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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
A special agent with the Internal Revenue Service (IRS) says the tax agency is “seeing mountains and mountains of fraud” in the cryptocurrency space. The IRS criminal investigation unit is trying to train all of its agents on crypto and non-fungible token (NFT) issues because “this space is the future,” he stressed. IRS Special Agent … Read more
Chainalysis report detailed how cyber criminals laundered their crypto funds in 2021 compared to the previous year, with DeFi protocols seeing the biggest increase in use. Go to Source Powered by WPeMatico
A group of investors in Africrypt are reportedly pushing to have criminal charges pressed against directors of the now-defunct cryptocurrency investment platform. Opponents of the move have argued that this push is unlikely to succeed because many of the investors have already been reimbursed part of their funds. Mystery Investor Injects More Than $5 Million … Read more
Authorities in Hong Kong have arrested two individuals accused of laundering about $384 million using various avenues including a cryptocurrency exchange trading platform. If convicted, the two face a maximum jail sentence of 14 years plus a fine of $5 million. An Indictable Offense Two people accused of laundering about $384 million using a cryptocurrency … Read more
Cyprus’s finance ministry stressed the need to accelerate its capacity building for the crypto industry. Go to Source Powered by WPeMatico
The hearing on digital assets will involve discussions around four key aspects: crypto exchanges, stablecoin offerings, regulatory concerns in digital assets and federal regulatory responses. Go to Source Powered by WPeMatico
Under the pretext of holding corrupt actors accountable, the new taskforce will address crimes related to the criminal misuse of cryptocurrency. Go to Source Powered by WPeMatico