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US Treasury Department Lacks Power to Pass FinCEN Bill – Coin Center

8.1.2021
Statue of Albert Gallatin, the fourth Secretary of Treasury, in front of the Department of Treasury building in Washington, D.C. The controversial draft anti-money laundering/know-your-customer (AML/KYC) crypto compliance regulations proposed by the US Treasury Department and the Financial Crimes...

FinCEN to Impose New Regulation for Crypto Holdings at Foreign Exchanges

1.1.2021
The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulation affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets. FinCEN’s New Crypto Rules FinCEN,...

183 Violations: US Government Fines Bitgo for Allowing Users to Bypass Sanctions With Cryptocurrency

1.1.2021
The U.S. Office of Foreign Assets Control has fined Bitgo for failing to prevent users in sanctioned countries from using its crypto wallet service. The agency says Bitgo processed 183 cryptocurrency transactions that were “apparent violations of multiple sanctions programs.”...

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

US Treasury Warns of Increasing Ransomware Campaigns Against Coronavirus Vaccine Research Institutions

31.12.2020
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a warning that alerts financial institutions in the United States about increasing ransomware attacks against coronavirus vaccine research organizations. US Treasury Warns of Ransomware Attacks, Phishing...

New York Approves Its First Publicly Available Japanese Yen Stablecoin

29.12.2020
The New York State Department of Financial Services, the Bitlicense regulator, has authorized GMO to issue U.S. dollar and Japanese yen-pegged stablecoins. The latter “will be the first of its kind available to the public.” To date, the regulator has given out 27 charters and licenses...

Localbitcoins Trader Facing up to 40 Years in Prison Over Bitcoin Fraud Schemes

24.12.2020
A trader on Localbitcoins and Paxful has pleaded guilty to charges in connection with a couple of bitcoin scams. The U.S. Department of Justice alleges that the trader knowingly sold bitcoin to victims of fraudulent schemes. Bitcoin Trader Facing Jail Time The U.S. Department of Justice (DOJ)...

US Treasury Unveils Stifling Crypto Wallet Regulation — Experts Break Down the Rules

19.12.2020
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, has unveiled its proposed rules on transactions involving cryptocurrency wallets. Experts in the crypto community have weighed in on what the new proposed regulation means, what crypto owners should do,...

FBI to reform virtual currency practices following DoJ recommendations

19.12.2020
The DoJ thinks the FBI needs to shape up when it comes to its cryptocurrency support teams

CoinEx Celebrates Third Anniversary With Overall System and Product Upgrade

18.12.2020
PRESS RELEASE. CoinEx, a global and professional cryptocurrency exchange service provider, celebrates its third anniversary and announces that it has upgraded and optimized the underlying system as well as the front-end. After months of hard work by the R&D department, CoinEx has completed...

Mastermind of $25 Million Crypto Debit Card Scheme Sentenced to Prison

18.12.2020
The mastermind behind a $25 million cryptocurrency debit card scheme has been sentenced to one year and one day in prison, in addition to three years of supervised release. The authorities have also seized his cryptocurrency. $25 Million Crypto Credit Card Scheme The U.S. Department of Justice...

DJ Khaled and Floyd Mayweather promoted his 2017 ICO; now, he faces a year behind bars

15.12.2020
Robert Farkas will face the lightest felony sentence possible for his role in Centra Tech's 2017 ICO

With Bill Barr leaving the DoJ, what will the next Attorney General do about crypto?

15.12.2020
Attorney General William Barr tendered his resignation to President Trump last night, opening up the conversation as to how a Biden-appointed successor will handle crypto

Crypto Founder Faces 10 Years in Prison Over Millions of Dollars in Exit Scam Without Paying Taxes

13.12.2020
A cryptocurrency founder has been arrested and is facing up to 10 years imprisonment for tax evasion after running an exit scam. He allegedly made millions of dollars from his cryptocurrency and used an elaborate scheme to avoid paying taxes. Crypto Founder Exit Scams, Caught for Tax Evasion...

US Lawmakers Caution Against Regulations Restricting Use of Self-Hosted Crypto Wallets

12.12.2020
Four U.S. lawmakers have sent a letter to Treasury Secretary Steven Mnuchin, warning of the risks of restricting the use of self-hosted cryptocurrency wallets. Their concerns follow reports that the Treasury Department may be on the verge of imposing such strict cryptocurrency regulations aimed...

Architect of DoJ's crypto framework will no longer be leading their policy-making

11.12.2020
Major figure in Justice Department's cyber work is out from the policy office, but no word on where she's heading next

Man Jailed for Role in $25 Million Ponzi Scheme Involving a Failed Crypto

10.12.2020
A South Florida federal district judge has sentenced Jose Angel Aman to 84 months in prison for his role in perpetrating a $25 million diamond Ponzi scheme. In addition, the judge ordered Aman to pay over $23 million in restitution to victims who invested in his diamond cutting business and...