Two different people run Binance and Tether, but both claimed to be against illicit acts in the 'crypto' space, which proved untrue for the former, while the latter shows signs of false assertions.
The announcement comes over a year after Bittrex was forced to pay more than $53 million in settlements to the OFAC and FinCEN for failing to implement effective sanctions and AML compliance.
Binance attempts to stay afloat with the appointment of its new CEO after CZ stepped down following a guilty plea on charges tied to sanctions violations and breaching the Bank Secrecy Act.
The move was announced by the Financial Crimes Enforcement Network, identifying coin mixing operations as “a class of transactions of primary money laundering concern.”
Regulators, including California's Fair Political Practices Commission, are revising digital currency campaign donations rules to ensure transparency and compliance.
Recognizing the threat of "cryptocurrencies," U.S. lawmakers released a bill fortifying existing AML/CFT rules governing the financial system to help transform the sector into a safer space.
U.S. District Judge Amy Berman Jackson has given the parties until 5 p.m. on June 15 to report back on their progress before she makes any final decision regarding the SEC’s request to freeze funds.
Bittrex will settle its $24.3 million penalty for breaching multiple sanctions programs, while Coin Center seeks to tame OFAC's aggression by filing a suit for sanctioning Tornado Cash.
Huobi obtained a money business service license but has yet to attain the money transmitter license, which would allow it to offer digital asset exchange services.
U.S. Government Accountability Office said that since digital currency ATMs are not as strictly regulated, they can allow human traffickers to move funds discreetly and recommend tougher measures.
The new bill is meant to curb ransomware attacks, requiring all businesses to report these attacks and the U.S. Treasury to keep such details confidential.