Money Laundering

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New Research: Laundering of Illicit Funds Less than 1% of Bitcoin Transactions

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The Foundation for Defense of Democracies’ Center of Sanctions and Illicit Finance in conjunction with blockchain analytics company, Elliptic, has published a study seeking to track the circulations of illicit funds within the bitcoin economy from 2013 to 2016. The research concludes that the share of funds of illicit origin comprises less than one percent … Read more

Bitstamp Is Asking Users Who Want to Withdraw a Lot of Questions

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Customers of Slovenia’s Bitstamp exchange are being forced to jump through hoops to meet an unprecedented level of compliance. A widely circulated image, purporting to reveal Bitstamp’s enhanced KYC procedure, has been attracting a lot of attention. The document requests screenshots of other cryptocurrency exchange profiles, bank account statements showing fiat deposits to third party … Read more

Litigation Filed in India for Immediate Intervention of the Flow of Bitcoins

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Litigation has been filed in an Indian High Court by a public prosecutor of cybercrime cases. Claiming that cryptocurrencies facilitate crime, he calls for their immediate ban or regulation. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Litigation Seeks Immediate Intervention A public interest litigation (PIL) was filed with the … Read more

Dancing With the Devil: ‘Cashing Out’ Cryptos Into Fiat Not So Easy

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Bitcoin and other cryptocurrency assets are precious and some of them have grown over 1300 percent in value this year. Although, with the price on exchanges being higher than ever before its now a bit more difficult for those who want to ‘cash out’ or make significantly large purchases without being watched by the prying … Read more

South Korea Outlines New Attempts to Dampen Crypto Markets

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The government of South Korea held a meeting on Thursday to discuss measures to deal with the growing trend of cryptocurrency speculation. The regulators clarified the clampdown on virtual accounts as well as other measures to end anonymity. In addition, the Ministry of Justice suggested an even more extreme measure. Also read: Russian Regulators Draft Law … Read more

EU Finance Commissioner: The Political Body Has No Plans to React to Bitcoin

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Some members of the European Union have been discussing the popularity of the decentralized currency bitcoin, and the EU’s political body recently added “digital currencies” to its anti-money laundering statutes. However, the EU commissioner for financial affairs, Pierre Moscovici, explains in a recent interview that at this stage politicians have no plans to “react” just … Read more