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Roman Storm, a software developer of Tornado Cash, is headed to trial after a New York judge ruled against his motion to dismiss criminal charges. District Judge Katherine Polk Failla rejected Storm’s request to drop charges tied to money laundering and sanctions violations. Russian co-defendant Roman Semenov remains elusive and on the run, evading capture … Read more
Two crypto exchanges and two individuals have been sanctioned for ties to underground finance. Go to Source
On Tuesday, Sept. 24, 2024, Caroline Ellison, the former CEO of Alameda Research, was sentenced to 24 months in prison after admitting to her involvement in several crimes. The courtroom banned cameras, video, and phone recordings during the sentencing. Even though the judge commended her in court, saying, “I’ve seen a lot of cooperators in … Read more
India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised India’s progress but pointed out areas needing improvement, especially in regulating the non-financial sector and virtual asset providers. The country was … Read more
German authorities sent a loud and clear message to criminal users of the exchanges: We found their servers and have your data — see you soon. Go to Source
Chinese authorities’ recent actions to define crypto as a money laundering tool could influence the performance of its billion-dollar gaming industry. SCMP’s Hugh Harsono argues that these measures may affect games like Metacene, which has introduced cryptocurrencies as in-game currency. In addition, games that include play-to-earn components and non-fungible tokens (NFTs) could also be impacted … Read more
A Denver resident has been convicted of running an illegal gambling business involving several parlors across Colorado. The scheme involved electronic games and a fake cryptocurrency to conceal the exchange of credits for cash, revealing fraud and money laundering. The only function of this crypto “was to be exchanged for cash at an ATM-like ‘cryptocurrency … Read more
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Brazilian police dismantle $9.7 billion crypto laundering rings, Brazil uses an artificial intelligence (AI) tool to detect tax fraud linked to cryptocurrency, and Latam’s neobank Nubank halts trading of its coin. Operation Niflheim: … Read more
According to the Chinese government, 1,391 individuals have been prosecuted on money laundering-related charges in the first half of 2024. Go to Source
China is moving to update its legislation to tackle new money and cryptocurrency money laundering crimes. The Chinese Congress is set to introduce new money laundering concepts in the second review of the money laundering law draft revision, which will establish additional requirements for monitoring tech-related new money laundering risks. China to Address Crypto Money … Read more