Oksana Markarova, Ukraine’s Finance Minister, names the local authority that will be able to track the sources of origin of crypto funds.
Money Laundering News
Every government in the world is afraid of the relative anonymity of virtual money. The explanation of that is that a government’s financial organs can’t find a viable path to minimize the risks related to the financing of terrorism and cryptocurrency money laundering. But the truth is that Bitcoin money laundering is not widespread. For instance, less than 1% of transactions between 2013 and 2016 were with cryptocurrencies of illegal origin while 2-5% of worldwide GDP is laundered annually. Due to the character of a public blockchain and the need to transfer virtual money to fiat, Bitcoins can indeed be controlled much easier. Therefore, cryptocurrency money laundering is a really complex process where even absolute anonymity is not a key to success.
- News
- News
Greece’s Council of State ruled to extradite former operator of now-shuttered crypto exchange BTC-e Alexander Vinnik to France, against the wishes of Russia.
- News
by Helen Partz
Deribit, a crypto futures and options exchange moving from the Netherlands to Panama to avoid new E.U. regulations, has clarified its new AML policy.
- News
by Helen Partz
The lawyers for Alexander Vinnik, the alleged operator of defunct crypto exchange BTC-e, have filed a complaint alleging violation of Vinnik’s rights.
- Follow up
As India’s Supreme Court inches closer to giving its final verdict on RBI’s crypto ban, experts believe the judgment will favor crypto.
- News
by Helen Partz
Binance and Huobi received over 52% of total $2.8 billion in illicit Bitcoin transfers in 2019, according to a new Chainalysis report.
- News
by Helen Partz
The House Financial Services Committee raised concerns over the use of crypto to fund domestic terrorism in the United States in a recent hearing.
- News
Greece’s top administrative court has suspended the decision to extradite Alexander Vinnik, who is accused of laundering billions of dollars through a cryptocur...
- News
by Helen Partz
Alleged $4 billion BTC launderer Alexander Vinnik to be extradited to France despite Russia’s multiple efforts to bring him to the country of his citizenship.
- News
Two more European cryptocurrency firms shut down because of the upcoming EU Anti-Money Laundering rules.
- News
The Swiss Financial Market Supervisory Authority warned that blockchain tech increases the risk of money laundering in the country.
- Analysis
Is Nordea Bank’s controversial Bitcoin ban protecting employees from themselves or using crypto as a scapegoat?
- News
by Helen Partz
The benefits associated with stablecoins pale in comparison to their risks and challenges, according to a new statement from EU authorities.
- Analysis
by Kyle White
Centralized chokepoints and blacklists, will China’s currency be interoperable with decentralized tokens?
- News
by Helen Partz
The South Korean National Assembly has progressed a bill to provide a legal foundation for cryptocurrencies in the country.
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