China’s JunHe Law Firm has released a report addressing the anti-money laundering (AML) challenges posed by digital yuan. JunHe’s Partner Chen Xin recently co-authored and published The Anti-Money Laundering Challenges and Opportunities of the Digital Yuan, an article that analyzes China’s central bank digital currency (CBDC)’s AML compliance. JunHe’s Report on Digital Yuan AML Compliance…
Read more
A group of Armenian officials from various law enforcement agencies have been trained on crypto-asset investigations to combat crypto-related crimes. The training was conducted by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA), in collaboration with the United Nations Office on Drugs and Crime (UNODC), the OSCE said in a Friday press…
Read more
The President of Indonesia Joko Widodo has raised concerns over the use of cryptocurrencies in money laundering. According to a recent report by Antara, President Widodo highlighted the alarming volume of illicit financial flows during his address at the 22nd Anniversary of the National Movement for Anti-Money Laundering and Terrorism Financing Prevention. Indonesia Joins Global…
Read more
An industry expert, on Sunday, has ‘debunked’ claims that the European Union has banned anonymous crypto wallets and transactions. On Saturday, reports spread across the industry, claiming that the EU’s recent anti-money laundering (AML) law specifically targets banning anonymous crypto accounts. However, industry expert Patrick Hansen addressed these claims, clarifying that the law does not…
Read more
Roman Sterlingov, founder of Bitcoin Fog, a major crypto-mixing service, has been convicted of money laundering in a United States District Court. In a verdict on Tuesday, Roman Sterlingov, 35, was found guilty of multiple charges, including money laundering, money laundering conspiracy, operating an unlicensed money-transmitting business, and violations of the D.C. Money Transmitters Act. Throughout the…
Read more
Two individuals, including a senior airman and cyber analyst in the U.S. military, have been charged for money laundering in connection to an NFT “rug pull” scheme, a February 23 statement from U.S. Immigrations and Customs Enforcement (ICE) reveals. Over $300,000 of Victims’ Funds Stolen Devin Alan Rhoden (a.k.a Denny or Deviinz), 24, of Florida…
Read more
The fears that Kenya’s lack of a regulatory framework for overseeing the crypto industry has prompted the government to establish a working group tasked with drafting crypto regulations. Authorities in the East African nation are confident that the approved regulations will designate a sole regulatory body to oversee the cryptocurrency industry. Lack of Regulation Threatens…
Read more
The U.S. Department of the Treasury has released its 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing, outlining the most significant threats facing the United States in illicit finance. The reports detail updates to the anti-money laundering and counter-financing of terrorism framework, addressing issues such as the fentanyl crisis, terrorist attacks, ransomware…
Read more
A British citizen recently went on trial in the U.K. for laundering bitcoins on behalf of a fugitive Chinese fraudster, Yadi Zhang. Prosecutors insist that Jian Wen was aware that Zhang’s bitcoins were acquired using stolen funds. However, Wen defended her actions and said she thought Zhang had accumulated her wealth through her jewelry business,…
Read more
EU has passed expanded powers allowing governments to freeze and confiscate crypto tied to a crime. Image by Vitalii Vodolazskyi, Adobe Stock. European Union officials reached an agreement on December 12 on new crypto regulations that will grant member states expanded powers to freeze and confiscate assets suspected of being tied to criminal activities. The…
Read more
