SEATTLE (AP) — Binance founder Changpeng Zhao was sentenced Tuesday to four months in prison for allowing rampant money laundering on the world’s largest cryptocurrency exchange. A judge credited Zhao for taking responsibility for his wrongdoing but said he was troubled by the now-former CEO’s decision to ignore U.S. banking requirements that would have slowed
Venezuela is reportedly expected to increase its use of cryptocurrency when the United States reimposes oil sanctions on the country beginning June 1. A Venezuelan opposition politician, Leopoldo Lopez, and a national security leader at New York-based blockchain data firm Chainalysis, Kristofer Doucette, released a report Monday (April 29) saying that democratic governments should set up structures to
A fresh set of ‘alert indicators’ have been issued by India’s financial intelligence unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels as part of the anti-money laundering and counter-terrorism financing regime. These new guidelines have been issued under
“Investigating money laundering involving cryptocurrency presented us with challenges as it possesses a high degree of anonymity and it is not restricted by jurisdictions,” Florence Yeung Yee-tak, commander of customs’ financial investigation division, said on Thursday. “We acted on intelligence, and conducted capital flow analysis and financial investigations.” Officers mounted an operation on Wednesday targeting
GRAND RAPIDS, Mich. (WOOD) — A man was charged with wire fraud and money laundering for faking applications to receive federal COVID-19 loans in 2020, according to court documents. In April 2020, Ralston Lewis of Kent County submitted two applications for Paycheck Protection Program loans from the federal government, court documents say. This money was
Ahmedabad: Officials of Enforcement Directorate (ED) Ahmedabad provisionally attached movable properties in the form of cryptocurrencies, gold and cash amounting to Rs 433 crore, identified as proceeds of a cryptocurrency scam involving Divyesh Darji and others under the provisions of the Prevention of Money Laundering Act (PMLA).“The ED initiated an investigation under the provisions of
He added that Torsak’s legal team withdrew the lawsuits they had submitted at the South Bangkok Criminal Court shortly before 1pm on Saturday. “This will also protect us from allegations that the defamation lawsuits were filed to silence Sittra,” Torsak’s lawyer said. He added that the police chief would fully cooperate with investigators to prove
As of last June, most of the world’s governments hadn’t begun regulating the cryptocurrency sector. That’s according to a new report by the Financial Action Task Force (FATF), whose president told CoinDesk Thursday (March 28) that this low level of response — with under 30% of the world’s jurisdictions regulating crypto — requires a “call to
The EU has introduced a new directive that outlaws transactions using anonymous, privately managed crypto wallets for any transaction value. A European Parliament representative revealed that the directive received approval from the majority of the EU Parliament’s leadership committee on Thursday. This latest regulation, aimed at combating money laundering, sets limits on cash transactions and
HAGÅTÑA (The Guam Daily Post) — A man was sentenced to 2-1/2 years in federal prison for stealing $5.5 million from clients in a scheme that involved exchanging and transferring cryptocurrency. On Thursday in the District Court of Guam, Julien Abat Weymouth, 21, was sentenced for operating an unlawful money transmitting business. Senior Judge Alex Munson