Singapore Investigates Illegal Worldcoin Accounts, Token Sales
Unauthorized Worldcoin accounts are under investigation in Singapore for money laundering and terrorism financing. Gan Kim Yong, the chairman of the Monetary Authority of Singapore (MAS) and the deputy prime minister of Singapore, disclosed an ongoing investigation into a group of individuals who provide third-party sales and acquisitions of Worldcoin accounts and tokens on September […]
Binance Exec’s Trial Moved Up Despite Lack of Legal Counsel
The Nigerian government accuses Binance of being responsible for the fall of the Naira currency amid multiple alleged money laundering charges. The legal trial for Tigran Gambaryan, a Binance executive and former United States federal agent, has been moved to September 2. The crypto industry is anxiously awaiting the outcome. Gambaryan’s next court hearing is set […]
Germany Seizes $28M in Unlicensed Crypto ATM
Germany financial regulator raids targeted unlicensed ATMs that potentially facilitated money laundering and other illicit activities. The German authorities have launched a crackdown on the unlawful use of cryptocurrency ATMs, seizing thirteen machines from thirty-five different locations, along with twenty-eight million dollars in cash. The execution of this operation on August 20 underscores the nation’s […]
Lawsuit Labels Binance a ‘Crypto-Wash Empire’ Over Money Laundering
Binance and former CEO Changpeng Zhao face a class-action lawsuit in Seattle, alleging consumer harm from the exchange’s money laundering activities. The suit claims they prioritized profits by enabling illicit actors to launder funds. In a Seattle Federal court, a new class-action lawsuit has been filed against Binance and its former CEO, Changpeng Zhao, for […]
China Tightens Crypto Money Laundering Laws
China tightens money laundering laws, targeting virtual assets and establishing new prosecution requirements starting August 20, 2024. China’s Supreme People’s Court and Supreme People’s Procuratorate have introduced new measures aimed at strengthening anti-money laundering laws. Effective August 20, 2024, these legal interpretations establish stricter conditions for prosecuting money laundering offences. China’s Focus on Virtual Assets […]