Regulatory risks grow for DeFi as a ‘money laundering haven’
DeFi could fall under regulatory pressure if it is seen as a haven for money laundering. Go to Source Powered by WPeMatico
Money Laundering
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FATF hints at Binance as example of an exchange avoiding regulation
The FATF doesn’t seem to like frequent jurisdiction hoppers, notably Binance. Go to Source Powered by WPeMatico
SWIFT Says Criminals Prefer Cash for Money Laundering, Not Cryptocurrency
A new report by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) says cryptocurrency is seldom used for money laundering activities compared to fiat or other traditional methods. Despite the perception that crypto assets are a preferred haven for illegally acquired funds, criminals prefer to launder proceeds through mules, front companies, or cash businesses as … Read more
‘Exclusive mining’ could have negative implications for the Blockchain industry, say experts
A new mining concept is facing criticism in the blockchain sphere. Go to Source Powered by WPeMatico
US Hopes to Confiscate $400M: DoJ Files Forfeiture Judgment Against Onecoin Launderer
Prosecutors from the Southern District of New York (SDNY) court have submitted a “forfeiture money judgment” against the former attorney Mark Scott. The lawyer was charged with helping the Ponzi scheme Onecoin launder funds. The U.S. Department of Justice (DoJ) claims that Scott helped launder $400 million and the entity hopes to seize his current … Read more
Report suggests $1 million of ransomed Bitcoin was cashed out on Binance
Binance Security Team explains that security systems and techniques are constantly evolving to identify malicious activity while minimizing false positives. Go to Source Powered by WPeMatico
Law Decoded: Blockchains and the Eastern Bloc, August 14–21
As protests rage in Belarus and Alexei Navalny remains in a coma, we look at new developments in crypto across the former USSR. Go to Source Powered by WPeMatico
CFTC Seeks $429M Penalty Against Ponzi Operator Who Ghosted Them
While nobody can find the man behind alleged ponzi scheme Control-Finance, the CFTC is asking the court to throw the book at him. Go to Source Powered by WPeMatico
AirBit Club Ponzi Operators Charged With Fraud and Money Laundering
Proceeds were spent on luxury cars, jewellery and real estate, rather than cryptocurrency mining and trading, shock. Go to Source Powered by WPeMatico
Report: Bitcoin Untied from the Economic Cycle, ‘Largely Uncorrelated to Other Asset Classes’
On Tuesday, Coinshares Investment strategist James Butterfill published a report which shows that bitcoin is a unique asset, but is “largely uncorrelated to other asset classes” like commodities and traditional stocks. Coinshares Investment strategist James Butterfill published a new report on August 18 that shows bitcoin (BTC) is establishing itself as an investment store of … Read more