The developers of Bitcoin mixing service Samourai Wallet pleaded guilty to one count each of conspiracy to operate an unlicensed money transmitting business on Wednesday, taking a plea deal that drastically cut their potential prison time for their role in creating a privacy tool prosecutors say was used to launder more than $100 million in … Read more
NEW YORK — A Manhattan jury will soon begin their deliberations in Roman Storm’s trial, deciding whether the Tornado Cash developer is guilty of helping hackers and other cyber criminals launder more than $1 billion in dirty money. Earlier in the day, the jurors heard closing arguments from both prosecutors and Storm’s defense team, who each … Read more
The co-founders of Samourai Wallet are expected to plead guilty to charges that, via their bitcoin mixing service, they helped hackers and other cyber criminals launder over $100 million in dirty money, according to Tuesday court filings. Both Keonne Rodriguez and William Lonergan Hill initially pleaded not guilty after they were arrested and charged with … Read more
Bank of New York Mellon (BNY) and Goldman Sachs (GS) are rolling out tokenized money market funds for clients as digital asset adoption is accelerating. BNY, which is one of the oldest and largest custody banks in the world overseeing $53 trillion of assets, announced on Wednesday to start offering institutional investors token versions of … Read more
Wall Street giants Goldman Sachs and BNY are preparing to offer institutional investors access to tokenized money market funds, which could unlock real-time settlement, 24/7 market access and more efficiencies across capital markets. Clients of BNY, the world’s largest custodian bank, will soon be able to invest in money market funds whose ownership is recorded … Read more
Binance’s new CEO, Richard Teng, joined the company in November 2023 after its founder and former CEO Changpeng Zhao pleaded guilty in the US for violating money laundering laws. As the waters were seeming to settle around Binance’s internal turmoil, it’s new CEO also may have found himself in a similar situation. Nigeria’s House of … Read more
US prosecutors charged KuCoin, one of the world’s largest cryptocurrency exchanges, and two of its founders for failing to comply with American anti-money laundering rules. Since KuCoin’s inception in September 2017, the exchange “willfully failed” to establish and maintain a program to keep the platform from being used for illicit activity, including terrorist financing, federal … Read more
The European Union (EU) is adding more layers to its crypto-related regulations to ensure that virtual digital assets (VDAs) are not misused by criminals to conduct or finance illicit activities. The European Banking Authority (EBA) has imposed a ‘travel rule’ on crypto firms that will require them to store details of transactions on their platforms, … Read more
NEW YORK — There is at least one fact that both the defense and the prosecution agree in the ongoing criminal money laundering trial of software developer Roman Storm: the product he helped to create and run — a once-popular crypto privacy tool called Tornado Cash — was exploited by hackers and cyber criminals to launder their … Read more
As the UK aims to position itself as a leading hub for Web3 innovation, financial authorities are stepping up efforts to safeguard the crypto sector’s stability and security. A recent report from the UK’s Financial Conduct Authority (FCA) revealed that 90 percent of recent crypto firm registration applications have been rejected. Key reasons for these … Read more