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
Oksana Markarova, Ukraine’s Finance Minister, names the local authority that will be able to track the sources of origin of crypto funds.
Ukraine to Block Crypto Wallets for Illicit Funds, Finance Minister Says
Helen Partz
2020-01-24T17:22:00+00:00
2544
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.
Greece Extradites Alleged Launderer of $4B in BTC Alexander Vinnik to France
Adrian Zmudzinski
2020-01-23T16:11:00+00:00
2766
News
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.
Deribit Releases Specifics of New KYC Policy Following Move to Panama
Helen Partz
2020-01-21T19:44:00+00:00
1915
News
The lawyers for Alexander Vinnik, the alleged operator of defunct crypto exchange BTC-e, have filed a complaint alleging violation of Vinnik’s rights.
Vinnik’s Children File a Complaint About Rights Violation to Greek Court
Helen Partz
2020-01-20T16:42:00+00:00
2306
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.
Crypto Fights for Freedom in India’s Supreme Court, Critics Cite Risk
Shiraz Jagati
2020-01-19T05:46:00+00:00
6199
News
Binance and Huobi received over 52% of total $2.8 billion in illicit Bitcoin transfers in 2019, according to a new Chainalysis report.
Research: Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019
Helen Partz
2020-01-16T17:44:00+00:00
4565
News
The House Financial Services Committee raised concerns over the use of crypto to fund domestic terrorism in the United States in a recent hearing.
US Congress Looks at Role of Crypto and Internet in Funding Hate Crimes
Helen Partz
2020-01-15T19:19:00+00:00
2918
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...
Greek Court Suspends Decision to Extradite Alleged Crypto Criminal
Adrian Zmudzinski
2019-12-24T10:09:00+00:00
1903

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