BitBay exchange latest to drop Monero over money laundering risks
Estonia-based BitBay announced it was dropping Monero, with the cut-off for clients holding the cryptocurrency set for February 19, 2020.
Latest money laundering News
OneCoin-linked racehorse fund owner denies $110M laundering claims
Phoenix Fund Investments reportedly received some $110 million from the OneCoin scam in 2017, which was transferred to the fund through an Irish bank account.
OneCoin lawyer found guilty of laundering $400M in crypto fraud proceeds
Mark Scott has been convicted by the federal court in the Southern District of New York for laundering $400 million of OneCoin’s money.
Chainalysis lays off 20% of workforce to focus on profitability
Chainalysis laid off 39 workers in a bid to focus on profitability, mostly on its R&D division, despite several recent positive moves
North Korea suspected of laundering money via HK blockchain firm
North Korea has reportedly been laundering money through a blockchain company it set up in Hong Kong, in a move designed to evade international sanctions.
Facebook Libra meets fresh challenge from Australian regulators
The Libra Association may have to submit further details about how the asset will operate before Australian regulators will permit a rollout in the country.
Facebook Libra gets pounded amid attempts to boost support
Facebook executives are more determined than ever to see the Libra stablecoin participate in a global economic system.
Facebook Libra poses money laundering issue as FATF calls stablecoins ‘global risk’
Facebook offering a stablecoin like Libra has really caused regulators to shudder and become fearful that stablecoins could lead to a rise in money-laundering activity.
Why you must rethink FATF now
Outside of the previously lightly regulated cryptocurrency ecosystem, the guidance is essentially the application of FATF’s operative guidance called the “travel rule” for traditional financial institutions towards crypto businesses.
Crypto laundering scheme exposed in Australia, resident faces charges
A 21-year-old Australian woman was arraigned in court Tuesday as part of an investigation into a major fraud ring that involved cryptocurrency money laundering.
Security so lax, Binance let’s its own hackers launder money
Binance is apparently so willing to help criminals that it has already allowed its own hackers to sell off $5000 worth of BTC on the exchange.
Dutch government pledges to regulate crypto to combat money laundering
The Netherlands wants to put an end to money laundering, and they are looking at the crypto market as one of the problems.