Several agencies take down Bitcoin mixing & anonymizing service

Working with Europol, several law enforcement agencies shut down a Bitcoin mixing and anonymizing service called Bestmixer, which was one of the largest mixing services for digital currencies. Mixing and anonymizing services or anonymizing exchanges process digital currencies on behalf of customers in order to make it difficult to trace them. The purpose of preventing [...]

FATF to finalize interpretation of virtual assets, digital currency exchanges and ICOs to require they be FIU-registered and supervised for AML compliance

In furtherance of the US approach to responsible innovation, the Financial Action Task Force (“FATF“)’s private sector consultation in Vienna two weeks ago, will help drive changes to FATF Recommendation 15 to bring digital currencies, ICOs, and digital currency exchanges more fully into the AML requirements in June 2019. The Vienna change will take effect [...]

Canadian Member of Parliament Introduces Bill to Allow for Crypto Capital Gains Donations to Charities

Canadian Parliamentarian Dan Albas, has introduced Bill C-452 in Parliament today which would allow holders of cryptocurrency to make charitable donations in crypto to Canadian charities and get a tax credit for their donations. The short but powerful amendment to the Income Tax Act, amends §38(a.1) to include crypto as an approved category for the purposes [...]

21-year-old SIM swapper who allegedly stole $81 million in crypto, ordered to pay it back

Bitcoin investor, Michael Terpin, won a US$75.8 million civil judgment on Friday in California against 21-year-old Nicholas Truglia who SIM-swapped Terpin’s cellular phone and stole over US$23 million from Terpin’s digital currency wallets that held coins from three ICOs. In all, Truglia is alleged to have stolen over US$81 million in crypto currencies via SIM [...]

Spanish police seize €9 million in Bitcoin as part of money laundering Bitcoin ATM ring

The Spanish Guardia Civil has arrested eight people and seized over €9 million, luxury cars, cannabis plants and jewellery in connection with an alleged money laundering operation in Spain that involved the use of Bitcoin ATMs and digital currency exchanges to launder proceeds of crime and avoid the filing of suspicious transaction reports. According to [...]

Bitcoin traced to terrorist financing

For years now, people in the digital currency space have expressed concern about digital currency exchanges and digital currencies being abused for terrorist financing. Another report, this time from researchers at BellingCat, have apparently traced the use of a digital currency exchange directly to a terrorist group. Terrorist financing is not only prohibited and a [...]

US DoJ unseals indictment against two people associated with payment processor of digital currency exchanges

The DOJ from the Southern District of New York, unsealed a grand jury superseding indictment against two people today for allegedly providing payment processing services to digital currency exchanges without being licensed and under circumstances where they allegedly lied to obtain bank accounts. They are charged with bank fraud. According to the indictment, Reginald Fowler, [...]

Australian federal police uncover Bitcoin-related alleged international drug traffickers boasting about their luxury cars and mansions on social media

Two Bitcoin-related alleged drug traffickers living large and spending above their reported incomes In the last few months, the Australian Federal Police have arrested two well-known Bitcoin guys suspected of leading secret lives as international drug traffickers. Both alleged to the public that they had real jobs, one operating a digital currency exchange and the other an IT business, [...]

World’s leading company for communications tech for money laundering and drug trafficking used by top transnational criminal organizations for 10 years, created in Vancouver

World leader in organized crime communications was launched in Canada A Vancouver company, called Phantom Secure, a little over a year ago, was the world leader in providing illegal encrypted communication services for the top international drug traffickers in the world. But perhaps no more. On March 8, 2018, the CEO of Phantom Secure, a Vancouver [...]

New York Attorney General obtains ex parte order against digital currency exchange Bitfinex

The Attorney General of the State of New York, Letitia James, announced yesterday, that her office obtained an injunction and an order for documents in Court against a large international digital currency exchange called Bitfinex and a number of companies associated with it (namely, iFinex Inc., BFXNA Inc., BFXWW Inc., Tether Holdings Limited, Tether Operations Limited, [...]