The president of Panama, Laurentino Cortizo, has declared he will not sign the recently approved cryptocurrency bill passed by the National Assembly of the country in its current form. Cortizo stated ...
Tag: Laundering
Panama’s President Mulls Crypto Law Veto, Cites Money Laundering Concerns
In brief Panamanian lawmakers last month approved a law that would allow citizens to spend cryptocurrency. But the president of the Central American country is not in a hurry to pass the bill just yet...
Panama President demands strict anti-money laundering measures in new crypto law
Panama’s President Laurentino Cortizo said he will not sign the new cryptocurrency bill until it provides provisions for stricter anti-laundering controls, Bloomberg News reported on May 19. President...
US Treasury Department sanctions Blender.io over laundering proceeds of Axie Infinity hack
The Ronin Network’s hack was ranked as one of the largest in the decentralized finance (DeFi) sector. The threat actors behind the hack made away with over $600M worth of cryptocurrencies. The US Trea...
Money laundering accounted for less than 1% of all cryptocurrency transactions last year, according to Chainalysis
Despite the fact that 5% of the world’s gross domestic product is laundered each year in fiat currency. For perspective, the United Nations Office on Drugs and Crime estimates that between $800 ...
European watchdog publishes report urging Europe to crack down on crypto-based money laundering
European Watchdog MONEYVAL has published a report that warns of the dangers of decentralised finance and privacy coins, urging European states to crack down on cryptocurrency-based money laundering. ...
Nigerian Trio Allegedly Uses Money Laundering Proceeds to Buy Bitcoins Worth Over $43 Million – Regulation Bitcoin News
Three Nigerian nationals are accused of using money laundering proceeds to buy bitcoin worth over $43 million from cryptocurrency exchange platforms like Binance and Busha. The trio is accused of movi...
IRS And Foreign Tax Enforcers Warn NFTs Pose Growing Money Laundering Risks
Global regulators issued a new warning about how criminals can use NFTs for money laundering. Eva Marie Uzcategui/Bloomberg On Thursday, global regulators issued a new warning of the growing risks of ...
Axie Infinity Hackers Still Laundering The Theft Funds Amid US Sanctions
Last Month, Axie Infinity got Sniped by attackers who inflicted approximately $600 Million in damage. But apparently, the hackers are not yet done with their unethical acts. It is to look ...
Anchorage Technology Is Penalized By The OCC For Failure To Obey With Anti Money Laundering Rules
Anchorage became the first crypto company in the United States to be granted a national bank charter by the OCC. Former interim comptroller of the currency Brian Brooks was temporarily the CEO of Bina...
All you need to know about Wash trading and money laundering in NFTs
Cryptopunks, a Larva Labs NFT project, witnessed a “wash sale” on the Ethereum network in October 2021. Wash trading may be undertaken by a trader or a firm for a variety of reasons. For instance, the...
Indian minister wants global crypto rules to curtail money laundering risk
In her address to the International Monetary Fund, Indian Finance Minister Nirmala Sitharaman called for a global cryptocurrency framework to keep a check on the use of cryptocurrencies for illicit ac...
Indian FinMin Bashes Crypto Over Money Laundering, Terrorist Risks
Indian Finance Minister Nirmala Sitharaman reiterated her strict approach to crypto at an International Monetary Fund (IMF) meet in Washington D.C. on Monday. The finance minister bashed crypto for it...
Money Laundering and Terror Financing Biggest Risk of Crypto as per Indian Finance Minister
13 mins ago | 2 mins read Editors News As a result of the COVID-19 epidemic, India’s digital adoption rate increased. Reserve Bank of India (RBI) is working on introducing India’s own digital currency...
What are wash trading and money laundering in NFTs?
NFT wash trading is a problem for investors, the global community, collectors and traders because these participants use less liquid nonfungible tokens to manipulate the price of an asset. Due diligen...
Sanctioned Crypto Wallet Linked to North Korean Hackers Keeps On Laundering
CoinDesk has not been able to confirm when the oracle integration went live. Either way, it only affects Tornado Cash’s front-end, meaning savvy users can still interact with the smart contracts power...
Colombian Money Laundering Watchdog Postpones Crypto Transaction Reporting Resolution – Coinotizia
The UIAF, which is the Colombian money laundering watchdog, has postponed the date on which exchanges and individuals must start reporting their transactions to the organization. The institution will ...
Colombian Money Laundering Watchdog Postpones Crypto Transaction Reporting Resolution – Bitcoin News
The UIAF, which is the Colombian money laundering watchdog, has postponed the date on which exchanges and individuals must start reporting their transactions to the organization. The institution will ...
Anti-money laundering madness: crypto suffers
Anti-money laundering regulations have long since become the hottest and most problematic issue for those operating in the world of crypto and digital assets. Crypto under the crosshairs of anti-money...
Small Digital Euro Payments Won’t Need Laundering Checks, ECB Official Says
But they come in the week that the EU prepares to end the possibility for anonymous crypto payments altogether. The European Parliament is due to vote Thursday on how to extend existing money launderi...
UAE Plans to Use Blockchain and AI to Combat Crypto Money Laundering and Crimes
Mar 30, 2022 at 09:38 // News Governments are doing everything they can to combat money laundering (ML) and crimes related to cryptocurrencies. The UAE police have planned to use Artificial Intelligen...
Privacy Coins Soar Before EU Vote On Crypto Money Laundering
Privacy coins, which allow for anonymous crypto transactions, appeared to be rising ahead of a European Union (EU) vote on money laundering. The bill, if approved could see the bloc crack down on unho...
Money Laundering Scheme: Cash-to-Bitcoin of $2.3 Million caught in New york
A New York man has been charged with laundering $2.3 million in a cash-to-Bitcoin scheme while openly gloating about it on social media. In New York, a man has been accused of operating a cash-to-Bitc...
$2.3 Million Cash-to-Bitcoin Money Laundering Scheme Busted in New York
A man in New York has been charged with running a cash-to-Bitcoin money laundering scheme in New York. Among other things, the case also shows the negative bias of law enforcement to crypto. Launderin...
Indian MP Nishikant Dubey Says Crypto Is Used for Bribery and Money Laundering
Nishikant Dubey, a member of Bharatiya Janata Party’s member of parliament in India, said on Friday that cryptocurrencies are being used to facilitate bribery and money laundering. Dubey Labels Crypto...
Indian MP Says Crypto Is Used for Bribes and Money Laundering
Alex Dovbnya An MP from one of India’s two leading parties has reiterated his criticism of cryptocurrency while supporting a CBDC Nishikant Dubey, a member of parliament representing the Bharati...
Manhattan District Attorney Charges Former Party Organiser: Laundering in Bitcoin worth $2.3 Million
A former party organizer is charged with allegations related to laundering in Bitcoin and cash. This case signifies how new technologies like cryptocurrencies can emerge as key drivers of a broader ...
Former Party Organizer Indicted for Laundering $2.7M in Bitcoin and Cash
In a statement, the Manhattan DA alleged that between January 2018 and August 2021, the 42-year-old Spieker converted over $2.3 million into Bitcoin, and separately, more than $380,000 of Bitcoin into...
Feds Charge Two 20-Year-Olds In Alleged NFT Money Laundering, ‘Rug Pull’ Scheme
Some of the art used to market Frosties, a NFT project prosecutors say led to a $1.1 million … [+] swindle. Courtesy DOJ The Department of Justice hit a pair of 20-year-olds with fraud and money...
MoonPay, Startup Known for Celeb NFT Buys, Adds Obama-Era Money Laundering Watchdog
Freis, who ran the Treasury’s Financial Crimes Enforcement Network (FinCEN) under former Presidents George W. Bush and Barack Obama, will advise MoonPay’s executives and compliance officials as the st...
Fiat Is Still The King For Money Laundering, Us Treasury Department Says
US Treasury Department has stated that despite the widespread use of digital assets for money laundering, the rate is still higher with fiat currencies. The statement is contained in the Treasury Depa...
Fiat is Far More Common Than Bitcoin for Money Laundering, Confirms US Treasury Department
Earlier this month, the US Treasury Department released three-yearly reports covering money laundering, terrorist financing, and proliferation financing – all of which extensively discussed virtual as...