PYMNTS

AUGUST 21, 2020

More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report. Cryptocurrency could be picking up some of the slack.” .

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Cryptocurrency Stablecoins Money Laundering Regulatory Compliance 139

Payments Source

MARCH 9, 2020

The Treasury secretary’s recent Senate testimony coming down on cryptocurrencies is misguided. Regulations should require building better blockchain technology at the banks.

Money Laundering 71

Money Laundering Bitcoin Treasury Cryptocurrency 71

PYMNTS

SEPTEMBER 10, 2019

The Paris-based Financial Action Task Force (FATF), an organization which acts as the standard-setter for anti-money laundering (AML) standards around the globe, said it is closely watching the development of Facebook ’s planned cryptocurrency, Libra , according to a report by Reuters. A senior U.S.

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Money Laundering Finance Law Enforcement AML 59

PYMNTS

AUGUST 20, 2018

Charges of money laundering and illegal money transmission have been levied against a 21-year-old bitcoin dealer in California. The charges allege that Burrell sold roughly $750,000 in bitcoin to about 900 individuals throughout the United States over a period that stretched from January 2015 to April 2016.

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PYMNTS

DECEMBER 1, 2020

Bitcoin saw a new all-time record high on Monday (Nov. Bitcoin’s price has been steadily rising in recent weeks, climbing above $19,000 last week , thanks to the pandemic-driven shift toward digital payments and cryptocurrency adoption by several mainstream companies, including Square and PayPal. Eastern Time.

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Bitcoin Money Laundering NOV Cryptocurrency 80

Finovate

APRIL 3, 2024

On December 13, 2022, Samuel Bankman-Fried, founder and CEO of international cryptocurrency exchange FTX, was charged with two counts of wire fraud conspiracy, two counts of wire fraud, and one count of conspiracy to commit money laundering. Since then, cryptocurrencies in general and bitcoin in specific, have been on a tear.

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Crime Bitcoin Cryptocurrency Ransomware 52

PYMNTS

SEPTEMBER 10, 2019

The Geneva-based, Facebook-led Libra cryptocurrency will have to adhere to stringent regulations, Reuters reported on Tuesday (Sept. Under Secretary of Terrorism and Financial Intelligence Sigal Mandelker told Geneva reporters that all cryptocurrency projects operating in the U.S.

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Money Laundering Finance Cryptocurrency Digital Currency 43

PYMNTS

MARCH 1, 2019

In other news, there were more than 7,000 cases of suspected crypto-related money laundering reported to police in Japan last year. ” Coinhive , an in-browser Monero cryptocurrency miner that has been plagued by malware, revealed it is shutting down all week.

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Money Laundering Bitcoin Blockchain Cryptocurrency 75

PYMNTS

NOVEMBER 10, 2020

Scan the headlines over the past few weeks and cryptos, well beyond the marquee bitcoin, are making inroads into mainstream consumer and business activities. PayPal is opening its network to allow consumers to shop using cryptocurrency. Square bought $50 million of bitcoin. The mechanics and clumsiness of it all have not helped.

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Cryptocurrency Blockchain Bitcoin Online and Mobile Banking 129

PYMNTS

JULY 11, 2019

Federal Reserve called for a stop to Libra , Facebook’s proposed cryptocurrency, until the project better demonstrated how it was going to address issues like money laundering and privacy, according to a report by Reuters. Bitcoin was last down 4.5 Other cryptocurrencies, like Ethereum and Ripple, saw similar slumps.

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PYMNTS

NOVEMBER 30, 2020

When PayPal announced recently that its 350 million users can deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants next year, it was characterized as the inevitable advance of digital currency. Bitcoin is like a [crypto] 101 version. You Can’t Spend It.

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Bitcoin Cryptocurrency PayPal Privacy 117

PYMNTS

JANUARY 13, 2021

Department of Justice (DOJ) sentenced the owner of Bulgarian crypto exchange RG Coins to 121 months in prison for money laundering, according to a press release. After receiving payments, the conspirators would convert them to cryptocurrency and send that to money launderers abroad, like Iossifov.

Money Laundering 52

Money Laundering Office of the Comptroller of the Currency OCC Online and Mobile Banking 52

PYMNTS

OCTOBER 21, 2018

The Financial Action Task Force (FATF) announced that it will get one step closer to creating international standards for cryptocurrency when it launches its first set of rules in June of 2019. The move aims to stop the use of crypto for money laundering, terrorism financing or other crimes. Last year, the U.K.

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AML Money Laundering Bitcoin Regulations 79

PYMNTS

OCTOBER 7, 2020

With transactions that become irreversible almost instantaneously, bitcoin and other cryptocurrencies are winning new converts — among scammers eager to avoid credit card chargebacks that can eat into their ill-gotten gains. So, use your credit card to buy cryptocurrency that you give a scammer and you might be stuck.

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Bitcoin Consumer Scams Cryptocurrency 93

PYMNTS

OCTOBER 12, 2020

Malcolm, according to a press release , boasts a wide background in anti-money laundering and compliance, saying compliance was “non-negotiable, and a prerequisite for exchanges to be embraced by regulators and institutional investors alike.”.

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Bitcoin Money Laundering Compliance Non-Bank 104

PYMNTS

DECEMBER 18, 2020

18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. Bitcoin is a popular example. Treasury Department proposed sweeping new rules late Friday (Dec.

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Treasury Rules Bitcoin Ransomware 141

PYMNTS

JANUARY 30, 2020

Zermatt, a ski resort town of 5,400 residents in Switzerland, has decreed that cryptocurrency bitcoin can now be utilized to pay taxes and other government services, Bloomberg reported. Mayor Romy Biner-Hauser confirmed that her residents can now pay for an array of traditional government services using bitcoin.

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Bitcoin Ransomware Money Laundering Cryptocurrency 61

PYMNTS

AUGUST 7, 2020

German authorities are cracking down on several allegedly illicit cryptocurrency-related operations in the country. The crypto company operates 17 of the 67 bitcoin ATMs in Germany, according to CoinDesk. The police worked with the FBI to trace and identify the Bitcoin involved. Movie2k.to

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Bitcoin ATM Money Laundering FBI 63

The Fintech Times

JANUARY 12, 2024

The cryptocurrency ecosystem is celebrating as it is one step closer to becoming a part of the mainstream financial world. The US has become the ninth country to approve a spot Bitcoin exchange-traded-fund (ETF) following the Security and Exchange Commission ‘s (SEC) latest announcement. ” Hester M. ” Hester M.

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Bitcoin Regulations Cryptocurrency Money Laundering 64

PYMNTS

JULY 2, 2019

Dutch ministers have revealed plans to regulate cryptocurrencies in order to prevent money laundering in the country. As part of the plan, the ministers propose tightening the regulation of cryptocurrency services and initial coin offerings (ICOs), as well as boosting investments in projects to prevent crimes.

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Money Laundering Bitcoin Stablecoins Cryptocurrency 40

PYMNTS

MARCH 16, 2020

Guznov said per reports, “We believe there are big risks of legalizing the operations with the cryptocurrencies, from the standpoint of financial stability, money laundering prevention and consumer protection.”. The individual received a penalty of $1,570 and jail time of three years.

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Bitcoin Digital Currency Central Bank Money Laundering 97

PYMNTS

JULY 26, 2020

Bitcoin surpassed $10,000 on Sunday (July 26) for the first time since June, hitting $10,200, Reuters reported. Bitcoin has been negatively impacted by the pandemic over the past few months, halving for the third time in May and slicing the rewards bitcoin miners earn, per Reuters. ruled that bitcoin is money.

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Bitcoin Regulations Money Laundering Rules 64

PYMNTS

JUNE 22, 2020

New Zealand police have frozen $90 million they say belongs to alleged bitcoin scammer Alexander Vinnik in what’s being called the country’s largest money seizure ever. Gox, the bitcoin exchange based in Japan. In 2017, Vinnik was arrested while on vacation in Greece at the request of U.S. authorities, AP reported.

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Bitcoin Money Laundering Crime Financial Crimes 72

PYMNTS

MAY 20, 2020

And now the fraudsters, increasingly, seem to be eyeing bitcoin, the marquee name in cryptocurrency, as coin of the realm across the dark web. It should be noted that the value of the activity rose, due in part for the price per bitcoin advancing through the period (thus the total number of transactions decreased).

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Bitcoin Scams FBI Cryptocurrency 55

PYMNTS

JUNE 19, 2019

The announcement of Facebook’s Libra has buoyed other cryptocurrencies, especially Bitcoin, which gained in the neighborhood of 12 percent this week, to $9,477. The last time Bitcoin got close to the $10,000 level was in May 2018, but it couldn’t close the gap.

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Bitcoin Law Enforcement Money Laundering Cryptocurrency 72

PYMNTS

MAY 12, 2020

Bitcoin has long been the marquee name — shorthand, if you will — for the cryptocurrency space. And in recent months, the ride has been wild for bitcoin pricing amid the pandemic. On the other hand, bitcoin is also well off of its all-time highs of just under $20,000. bitcoin exchange.). based crypto exchanges.

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Bitcoin FBI Cryptocurrency Scams 60

PYMNTS

JUNE 14, 2020

Xapo , a crypto wallet and bitcoin custodian, will no longer deal in credit card payments for digital asset purchases, according to an email from the company, as reported by CoinDesk. Xapo will also implement new restrictions on bank transfers, depending on a user’s location.

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Bitcoin Money Laundering Legal Gateways 80

PYMNTS

JANUARY 29, 2019

Francesco Firano, founder of cryptocurrency exchange BitGrail , has been ordered to repay the $170 million worth of cryptocurrency that allegedly went missing last year. He also deposited 230 bitcoins ($1.8 million) onto another cryptocurrency exchange and tried to withdraw the money through a bitcoin ATM.

Digital Currency 67

Digital Currency Bitcoin AML Cryptocurrency 67

PYMNTS

OCTOBER 26, 2020

million in discounted bitcoin in exchange for gift cards — an amount that a report from Arcane Research says is half Paxful's trade volume, Cointelgraph reports. Trade of bitcoin for gift cards, the report says, comes out to 48 percent of Paxful's revenue. On P2P marketplace Paxful , traders are selling up to $16.2

Bitcoin 67

Bitcoin Money Laundering Cryptocurrency Stablecoins 67

PYMNTS

SEPTEMBER 15, 2020

South Korea and Singapore regulate digital currency trades, while China recently let bitcoin be exchanged as virtual property instead of fiat currency. Hackers took a combination of digital currency, including bitcoin. In other news, the U.S. Fisco had bought the Zaif exchange shortly following the incident.).

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Bitcoin Digital Currency Money Laundering Cryptocurrency 67

PYMNTS

FEBRUARY 24, 2017

Is there an alternative, profound French phrase or two that can describe what investors have seen this week with bitcoin? Bitcoin is quickly headed toward fresh three-year highs after jumping up over $100 in value since last week’s tracker. 23) morning, bitcoin had broken $1,150 in value, reaching a high of $1,153.04.

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Bitcoin Money Laundering ATM Cryptocurrency 77

PYMNTS

MAY 6, 2020

Irish bitcoin ATM operator Boinnex found itself facing roadblocks from Allied Irish Banks (AIB), which shut down its account and said it didn’t want to deal with an unregulated form like cryptocurrency, according to CoinDesk. Cryptocurrency still isn’t recognized by the Central Bank of Ireland as a legitimate form of payment.

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Bitcoin Cryptocurrency AML Money Laundering 70

PYMNTS

MAY 29, 2020

Bitcoin : not worth much – except what someone else is willing to pay for it. Goldman Sachs’ withering assessment of bitcoin this week may be enough to take some wind out of the sails of those who have been looking for the marquee name in crypto to find its way into mainstream commerce. Meanwhile, money laundering represented $2.8

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Bitcoin Wire Transfer ACH Network Money Laundering 74

PYMNTS

DECEMBER 21, 2020

Italian police charged the former head of cryptocurrency exchange BitGrail, identified by the initials of “F.F.,” with money laundering, fraudulent banking and computer fraud, Reuters reported. “It cryptocurrency exchange Exmo reported a “major” security breach on Mon. They allege that F.F. Meanwhile, U.K.

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Blockchain Bitcoin Money Laundering Cryptocurrency 82

PYMNTS

DECEMBER 15, 2017

A Long Island woman has been indicted on money laundering charges after she allegedly funneled $85,000 through bitcoin and other cryptocurrencies to ISIS. Attorney’s Office in federal court on a number of charges, including bank fraud and three counts of money laundering. .

Bitcoin 40

Bitcoin Money Laundering Cryptocurrency Credit Cards 40

PYMNTS

JULY 12, 2019

Cryptocurrency exchanges in Canada will now only have to report transfers of more than CA$10,000 ($7,663). The move comes after the Canadian government decided to ease up on some of its new anti-money laundering regulations due to feedback from payment service providers and crypto exchanges.

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Bitcoin ATM Rules AML 40

PYMNTS

DECEMBER 4, 2019

But not bitcoin. But not bitcoin. The price of bitcoin, that marquee name in cryptocurrencies, has plummeted in the last several weeks, down roughly 20 percent at this writing to a recent $7,400, where the price had been more than $9,400 a month ago. Those firms will help distribute the cryptocurrency to end users.

Digital Currency 55

Digital Currency Bitcoin Money Laundering Cryptocurrency 55