Day: November 15, 2019

Crypto Markets Turn Red While BTC Fails to Impress Below $8,500

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Friday, Nov. 15 — Crypto markets are mostly showing red candlesticks, while Bitcoin (BTC) fails to impress as it crawls its way below the $8,500 price point. Cryptocurrency market daily overview. Source: Coin360 For most of the day, the world’s largest cryptocurrency has been trading within a tight range between $8,700 and $8,600, while taking a sudden swing below the $8,500 price mark during recent hours. Bitcoin is currently trading at a price of $8,480, showing a loss of 1.85% on the day. Bitcoin daily price chart. Source: Coin360 Despite…

New Files Allegedly Connect $450M in Lost Bitcoin to Russian Intelligence

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$450 million worth of lost cryptocurrency from the now-defunct cryptocurrency exchange WEX may have been transferred to a fund belonging to Russian intelligence agency the Federal Security Bureau (FSB), according to an investigation by the BBC’s Russian Service published on Nov. 15. The BBC’s recent investigation into the BTC-e crypto exchange case, in which co-founder Alexander Vinnik stands accused of fraud and laundering as much as $4 billion in Bitcoin (BTC) over the course of six years, has revealed new details which allegedly connect lost customer funds to the FSB.…

Criminal Case Against Failed WEX Crypto Exchange Points at Russian Law Enforcement

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The formerly anonymous administrator of the cryptocurrency exchange WEX, which shut down last summer, has made some shocking claims about the fate of “hundreds of millions” of dollars of clients’ cryptocurrency in talks with Russian police. Russian citizen Alexei Bilyuchenko, who confessed to being the tech administrator of the infamous BTC-e exchange and later co-founder of WEX, had been questioned as part of a criminal investigation underway in Russia since late 2018, BBC News Russian reported Friday. The report was based on materials of the probe, obtained by the BBC and reportedly…

US Will Strictly Enforce Anti-Money Laundering In Crypto

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The United States Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco said that Anti-Money Laundering (AML) laws will be strictly enforced in the world of cryptocurrencies. On Nov. 15, Reuters reported that Blanco made it crystal clear that cryptocurrency companies engaged in money service businesses will have to comply with AML laws and share information about their customers. Travel rule also applies to crypto Speaking at a conference hosted by Chainalysis, a New York-based blockchain analysis company, Blanco told the audience that the so-called travel rule also applied to digital…