Approach
The Federal Financial Supervisory Authority of Germany (BaFin) has stated that it is not yet prepared to classify non-fungible tokens (NFTs) as securities. While NFTs may be considered investments in certain cases, BaFin suggests that classification should be approached on a case-by-case basis. The lack of immediate exchangeability and standardization makes it unlikely that NFTs will be classified as crypto assets. However, if an NFT contains documentation of exploitation rights or ownership, it could be considered an investment. BaFin does not expect NFTs to comply with the licensing requirements of the Payment Services Supervision Act or fall under its Anti-Money Laundering supervision, except for NFTs that are considered "crypto assets."
Binance Debunks Claims Exchange Aided Money Laundering
Crypto exchange Binance denied all allegations of facilitating around $2.4 billion in illicit funds from world-acclaimed criminal organizations like Lazarus Group and Hydra.
AML BitCoin Lobbyist Abramoff to Pay $55K in Convicted Guilt Plea for ICO Fraud
In the civil case filed against Jack Abramoff for his role in the 2018 Initial Coin Offering (ICO) scandal, the AML BitCoin lobbyist is expected to pay $55, 000 in disgorgement and interest for his conspiracy in fraud.
Bulgarian Authorities Accuse Four Persons After Nexo Office Raid
The Sofia Nexo raid resulted in four charges. Nexo lets investors borrow and stake crypto. The UK, Bulgaria, and Switzerland-based corporation does not serve Bulgarians. Nexo announced its US service phaseout in December.
US Court Orders Binance and Changpeng Zhao to Pay $2.7 Billion in Settlement with CFTC
A US court has imposed a $2.7 billion fine on Binance and a $150 million fine on Changpeng Zhao for violating the Commodity Exchange Act and CFTC regulations.
French Hill Challenges Warren's Anti-Money Laundering Act
U.S. Representative French Hill questions the efficacy of Senator Elizabeth Warren's Digital Asset Anti-Money Laundering Act, arguing it won't deter terrorist organizations from using cryptocurrencies. The act's broad regulatory scope, including miners and validators, sparks controversy.
China Dismantles $2.2 Billion Underground Banking Operation Leveraging Cryptocurrencies
Chinese authorities have dismantled a $2.2 billion underground banking network that used cryptocurrencies to bypass financial controls, seizing $28,000 worth of digital currencies.
Hackers Launder $27 Million in Stolen Ethereum From North Korean
North Korean exploiters laundering June 2022 Harmony Bridge assault funding.