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Warren’s Crypto Bill Is Likely Unconstitutional. It’s Also Unlikely to Pass
12.12.2023
Democratic lawmakers signed on to sponsor the Digital Asset Anti-Money Laundering Act. The bill is bad for crypto in the U.S., even if it never gets through Congress
Former Binance CEO CZ Released on $175 Million Bond, Sentencing Hearing Set for February 2024
22.11.2023
Source: GeekWire/ Taylor Soper The founder and former CEO of Binance, Changpeng “CZ” Zhao, has been released on a $175 million personal recognizance bond. This follows his guilty plea to charges of violating the Bank Secrecy Act. A plea made during a court appearance where federal...
DOJ Holds Press Conference on Binance, “CZ” Announces New CEO
21.11.2023
Founder and former CEO of Binance, Changpeng Zhao, announced his replacement today as the Department of Justice held a press conference announcing significant cryptocurrency enforcement actions against his company. Binance makes a “complete exit” Zhao has pleaded guilty to “willfully...
Binance charges prove 'following the rules' was the right decision: Coinbase CEO
21.11.2023
Brian Armstrong reflected on the announcement of criminal charges against Binance, stating that Coinbase’s decision to get licenses was correct
Coin Center Criticizes Bank Secrecy Act, Demands Regulation
17.11.2023
Coin Center, the leading non-profit dedicated to research surrounding cryptocurrencies, calls the Bank Secrecy Act too “broad” for its own good, according to their most recent report. “Riddled with sweeping powers and expansive terms” Published earlier this month, the report (appropriately titled...
Hamas' Crypto Ties May Lend Energy to Sen. Warren's Money Laundering Bill
13.10.2023
The revelations that the terrorist group behind last week’s attack on villages in southern Israel that left more than 1,200 Israelis dead was partially funded with cryptocurrency may lend additional weight to an effort from Sen. Elizabeth Warren (D-Mass.) and others to push for a law targeting...
CTFC cracks down on DeFi protocols Opyn, ZeroEx and Deridex
8.9.2023
The commodities regulator handed out fines of $250,000, $200,000, and $100,000 respectively to the three firms in addition to cease and desist orders
Tornado Cash indictment fails to show 'clear violation' of certain laws: Coin Center
24.8.2023
Coin Center research director Peter Van Valkenburgh argued that crypto mixer Tornado Cash is an anonymizing software provider, not a money transmitter
CATO Institute: CBDC the ‘Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act’
9.4.2023
A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening...
Sweeping Crypto Regulation? First Update the Bank Secrecy Act
25.1.2023
Report: Confirmation of Silvergate’s $8 Billion Deposit Plunge Sees Stock Price Drop by More Than 40%
6.1.2023
The price of the crypto-focused bank Silvergate Capital’s shares fell by over 40% after it reported a more than $8 billion drop in customer deposits. The share price plunge came just days after U.S. prosecutors reportedly seized collapsed crypto exchange FTX’s accounts held at the bank....
Silvergate CEO calls out 'short sellers' spreading misinformation
6.12.2022
In the statement, Lane also took the opportunity to "set the record straight” about its investment relationship with FTX and the firm's “robust risk management approach.”
Report: US Department of Justice Files $60 Million Lawsuit Against Bitcoin Mixer Operator
25.10.2022
The United States Department of Justice recently filed a lawsuit to recover $60 million that was imposed on Larry Harmon, the operator of a bitcoin mixing service targeted by U.S. law enforcement in 2020. According to U.S. authorities, Harmon had operated an unlicensed money-transmitting business....
BitMEX former executive pleads guilty to violating the Bank Secrecy Act
9.8.2022
Gregory Dwyer becomes the last one from the exchange’s management to enter a plea
Robinhood Crypto Fined $30 Million by New York Regulator for ‘Significant Failures’ in Multiple Areas
3.8.2022
The New York State Department of Financial Services (DFS) has fined Robinhood Crypto $30 million for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.” Robinhood Crypto Settles With the DFS The...
Bitmex Co-Founder Arthur Hayes Avoids Prison for Violating US Bank Secrecy Act
23.5.2022
Bitmex co-founder Arthur Hayes is not going to prison for violating the U.S. Bank Secrecy Act. Instead, the former crypto exchange CEO has been sentenced to “six months of home detention and two years of probation.” Hayes has agreed to pay a fine of $10 million. Bitmex’s Arthur...
US Court Fines Bitmex’s Founders $30 Million for Operating Illegal Crypto Platform
7.5.2022
The founders of Bitmex have been ordered to pay $30 million “for illegally operating a cryptocurrency derivatives trading platform and anti-money laundering violations.” Arthur Hayes, Benjamin Delo, and Samuel Reed must pay $10 million each. Bitmex’s Founders Fined $30 Million...
Crypto Exchange Bitmex’s Founders Plead Guilty to Bank Secrecy Act Violations
26.2.2022
The founders of cryptocurrency derivatives exchange Bitmex, Arthur Hayes and Benjamin Delo, have pled guilty to violations of the U.S. Bank Secrecy Act. “As a result of its willful failure to implement AML and KYC programs, Bitmex was in effect a money-laundering platform,” said...
BitMEX founders plead guilty to Bank Secrecy Act violations
25.2.2022
Arthur Hayes and Benjamin Delo will each have to pay a fine for their part in flouting the Bank Secrecy Act and operating what the DOJ called a “money laundering platform.”
Bitmex Agrees to Pay $100 Million to Resolve Charges With FinCEN and CFTC
11.8.2021
Global cryptocurrency derivatives exchange Bitmex has settled charges with the U.S. Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN). The exchange has agreed to pay as much as $100 million to end investigations by the two agencies. Bitmex Settles...