Today’s Blockchain News from Asia

Tweet 업비트 압수수색: 가상화폐 거래소의 운영시스템 ê³¼ 정부의 모호한 태도 By Eunji Lee 지난 5ì›” 10일 서울남부지검 금융조사2부는 업계 1위로 알려진 업비트를 거래소 운영상의 불법 등 혐의로 압수수색을 실시해 업계에 관련된 많은 이들에게 혼란을 주었다. 검찰은 이틀동안 수사관을 ë³´ë‚´ 업비트의 컴퓨터 하드디스크와 회계 장부 등을 확보했다. 검찰수색의 이유는 업비트가 실제로 ê°–ê³  있지 않은 가상화폐를 가진 […]

Canada doing a lot worse combatting money laundering and drug trafficking according to 2018 US INCSR report

Tweet Canada once again a “Major Money Laundering” country The 2018 “International Narcotics Control Strategy Report” (INCSR) published in March 2018 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, and is generally doing a lot worse combatting money […]

Suspected Mexican cartel member indicted for trafficking enough fentanyl to kill 10 million people

Tweet Authorities in New York indicted a man alleged to be part of the Sinaloa Mexican cartel in connection with trafficking fentanyl in quantities that would kill 10 million people. Francisco Quiroz-Zamora, aka the “fat one” was charged under the Kingpin Act, which is significant because it carries a term of imprisonment of life on conviction. […]

US Issues sanctions against Venezuela’s ICO – the Petro Coin

Tweet Executive Order  President Trump issued an Executive Order imposing economic sanction on the initial coin offering (“ICO“) by the Government of Venezuela, called the Petro coin (the “Petro ICO“). The Executive Order makes it illegal to engage in transactions, dealings or financings in connection with the Petro ICO, which would include buying, selling, trading, […]

The Howey Test

Tweet Digital currency issuers often ask about the Howey Test and its applicability to their activities. Here is our summary of the law. In determining whether digital currencies are securities, securities regulators in Canada have expressly stated that they are evaluating digital currencies within the framework of three court decisions that considered the elements of […]

US continues its take down of Bitcoin entities with indictment of foreign Bitcoin exchange that “banked” many global cyberattackers and processed $9B in payments

Tweet The US continued its take down of Bitcoin companies this week with the unsealing of an indictment against BTC-e and Alex Vinnik, and his arrest in Greece. The Indictment against Vinnik and BTC-e was obtained in January 2017, and was sealed until now so that he could be located internationally and arrangements made to […]

Foreign digital currency exchange fined $110M in US for anti-money laundering law failures

Tweet For the first time ever, the US Financial Crimes Enforcement Network (“FINCEN“), has asserted jurisdiction over a foreign digital currency exchange, BTC-E, for the purposes of fines, and assessed civil penalties for anti-money laundering law failures under the Bank Secrecy Act in the amount of $110,003,314. In July of this year, BTC-E and its […]

Biggest illegal darknet Bitcoin marketplace shut down; operated from Canada

Tweet The US DoJ has taken down what it calls the world’s largest criminal marketplace on the Internet called AlphaBay yesterday, which operated for over two years on the darknet. AlphaBay was ten times larger than Silk Road, when it was taken down in 2013. AlphaBay was a Canadian darknet illegal drug marketplace with servers in […]

Backpage.com CEO & shareholders criminally charged with money laundering

Tweet CEO & Shareholders Charged The Attorney General of California announced today that her office has filed new criminal charges against the CEO of Backpage.com and two of its controlling shareholders, charging them with 26 counts of money laundering and 13 counts of pimping children out for prostitution in connection with the website Backpage.com. According […]