#money

U.S. authorities have brought charges against three British nationals, the creators of the NFT project Evolved Apes, for conspiracy to commit fraud and money laundering. Investigators claim that Mohamed-Amin Atcha, Mohamed Rilaz Waleedh, and Daood Hassan promised to develop a video game but disappeared just two weeks after the fundraising.

The term "ultrasound money" refers to a currency that resists inflation and maintains its long-term purchasing power.

U.S. Senator Elizabeth Warren of Massachusetts has once again expressed her concerns about cryptocurrencies, emphasizing the need for their compliance with current traditional financial regulations. She highlighted her proposed anti-money laundering legislation, which could have adverse effects on the crypto sector, awaiting further examination.

At a parliamentary committee session, New Zealand central bank governor Adrian Orr voiced his skepticism towards stablecoins, labeling them as inherently unstable. He argued that their reliability is solely contingent on the financial reserves of the issuing entity. The governor also dismissed the notion of Bitcoin or any similar cryptocurrency as a viable substitute for fiat money or a store of value.

Taiwan's law enforcement agencies have requested the court to authorize the arrest of ACE Exchange's president Chenhuan Wang and four others on accusations of money laundering and fraud. They're also seeking to limit their interaction with others while under detention.

Howard Lutnick, the CEO of financial company Cantor Fitzgerald, has come out in support of Tether (the issuer of the USDT stablecoin) amidst various allegations of money laundering and insufficient backing. He highlighted his firsthand experience with the company, overseeing some of their assets.

The cryptocurrency company Tether has been highlighted in a recent UN report on crime, due to the prevalent use of its stablecoin, USDT, in money laundering and fraudulent activities, particularly in Southeast Asia. The token is notably being used in sham investment schemes promising high returns.

A new product named Ether․fi Cash is designed as an alternative to the often complex and costly off-ramp process of converting cryptocurrency to fiat money. The developers hope that this innovation will allow cryptocurrency holders to operate entirely within the blockchain ecosystem.

The U.S. Department of Justice is pushing for a three-year prison sentence and a $50 million fine for the former Binance CEO, Changpeng Zhao (CZ), due to violations of federal sanctions and anti-money laundering laws.

American authorities have charged Charles Parks III with fraud and money laundering related to his operation of illegally mining cryptocurrencies using cloud services. From January to August 2021, the suspect orchestrated a cryptojacking scheme, exploiting third-party computing resources and equipment to mine cryptocurrencies.

Belarusian-Latvian entrepreneur Aliaksandr Klimenka was apprehended on December 21, 2023, in Latvia by US authorities. He now faces charges of money laundering conspiracy and operating the unlicensed cryptocurrency exchange BTC-e.

The European Council and Parliament have tentatively agreed to bring the cryptocurrency market under the purview of EU anti-money laundering (AML) and anti-terrorism financing laws.

The South Korean government intends to establish specific regulations targeting cryptocurrency mixers, which are used to obscure the origin of digital assets. This initiative is driven by the challenges these services pose in tracking money laundering conducted by criminal organizations.