Owner of Romanian Crypto Exchange Coinflux to be Extradited to the US for Money Laundering Allegations

Owner of Romanian Crypto Exchange Coinflux to be Extradited to the US for Money Laundering Allegations

Cryptocurrencies have always carried a bad reputation due to the lack of oversight from government authorities. They always attract elements of the criminal world because of their ability to allow work freely in any jurisdiction even across borders. Due to this fact, one of the major reasons for the lack of their worldwide adoption by the mainstream industry has been the investors’ fear of being pulled into something illegal. Over the course of the last…

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The DEA Claims that Money Laundering via Cryptocurrencies Is on the Rise throughout East Asia

The DEA Claims that Money Laundering via Cryptocurrencies Is on the Rise throughout East Asia

The sudden rise in the use of cryptocurrency as a channel to launder money by all sorts of criminal organizations and drug cartels has awakened some sorts of concern among the US law enforcement agencies including the Drug Enforcement Agency (DEA). Although cryptocurrency accounts for only a tiny percentage of the total amount laundered money globally – a sum of 2 trillion USD, – the role of cryptocurrency in money laundering seems to be increasing….

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G20 Countries Opt to Regulate Cryptocurrency to Battle Money Laundering and Terrorism

G20 Countries Opt to Regulate Cryptocurrency to Battle Money Laundering and Terrorism

Money laundering in general and money laundering via cryptocurrency in particular is something that preoccupies any political leadership of industrial nation in the world. The decentralized nature of cryptocurrency, however, makes it very difficult for individual states to fight such cyber-crimes alone, and global cooperation is certainly necessary. This is why the participants of the G20 summit in Buenos Aires, Argentina have agreed together (which in itself is quite impressive) to collaborate in order to…

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Report: More Global Efforts to Fight Money Laundering that Involves Cryptocurrency

Report: More Global Efforts to Fight Money Laundering that Involves Cryptocurrency

The fight against money laundering in the crypto sphere has become fierce as the international community has made not just the fight against money laundering but also the financing of terrorism a top priority. This was made known in the Cryptocurrency Anti-money Laundering Report for the third quarter of 2018. The data shown in the report proves that there are a lot of challenges involved in the fight against money laundering as the crypto sphere…

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The Mueller Investigation: Russia’s Bitcoin Purchases, Mining and Money Laundering

The Mueller Investigation: Russia’s Bitcoin Purchases, Mining and Money Laundering

One of the most pressing issues in American politics right now that could have historic and global consequences is the Special Counsel investigation, which is led by the former FBI director Robert Mueller (and therefore often dubbed as the Mueller Investigation). The investigation probes the Russian interference in the 2016 U.S. presidential elections, and also attempts to determine if there were illicit connections between the Trump campaign and agents of the Russian government. Now it…

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