virtual currency

Russia’s Digital Currency Measures Fail to Satisfy FATF, Blacklist Possible

October 17, 2024 Bitcoin.com

anti-money laundering

Russia’s financial regulator maintains that its anti-money laundering system, including strengthened virtual currency regulations, remains effective even if the country faces potential blacklisting by the Financial Action Task Force (FATF). The agency highlighted new federal laws addressing previous concerns and stressed that no significant deficiencies exist that would justify Russia’s inclusion on the FATF blacklist, […]

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New York Regulator Hiring Blockchain Analyst to Tackle Crypto Crimes

October 7, 2024 Bitcoin.com

AML

New York’s financial regulator has a job opening for a Virtual Currency Senior Blockchain Analytics Analyst. The permanent position focuses on preventing financial crimes such as money laundering and fraud by ensuring compliance in the growing virtual currency sector. The role involves using blockchain analytics to monitor risks. Applications are due by Oct. 14. New […]

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BRICS Unified Exchange to Leverage Blockchain and Virtual Currency for Settlements

October 3, 2024 Bitcoin.com

bitcoin.com

Deputy Chairman of the State Duma Alexander Babakov proposed creating a unified BRICS exchange using blockchain and virtual currency for inter-bloc settlements. Babakov stated that such an organization “will be the key to the economic sovereignty and independence of our countries,” while sidestepping the use of third-party payment networks. Newly Proposed BRICS Unified Exchange May […]

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US Treasury Sanctions Cambodian Tycoon Over Crypto Fraud and Trafficking Links

September 13, 2024 Bitcoin.com

bitcoin.com

The U.S. Department of the Treasury has imposed sanctions on Cambodian tycoon Ly Yong Phat and his businesses, linking them to human trafficking and forced labor scams involving cryptocurrency fraud. Victims were manipulated into online scam centers, and trafficked workers were forced into labor for these schemes. The sanctions freeze U.S.-based assets and prohibit transactions, […]

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United Texas Bank Faces Regulatory Action for AML Failures Linked to ‘Virtual Currency Customers’

September 5, 2024 Bitcoin.com

AML compliance

United Texas Bank has been issued a cease and desist order by the U.S. Federal Reserve and the Texas Department of Banking due to significant compliance deficiencies. The bank must take immediate action to rectify issues related to its anti-money laundering (AML) program and corporate governance oversight. Cease and Desist Order for United Texas Bank […]

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Massive $593.5M Bitcoin Move: US Government Shifts Silk Road Stash to Coinbase Prime

August 14, 2024 Bitcoin.com

Arkham Intelligence

A transaction unearthed by Arkham Intelligence revealed that bitcoins linked to the Silk Road have been moved to Coinbase Prime. “10K Silk Road BTC ($593.5M) moved to Coinbase Prime,” Arkham posted on X. The firm further explained, “Wallet bc1ql received 10K BTC from a known US Government wallet 2 weeks ago. This BTC has just […]

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Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEO

August 3, 2024 Bitcoin.com

bitcoin.com

The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused of defrauding investors through a Ponzi scheme disguised as a cryptocurrency business. Orissa High Court […]

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279 Crypto Accounts Forfeited to US Government in North Korean Laundering Crackdown

May 12, 2024 Bitcoin.com

bitcoin.com

The U.S. District Court for the District of Columbia has ordered the forfeiture of 279 cryptocurrency accounts containing funds linked to alleged hacks of crypto exchanges by North Korean operatives. This measure is a component of a broader U.S. effort aimed at dismantling cyber operations that finance North Korea’s nuclear and missile initiatives. The decision […]

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Hong Kong Police Detain Businessman Tied to Crypto Investor’s Abduction

May 10, 2024 Bitcoin.com

bitcoin.com

A businessman from Hong Kong, linked to four individuals implicated in the kidnapping of a cryptocurrency investor, was recently taken into custody after surrendering to law enforcement. Authorities allege that the vehicle used in the investor’s abduction is owned by the businessman’s family. Crypto Investor Fails to Repay More Than $1.9 Million Hong Kong law […]

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Bittrex Receives Wells Notice From SEC for Alleged Investor-Protection Law Violations

April 17, 2023 Bitcoin.com

Altcoins

According to a recent report, the cryptocurrency exchange Bittrex received a Wells notice from the U.S. Securities and Exchange Commission (SEC) in March, signaling a potential lawsuit. The SEC’s enforcement division sent the Wells notice prior to Bittrex deciding to wind down its operations in the United States. ‘Lack of Regulatory Clarity’ in the U.S. […]

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