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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...
US Senator Lummis: Big Government Spenders Are Accelerating Adoption of Crypto Assets Like Bitcoin
30.7.2021
U.S. Senator Cynthia Lummis is pushing for regulation that would ensure bitcoin remains a good store of value. If the cryptocurrency “is to become what El Salvador has done, legal tender, then we need to make sure that we are using it in ways that comply with the Bank Secrecy Act...
Crypto Travel Rule Working Group Launches 2.0 Protocol ‘Solving the Discoverability Problem’
26.6.2021
Just before the Financial Action Task Force (FATF) published the organization’s 12-month review, a working group called the Travel Rule Protocol (TRP) released its 2.0 version of the TRP crypto application programming interface (API) in order to “simplify the end-user crypto exchange...
Biden Makes Cryptocurrency a Focus of New Anti-Corruption Directive for National Security
4.6.2021
Cryptocurrency is a point of focus in President Joe Biden’s new directive aimed at combating corruption as a core national security interest of the U.S. An official of the Biden administration says that major parts of the directive will focus on cryptocurrency and cybercrime. Crypto a Focus...
FinCEN’s Wallet Rule Aims to Close Crypto-Cash Reporting Gap, Official Says
1.2.2021
FinCEN Deputy Director Michael Mosier encouraged commenters to provide practical, technical feedback on the rule
FinCEN Wants US Citizens to Disclose Offshore Crypto Holdings of $10K+
31.12.2020
The Financial Crimes Enforcement Network wants U.S. persons who hold crypto in offshore accounts to report holdings over $10,000
Crypto Startup Avanti Receives License To Operate as National Bank in Wyoming
30.10.2020
Crypto startup Avanti Financial Group has been granted a license to offer banking services by the Wyoming State Banking Board. The license, or bank charter, means Avanti can now operate as a conventional bank – but one with a twist, capable of holding both crypto and dollars. It plans...
Prepping for Next Year’s Travel Rule: 25 US Crypto Service Providers Publish Compliance Solutions Paper
24.10.2020
A great number of cryptocurrency businesses are preparing for the upcoming Financial Action Task Force (FATF) rules toward cryptocurrencies, specifically the Travel Rule. This month 25 Virtual Asset Service Providers (VASPs) published a paper that outlines how American-based VASPs aim to comply...
Open Interest on Bitmex Drops 16%: Investors Withdraw 37,000 BTC in Less Than 24 Hours
2.10.2020
Data from Arcane Research shows that open interest on Bitmex’s bitcoin derivatives market touched a new low of 45,122 BTC on October 1. The figure represents a 16% drop since the CFTC announced charges against Bitmex and its executives for allegedly operating an unregistered trading platform....
Bitmex Charged With US Rules Violations — Owners Face Criminal Charges, Prison
2.10.2020
Cryptocurrency derivatives trading platform Bitmex has been charged with illegally operating in the U.S. Concurrently, its executives, including CEO Arthur Hayes, have been charged with violations of the Bank Secrecy Act and are facing prison sentences. One of the Bitmex founders has already been...
Why the BitMEX charges could be bad news for DeFi
2.10.2020
Charges against BitMEX for weak AML and KYC policies could be bad news for the world of decentralized finance
[aktualita] CFTC: kryptoderivátová burza BitMEX porušuje Bank Secrecy Act
1.10.2020
Americká Komise pro obchodování s komoditními futures (CFTC) obvinila majitele a provozovatele kryptoměnové burzy BitMEX z nelegálního provozu platformy pro derivátové obchodování a porušení zákona proti praní špinavých peněz. Komise dnes oznámila, že podává u civilního newyorkského soudu žalobu...
US Appeals Court Allows Warrantless Search of Blockchain, Exchange Data
1.7.2020
A federal appeals court ruled public blockchain information and information stored on crypto exchanges do not provide a reasonable expectation of privacy under the Fourth Amendment
How the IRS Audits Cryptocurrency Tax Returns – Filing Expert Shares Example, Insights on AML Focus
23.2.2020
Tax season is one of the most dreaded times of the year for many, and when the added confusion of filing crypto returns is thrown into to the mix, things can get even stickier. News.Bitcoin.com recently talked with Clinton Donnelly of Donnelly Tax Law, a service that specializes in crypto returns....
FIN Advises US Congress To Govern Cryptocurrencies Under Bank Secrecy Act
3.9.2019
The leading strategic advisory firm, Financial Integrity Network or FIN, has released an advisory recommendation for U.S. Congress concerning the regulatory measures of the cryptocurrency sector. In a testimony before the crucial hearing, FIN announced that it purports to establish a new financial...