The government department warned virtual asset service providers and other financial institutions to “identify and report suspicious transactions” related to terrorist groups. The United States Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, issued an alert for financial institutions as part of efforts to identify “suspicious activity” related to funding terrorist groups. In an Oct.…
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The U.S. Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, this week proposed regulations aimed at increasing transparency around crypto mixing services. These services, the agency says, are used by terrorist organizations and state actors to obscure financial transactions. FinCEN refers to these services as “Convertible Virtual Currency Mixing” or CVC mixing. U.S. Treasury Takes…
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While bitcoin (BTC) is already a limited asset, Mike Caldwell’s Casascius physical bitcoins take rarity to a whole new level. Between 2011 and 2013, he endowed over 27,000 coins and bars with nearly 100,000 BTC. As we step into September 2023, a limited supply of 19,082 Casascius physical bitcoins remain in circulation, with around 41,280…
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The bill was introduced in the evening and has not been published yet, but it is already causing a stir. Crypto Twitter calls it a “nonstarter.” United States Sen. Jack Reed sponsored a bipartisan bill introduced into the Senate on July 18 that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and…
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Bittrex owes $29 million on penalties for sanctions violations and may still face penalties in a case brought by the SEC. The United States Justice Department (DOJ) has filed an objection to a motion by bankrupt cryptocurrency trading platform Bittrex to allow customers to withdraw their crypto and fiat. The U.S. Treasury’s Office of Foreign…
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There were almost twice as many state actions as federal in 2022, although both the feds and the states broke previous record by significant margins. The number of crypto-related enforcement actions in the United States grew notably in 2022, according to a survey released by blockchain risk monitoring firm Solidus Labs. Both federal and state…
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Seven months ago, current Twitter owner Elon Musk said, prior to acquiring the social media giant, he would integrate cryptocurrency payments. According to sources, a team is working on the infrastructure for a payment platform, and Twitter is proceeding with regulatory approvals and registrations. Elon Musk’s Plan for Twitter Payment System Advances, Adding Cryptocurrency Later…
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FinCEN placed Binance next to the darknet market Hydra as a major counterparty receiving Bitcoin from Bitzlato. The United States Financial Crimes Enforcement Network (FinCEN) — a bureau of the Treasury Department — has argued that Binance is linked to the illegal cryptocurrency platform Bitzlato. In an order published on Jan. 18, FinCEN stated that…
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Airtm, a Latam popular cryptocurrency exchange and wallet, has announced it is winding down cryptocurrency trading and custody in its platform. The company stated that starting Jan. 4, 2023, all cryptocurrency deposits and withdrawals would be paused due to the changes in the service offer of one of its providers. Airtm Removes Cryptocurrency Trading Options…
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Twitter’s new owner says they’ll be throwing a heap of new ideas at the platform over the coming months. Twitter’s new owner Elon Musk has asked his followers to prepare for “lots of dumb things in [the] coming months” on his newly acquired social media platform. The Tesla CEO, now sole director of Twitter has…
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