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 [...]

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 [...]

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, Canada

World leader in organized crime communications was launched in Vancouver, 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 [...]

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, [...]

Iran confirms supporting an ICO and several Blockchain projects

On Tuesday, Iranian officials spoke to the Iranian media and confirmed that a government organization – Iran Telecommunication Research Center – has 4 Blockchain projects in progress that have looked at using Blockchain for policy making, threat management and business use cases for Iran. Further, they announced that a project at Sharif University, funded by [...]

A guy stole $2M in Bitcoin mining equipment, escaped from prison, jumped on a plane with the Prime Minister of Iceland and no one stopped him

Sindri Por Stefansson was recently sentenced to 4 1/2 years in prison in Iceland for masterminding the theft of $2M worth of Bitcoin mining machines. This is another one of those stories that only happens in the Bitcoin world. Mr. Stefansson was arrested in February 2018 in Iceland with several others, and ordered held in [...]

US identifies Canada as major money laundering country, and notes concern over its low prosecution rate

Canada once again a “Major Money Laundering” country The 2019 “International Narcotics Control Strategy Report” (INCSR) published on Friday by the U.S. Department of State identifies Canada once again as a “major money laundering country” along with a host of risky countries for financial crime. A “major money laundering country” is one whose banks and financial [...]