Tag: Money

DOJ arrests Samourai Wallet founder over $2b illegal money flow 

Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill have been arrested by U.S. authorities for laundering over $100 million. According to an April 24 press statement from the U.S. Department of Justice, federal prosecutors have indicted Rodriguez and Hill with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitter via crypto-mixing platform Samourai.  Per the notice, Rodriguez was arrested on U.S. soil, while Hill was apprehended in Portugal and will be extradited to face trial. If convicted, Rodriguez faces a sentence of up to 20…

Samourai Wallet Founders Arrested and Charged With Money Laundering

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Indonesian President Joko Widodo Warns of Money Laundering via Crypto and NFTs

Gibran, the son of current President Widodo, vocally emphasized that Indonesia needs blockchain and crypto experts to advance the country’s technological sector during election campaign, while Prabowo and Gibran’s National Campaign Deputy Chairman, Erwin Aksa, previously mentioned that Prabowo and Gibran will improve tax compliance supervision for crypto assets as many are not compliant in reporting taxes. The official inauguration of Prabowo and Gibran is set for October 20, 2024. Source

The Protocol: Using the Money Printer

If you have the money printer – as is the case for many of the blockchain projects with the power to create their own digital tokens – why wouldn’t you use it? PLUS: Vitalik Buterin riffs on meme coin and Ethereum’s new “blob market.” Source

Crypto Exchange Kucoin and Founders Charged With Bank Secrecy Act and Money Laundering Violations

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The Southern District of New York has announced charges against the global cryptocurrency exchange Kucoin and its founders for major violations of U.S. anti-money laundering laws. Kucoin Faces Legal Firestorm for Alleged Anti-Money Laundering Failures Damian Williams, the United States Attorney for the Southern District of New York, detailed the charges against Kucoin, accusing the […] Source

Dutch Prosecutors Reportedly Charge Tornado Cash Developer With Money Laundering

Alexey Pertsev, a developer for Tornado Cash, has reportedly been indicted by prosecutors in the Netherlands. They accuse him of laundering $1.2 billion. Pertsev’s attorney confirmed the prosecutors’ intent to charge his client. According to Dutch prosecutors, while a crypto-mixing service is not “inherently illegal,” using it to launder criminal assets is punishable. Dutch Prosecutors […] Source CryptoX Portal

Russia Introduces Bill to Apply Money Laundering Controls to Digital Ruble Transactions

A group of lawmakers in Russia introduced a bill that would extend money laundering controls to digital ruble transactions. The proposal, spearheaded by the Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov, establishes different responsibilities for platform participants and the Central Bank of Russia, which is appointed as the main AML […] Source CryptoX Portal