Criminals are laundering "billions" using bitcoin and other cryptocurrencies, according to E.U. law enforcement agency Europol. Although director Rob Wainwright used the statistics to call for more industry and regulatory action to combat it, some commentators noted the amount is tiny compared to that passing through the heavily-regulated banking system. Also see: John … [Read more...] about Europol Worries About Billions in Bitcoin Money Laundering, but What About ‘Regulated’ Banks?
There are further concerns today over links between the legacy financial system and organized crime. Their warnings came after Rabobank was fined $368 million USD for laundering money for Mexican drug cartels. Also read: Fear and Loathing in Crypto-Vegas: How the Thud of FUD Nipped Fundamentals in the Bud Subscribe to the Bitsonline YouTube channel for great videos … [Read more...] about More Concerns Over Legacy Finance Crime Links After Rabobank Fined for Money Laundering
Elliptic, a cryptocurrency analytics provider, released its study on half a million bitcoins that moved directly from illicit sources from the period between 2013 and 2016. Based on the study, it was observed that less than 1 percent of these laundering transactions entered mainstream crypto services. Also read: The Decentralized Clean Energy Platforms of the Future Are … [Read more...] about Money Laundering Firm Publishes Study on “Dirty” Bitcoins
U.S. citizen Thomas Costanzo has had a motion to suppress evidence denied in a bitcoin laundering case currently making its way through the United States District Court of Arizona. But the bigger-picture interest in this case lies in the court's de facto acknowledgement that bitcoins are a currency -- a direct rebuttal of a Miami judge's state-level decision in 2016 that … [Read more...] about Federal Judges Contradict 2016 State Ruling, Suggest Bitcoin Is a Currency
In an unfortunate but inevitable first for the cryptocurrency space, a New York woman was just indicted on five counts pertaining to her use of bitcoins as part of a scheme to funnel money to the internationally-recognized terror group Islamic State of Iraq and al-Sham (ISIS). Critics will surely try to link bitcoin with terrorism in the days to come accordingly. Also read … [Read more...] about U.S. Woman Indicted in First Bitcoin Terrorism Laundering Case