Ignatov signed a plea on Oct. 4 and faces up to 90 years in prison for money laundering and fraud charges.
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
- Crypto Myths
by Kyle White
While money laundering is noted as a key fear of regulators, the numbers shows fiat currency is still the main choice of criminals.
- News
by Helen Partz
CipherTrace’s support for BNB and Binance Chain will not affect Binancians’ security and data protection, Binance COO Samuel Lim says.
- News
by Aaron Wood
The head of Calibra — the wallet for Facebook’s Libra stablecoin — said that the network will have better money laundering standards than most other payment net...
- News
by Joeri Cant
Crypto Capital executive Oz Yosef, who is allegedly involved in Bitfinex’s $850 million loss, has been indicted on three criminal counts.
- News
by Liam Frost
Polish authorities arrest the president of controversial Panama-based payments processor Crypto Capital tied to Bitfinex and other cryptocurrency exchanges.
- News
by Jack Martin
FATF has concerns over Libra’s potential use in money-laundering if Facebook’s proposed stablecoin is to become widespread.
- News
CryptoBridge, a gateway for decentralized exchange BitShares, announces that as of this month its users will have to undergo mandatory identity checks.
- News
by Helen Partz
Executives from the Bank of Ireland have been asked to testify in the case of a OneCoin crypto scam money launderer.
- News
by Joeri Cant
South Korean exchange UpBit has announced the delisting of certain privacy coins, citing money laundering concerns
- News
Darknet financial scammers are selling cold, hard cash for only 10 to 12 cents on the dollar to buyers willing to provide a prepaid fee in Bitcoin, security res...
- Analysis
by Henry Linver
The online drug trade is on the rise. Learn about Bitcoin’s involvement and whether it is able to completely replace cash in the drug trade in the near future.
- News
A United Nations official warned that cryptocurrencies have made combating money laundering significantly harder.
- News
Transparency builds trust in cryptocurrency and dispels ‘wild west’ image, according to Jesse Spiro, global head of policy at blockchain analytics firm Chainaly...
- News
Chainalysis, a blockchain analytics firm, announces the launch of a real-time compliance alerts solution that supports 15 cryptocurrencies.
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