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South Korea Mulls Issuing Crypto Mixing Regulations to Curb Money Laundering
17.1.2024
Financial authorities are preparing to issue cryptocurrency mixing-specific regulations in South Korea to stop criminal groups from using these tools to launder funds obtained illegally. The Korean authorities are discussing whether to allow virtual asset service providers (VASPs) to reject...
EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms
16.1.2024
EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms
16.1.2024
The European Banking Authority issued new guidance for crypto firms that will come into effect on Dec. 30, 2024
Bitrace Report Examines Money Laundering with Stablecoins
27.12.2023
Source: iStock/kali9 A recent report by blockchain researcher Bitrace has shed light on the potential use of stablecoins in money laundering activities. The report, published on December 26 and translated by Wu Blockchain, highlighted two distinct scenarios in which stablecoins, specifically...
Nexo's Money Laundering Investigation in Bulgaria Closed Due to Lack of Evidence: Report
22.12.2023
The Bulgarian Prosecutor's Office reported to have said that it found “no evidence of criminal activity,” adding that “no evidence of tax offenses or computer fraud was found against the defendants, either.”
UAE Authority Updates Anti-Money Laundering Measures to Implement FATF’s Travel Rule
21.12.2023
Image Source: Diana/Adobe Stock The Financial Services Regulatory Authority (FSRA), a financial regulatory body in the United Arab Emirates, has released an updated version of its Anti-Money Laundering (AML) and sanctions rules specifically tailored for digital assets. In an official announcement...
Alleged Crypto Investment Scam Worth $80M Sees Four People Charged With Money Laundering in U.S.
14.12.2023
The four allegedly obtained the money through so-called pig-butchering and other fraudulent schemes
Senator Warren’s Bipartisan Push to Combat Crypto Money Laundering Gains Momentum
12.12.2023
Source: Screenshot of video Sen. Elizabeth Warren’s YouTube page Senator Elizabeth Warren (D-Mass.) has announced an increase in support for the bipartisan Digital Asset Anti-Money Laundering Act, which aims to tackle concerns around the use of crypto in illegal activities such as money laundering...
28 Indian Crypto Platforms Register With Country’s Anti-Money Laundering Department
4.12.2023
Source: Pixabay 28 Indian crypto platforms have registered with the Financial Intelligence Unit, the country’s Minister of State for Finance said. In response to queries in the Lok Sabha, the lower house of India’s bicameral Parliament, Indian Minister of State for Finance Pankaj Chaudhary told...
28 Indian Crypto Service Providers Have Registered With Country’s Anti-Money Laundering Unit
4.12.2023
As many as 28 Virtual Digital Assets (VDA) or crypto service providers have registered themselves with India's Financial Intelligence Unit (FIU-IND)
Crypto Mixer Sinbad Sanctioned by OFAC Over Alleged Ties to North Korean Hackers
1.12.2023
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on yet another cryptocurrency mixing platform, labeling Sinbad.io as a “key money-laundering tool” used by the North Korean Lazarus Group crime syndicate. Sinbad.io, in addition...
U.S. Treasury Sanctions North Korean Government’s Crypto Mixer Sinbad
29.11.2023
According to a statement released Wednesday, the U.S. Treasury Department has placed sanctions on the government of North Korea’s crypto mixer, Sinbad. “A key-money laundering tool” Sinbad serves as “a key money-laundering tool” for the state-sponsored North Korean cyber-hacking collective...
Bitcoin Group Addressing 'Serious Deficits' in Money Laundering Measures Flagged by German Regulator
29.11.2023
The group reportedly said Wednesday that it has "no indications of violations of money laundering and terrorist financing laws."
European Banking Authority Calls for Enhanced Anti-Money Laundering Rules for Crypto Providers – Regulation Incoming?
24.11.2023
Source: AdobeStock / rarrarorro The European Banking Authority (EBA) aims to update the Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) rules for crypto providers. In a consultation paper released on November 24, the banking regulator of the European Union acknowledged...
Chinese Police Warn of Rise in CBDC-themed Money Laundering Schemes
22.11.2023
Source: EduardSkorov/Adobe Chinese police say there has been an increase in CBDC-themed money laundering schemes as the digital yuan rollout continues. Per the Dushichen Newspaper Agency (va JSChina), officers in Suining, Sichuan Province, stepped in to thwart a scammer. Detectives explained that...
Breaking: Binance's CZ pleads guilty to violating anti-money laundering requirements—WSJ
21.11.2023
Changpeng Zhao plans to plead guilty to violating U.S. anti-money laundering requirements and will reportedly step down as the CEO of the Binance crypto exchange
Chinese Police Bust $140 Million Crypto Money Laundering Ring
21.11.2023
Source: Pexels China’s law enforcement agency in Wuhan arrested 27 individuals involved in a sophisticated crypto money laundering and crime operation involving 1 billion yuan, approximately $140 million. The arrests were made in provinces and cities such as Deyang in Sichuan, Changchun in Jilin...
Taiwanese crypto exchange and VASP member Bitgin under investigation for money laundering
13.11.2023
The exchange confirmed its COO's brief relationship to an alleged money laundering group in a statement on November 13
Onecoin ‘Compliance’ Head Pleads Guilty to Wire Fraud and Money Laundering Charges
12.11.2023
Irina Dilkinska, the head of legal and compliance at Onecoin, has pleaded guilty to “wire fraud and money laundering charges.” The charges against Dilkinska relate to her role in organizing the transfer of $110 million in fraudulently obtained funds to a Cayman Islands entity. The $110...
Cryptoqueen’s OneCoin legal chief pleads guilty to fraud
10.11.2023
The former head of legal and compliance at OneCoin faces up to 10 years in prison for her role in the $4 billion crypto trading scheme