Money laundering

The scrutiny that US regulators are imposing on cryptocurrency companies seems to be becoming a trend. Kraken is the latest company to run into trouble. The exchange had to pay a $1.25 fine for alleged illegal activity.

The former US Treasury Criminal Investigator, Greg Monahan has joined the world's largest cryptocurrency exchange Binance to oversee the company's global money laundering operations.

For long, there has been a misconception and false narrative surrounding the community of Bitcoin’s or any other cryptocurrency’s role in illicit operations.

After the news that fraudsters use Binance to launder stolen cryptocurrency funds, the exchange decided to take action to stop such activity. They have established a strong cybersecurity alliance.

Ukrainian cryptocurrency market is under-regulated and therefore attractive for those wishing to take advantage of it for criminal purposes. Recently, law enforcers exposed a gang that has laundered about $42 million using cryptocurrency.

Canada has recognized cryptocurrency handling companies such as exchanges and payment service providers, as legitimate ‘Money Services Businesses (MSB)’, as the money laundering and terrorism financing act (PCMLTFA) amendment started acting.

The beginning of 2020 was quite stressful for most cryptocurrency exchanges. On January 10, 2020, the 5th Anti Money Laundering (AML) Directive took effect. Some platforms announced their closure, while some threw all their strength into the struggle to meet the new requirements. This article will tell you how to win this battle.

Washington DC resident Kenneth Warren Rhule is facing charges of money laundering for trading more than $140,000 on Local Bitcoin. The 26-year-old got into Homeland security agents’ radar and was tricked to exchange his cryptocurrency into cash in the hands of undercover Homeland security agents.

Since the birth of Bitcoin, cryptocurrencies have been criticized for supporting illegal activities including terror operations, drug trading, human trafficking, money laundering, sex, frauds, monetizing ransomware, purchasing illicit products, and many others. People know how that accusation can damage the reputation and legal status of cryptocurrencies.