The White House cybersecurity coordinator said crypto regulation is still far from becoming a reality.
Money laundering has always been a big problem in the financial sector. Turning “dirty” money into “clean” money makes it nearly impossible to trace criminal activity. One could argue money laundering is a sold as the banks themselves. US Bancorp is fined $613m to settle “willful” violations of the Bank Secrecy Act. It is once […]
The Treasury undersecretary has called for other nations to regulate cryptocurrencies to help protect the financial system and national security.
Criminals in Europe are using cryptocurrencies to launder as much as $5.5 billion (£4 billion) in illegal money according to the head of Europol, the EU’s policing agency. Director of Europol, Rob Wainwright, estimates that around 4% of all criminal proceeds in Europe are being funneled through cryptocurrencies like Bitcoin — and he expects this […]
According to reports on Tuesday, a large quantity of U.S. media outlets were sent an email from an individual claiming to be a representative of the People’s Bank of China (PBOC). The message contained a phony invitation to a press conference between the media, the PBOC, and the Hong Kong Monetary Authority (HKMA) and said […]
Regulators want cryptocurrency exchanges to know who their customers are – but that requires these companies to collect very sensitive information.
Bank of England Governor Mark Carney said cryptocurrency is often used for money laundering and other illegal activities. The statement was made when he spoke about the need to inject more transparency into the trading process. No Anonymity for Cryptocurrency users According to Bloomberg he told a committee of lawmakers when speaking to the UK Parliament […]
A recent report indicates that less than one percent of all Bitcoin transactions involve money laundering. #NEWS
US bill calls for a fintech task force to reward those with information about cryptocurrency-supported terrorism, offers grants to anti-terrorist detection research. #NEWS
Customers of Slovenia’s Bitstamp exchange are being forced to jump through hoops to meet an unprecedented level of compliance. A widely circulated image, purporting to reveal Bitstamp’s enhanced KYC procedure, has been attracting a lot of attention. The document requests screenshots of other cryptocurrency exchange profiles, bank account statements showing fiat deposits to third party […]
Cryptocurrency regulation becomes tighter as some new money laundering and drug trafficking schemes are revealed. #EXPERT BLOG
The European Union’s plans to tighten up cryptocurrency regulation are supposed “to improve the prevention of money laundering and to cut off terrorist financing.” But could it be in the interest of big banks? #REGULATIONS …
Long Island woman arrested attempting to send $150,000 in cryptocurrency to ISIS. She was charged with bank fraud and multiple counts of money laundering.
There have always been allegations tying Bitcoin to terrorist funding. So far, there has been little to no evidence to back up such claims. It seems that situation has come to change in the past few days. An American woman was arrested and accused of money laundering bitcoins. Said cleaned funds were then used to […]
A Long Island woman has been charged with sending tens of thousands of dollars to ISIS fighters in Syria. As has been widely reported, the woman allegedly used bitcoin to transfer the funds overseas. Headlines have glossed over the way the money was obtained in the first place though: by good old-fashioned credit card fraud. […]