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A group of EU nations have reportedly been lobbying to entrust oversight of the crypto space to a new anti-money laundering (AML) agency. Behind the move are concerns that companies dealing with digital assets can be engaged in the processing of illicit funds. Germany Leads Push to Place Crypto Firms Under EU Anti-Money Laundering Supervision … Read more
Swiss bank secrecy laws have protected Credit Suisse from having to disclose whether it was banking criminal activity, which is a far cry from the transparency blockchain technology offers. Go to Source Powered by WPeMatico
The Spanish Civil Guard has broken up a group that used cryptocurrencies as a tool to launder money. The organization, that operated in Madrid, supposedly lent these services to other criminal organizations. The MAUNA operations, as they were called by the Spanish Civil Guard, discovered phantom companies in several countries like Spain, Belgium, Sweden, Germany, … Read more
The growing popularity of cryptocurrencies has placed Russia among the leaders in adoption. But while it is yet to reach the top of the ranking, the country already has a “disproportionate share” of global activity related to some forms of crime involving cryptocurrency, according to a new study by Chainalysis. Three Quarters of Ransomware Revenue … Read more
The judge ordered pre-trial detention for Ilya Lichtenstein claiming he had the motive and the resources to flee and could become a flight risk. Go to Source Powered by WPeMatico
From money laundering concerns to the categorization dilemma, these topics will define the emerging regulatory discussion around NFTs. Go to Source Powered by WPeMatico
The Netflix documentary will be about a New York-based couple and their link to laundering nearly 120,000 BTC tied to the crime. Go to Source Powered by WPeMatico
The Colombian government has issued new regulations that force exchanges and individuals to report cryptocurrency transactions to the UIAF, the anti-money laundering watchdog in Colombia. The transactions must be reported via an online reporting system, and exchanges will be required to issue periodic reports of suspicious transactions made by users. Colombia Tightens AML Controls New … Read more
The Department of the Treasury suggested that the increasing use of art as an investment or financial asset could make the high-value art trades vulnerable to money laundering. Go to Source Powered by WPeMatico
The Central Bank of Ecuador is planning to issue cryptocurrency-specific regulation later this year. According to statements from Guillermo Avellan, the manager of the Central Bank of Ecuador, this will bring more clarity to the cryptocurrency scene in the country, and will contribute to preventing crimes such as money laundering. Central Bank of Ecuador Has … Read more
