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Nigeria’s Financial Watchdog Summons Binance CEO Over Crime Concerns
4.3.2024
New Binance CEO Richard Teng must appear before Nigeria’s House of Representatives Committee on Financial Crimes to answer questions about his company’s lax KYC and AML policies, which may have played a part in terrorism financing and money laundering. Committee Chairman Ginger Onwusibe...
Sam Bankman Fried’s Legal Team Cites Autism Spectrum Disorder in Plea for Leniency
29.2.2024
Lawyers for disgraced former FTX CEO Sam Bankman-Fried (SBF) have argued that judges should consider their client’s autism traits when deciding his prison sentence. SBF faces a maximum of 110 years between seven counts of money laundering, wire fraud and securities fraud. However, his defense...
Senator Warren Hits Out at Crypto Again, Says Industry Needs to Follow the Same Rules as TradFi
28.2.2024
Warren reiterated her disdain for the industry in an interview
Senior U.S. Military Airman and Cyber Analyst Charged with Money Laundering for NFT “Rug Pull” Scheme
27.2.2024
Two individuals, including a senior airman and cyber analyst in the U.S. military, have been charged for money laundering in connection to an NFT “rug pull” scheme, a February 23rd statement from U.S. Immigrations and Customs Enforcement (ICE) reveals.
The post Senior U.S. Military Airman and Cyber...
FATF Grey Listing Concern Prompts Kenya to Establish a Crypto Working Group
23.2.2024
The fears that Kenya’s lack of a regulatory framework for overseeing the crypto industry has prompted the government to establish a working group tasked with drafting crypto regulations. Authorities in the East African nation are confident that the approved regulations will designate a sole...
Frankfurt to Host New EU Money Laundering Watchdog Tasked With Monitoring Crypto
22.2.2024
The Anti-Money Laundering Authority is part of a broader effort by the European Union to combat illicit fund flows, and is ready to begin work as early as Friday, officials said Thursday
Crypto Advocacy Group Urges Senate Banking Chair to Reject Elizabeth Warren’s DAAMLA Bill
21.2.2024
US crypto advocacy group, the Chamber of Digital Commerce (CDC), is opposing Senator Elizabeth Warren’s anti money-laundering (AML) DAAMLA legislation, claiming she is “trying to kill the entire industry,” according to a tweet yesterday on X. Digital assets have been under attack...
UK Prosecutors Challenge Defendant’s Claim of Innocence in $6.3 Billion Bitcoin Laundering Case
20.2.2024
UK prosecutors are challenging the claims of a British-Chinese national who says she had “no idea” she was part of a $6.3 billion Bitcoin money laundering plot. The 42-year-old dual national Jian Wen has pled not guilty to three counts of money laundering on behalf of her former...
Chainalysis Report: Crypto Value Sent From Illicit Addresses Dropped by Nearly $10 Billion in 2023
16.2.2024
According to Chainalysis’ report on money laundering trends, the value of crypto transferred by illicit addresses in 2023 fell by nearly $10 billion from $31.5 billion to the latest $22 billion. The report attributes the drop to the overall decline in both legitimate and illicit crypto...
Crypto Money Laundering Dropped Almost 30% in 2023: Chainalysis
15.2.2024
Illicit cryptocurrency transactions fell roughly 30% in 2023, according to Chainalysis’ newly released 2024 Crypto Crime Report. This decrease signals a major shift in crypto money laundering trends. The report also stated that total funds sent between illicit addresses dropped by 14.9%...
China to Revise AML Law to Address Risks Associated with Virtual Assets
15.2.2024
China is set to revise its outdated Anti-Money-Laundering (AML) law in a bid to tackle the increasing risks associated with virtual assets. The draft amendment, discussed at a State Council meeting chaired by Chinese Premier Li Qiang, will soon undergo review by the national legislature, according...
Crypto Money Laundering Dropped 30% Last Year, Chainalysis Says
15.2.2024
Illicit addresses sent $22.2 billion in cryptocurrency to services in 2023, a decrease from $31.5 billion in 2022, and centralized exchanges remain the primary destination
FCA Reviewed 44 Crypto Firms Registered in UK For Anti-Money Laundering Purposes
14.2.2024
The Financial Conduct Authority (FCA) has conducted internal reviews on 44 cryptocurrency firms registered in the country to tackle money laundering concerns. In a Feb 14 release, the regulator highlighted key areas in the UK markets including digital assets regulations. Last year, the FCA carried...
Crypto Exchanges Reported Over 16,000 Flagged Transactions to South Korean Authorities
14.2.2024
South Korean crypto exchanges reported over 16,000 transactions to local authorities in 2023, an increase from previous years. The Financial Intelligence Unit (FIU) released a breakdown of its efforts to tackle money laundering and other illegal financial threats involving crypto assets....
Digitex CEO Charged for Illegally Operating Crypto Futures
14.2.2024
Digitex crypto futures exchange CEO Adam Colin Todd willfully failed to include adequate anti-money-laundering (AML) program, Florida federal court alleged. The US Attorney’s Office for the Southern District of Florida said in a statement Tuesday that the offender “willfully caused Digitex Futures...
SafeMoon CEO Gets Bail, But His Legal Team Wants to Opt Out
13.2.2024
CEO of bankrupt crypto project SafeMoon Braden John Karony is released on bail, but his legal team no longer wants to represent him. In Nov. 2023, Karony and SafeMoon CTO Thomas Smith were arrested on charges of securities fraud, money laundering, and conspiracy to commit wire fraud. However,...
Blockchain Association Warns Warren’s Anti-Crypto Legislation Threatens US Jobs and Strategic Advantage
13.2.2024
The Blockchain Association has sent a second letter to the House Financial Services Committee and Senate Banking Committee expressing concerns over a bill sponsored by Senator Elizabeth Warren. The legislation, titled the Digital Asset Anti-Money Laundering Act of 2023 (DAAMLA), has garnered...
Binance Founder CZ’s Sentencing Pushed to April, Potential Prison Term Looms
13.2.2024
The sentencing date for Binance founder and former CEO Changpeng “CZ” Zhao has been postponed from February 23rd to April 30th, according to a notice filed in a Seattle Federal Court, CNBC reported. Earlier, Zhao pleaded guilty to money laundering charges in November 2023. While...
Nigeria Faces Pressure to Tighten Crypto Regulations for Financial Crime Prevention
12.2.2024
Nigeria faces calls to go further in its efforts to clarify crypto regulation after a blockchain firm successfully finished training its fifth cohort of crypto compliance specialists last weekend. Blockchain intelligence service provider A&D Forensics teaches a course on curbing financial...
Traditional Banking Sector Helped to Fuel Misconceptions About Regulators’ Stance on Crypto, Says Karim Chaib
11.2.2024
Although many global regulators are commonly perceived to be against offering regulation that is supportive of crypto, Karim Chaib, the CEO of the digital assets platform Web3intelligence, asserts that their stance is, in fact, intended “to ensure a safe and secure environment for both...