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OneCoin Co-Founder Pleads Guilty, Faces up to 90 Years in Jail

News Konstantin Ignatov, co-founder of alleged crypto scam OneCoin, has pleaded guilty to participation in the multi-billion dollar fraud. According to a BBC report on Nov. 14, Ignatov signed a plea on Oct. 4 and now faces up to 90 years in prison. The news was made public on Nov. 12, the BBC says..

Do Lawmakers Use AML as an Excuse to Centralize Crypto and Blockchain?

Crypto Myths Cryptocurrencies came to life as a counterweight to the global financial restrictions that are powered by banks and regulators through the use of fiat. Therefore, it is fitting that Bitcoin (BTC) broke into the limelight in 2009 and raised a lot of controversies right form the start. ..

Official: Binance Chain and BNB Will Be Traceable via CipherTrace

News American blockchain security firm CipherTrace will provide Anti-Money Laundering (AML) controls for Binance Chain and its native asset Binance Coin (BNB). CipherTrace to increase AML checks on Binance ChainBinance Chain, a public blockchain of major crypto exchange Binance and the underlying ..

Calibra Head David Marcus Touts Libra’s Money Laundering Standards

News Calibra CEO David Marcus recently claimed that the Anti-Money Laundering (AML) standards of Libra — Facebook’s proposed stablecoin project — will be better than other payments networks. Citing statements from Marcus’ speech at the Money 20/20 conference in Las Vegas, finance publication Finex..

Crypto Capital Exec Indicted on Three Criminal Counts in NY Court

The United States Attorney for the Southern District of New York has indicted Crypto Capital executive Oz Yosef on three criminal counts. An Oct. 23 court filing obtained by Cointelegraph confirmed that Oz Yosef has been indicted by U.S. authorities on conspiracy to commit bank fraud, bank fraud and..

Head of Crypto Capital Arrested in Connection With Money Laundering

News Ivan Manuel Molina Lee, the president of controversial Panama-based payments processor Crypto Capital tied to Bitfinex and other major cryptocurrency exchanges, was arrested by Polish authorities. According to local news outlet wPolityce’s report published on Oct. 24, he is suspected of money..

FATF Raises Money Laundering Concerns Over Libra and Stablecoins

News Global monetary watchdog, the Financial Action Task Force (FATF), has added its voice to the growing chorus of concerns over Facebook’s Libra and other stablecoins. Mass adoption of such currencies could hinder efforts to detect and stamp out money laundering and terrorist financing, Reuters ..

BitShares DEX Gateway CryptoBridge Implements Mandatory KYC for Users

News BitShares Decentralized Exchange (DEX) gateway CryptoBridge announced on Oct. 1 that it has implemented mandatory user Know Your Client (KYC) verification. European regulation is responsiblePer the announcement, the reason for the upcoming mandatory KYC is the 5th EU Anti-Money Laundering Dir..

Attorneys Seek Bank of Ireland Execs’ Testimony Against OneCoin Scammer

News Executives at the Bank of Ireland (BOI) could join a trial in the case against Mark Scott, who allegedly helped launder nearly $400 million via cryptocurrency scam scheme OneCoin. Four BOI witnesses to testify remotelyOn Sept. 29, the government of the United States submitted a court motion s..

Upbit Exchange Delists Privacy Coins Due to Money Laundering Concerns

News South Korean cryptocurrency exchange Upbit announced that it will cease trading support for six cryptocurrencies, including some so-called privacy coins. Block the possibility of money launderingIn a Sept. 20 notice, UpBit announced that the exchange will delist and cease trading support for ..

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