FCA bans world's largest crypto-currency exchange
The financial watchdog has ruled that Binance cannot conduct any regulated activity in the UK. While the FCA does not regulate crypto-currencies, it does regulate cryptoassets. Firms must be authorised by the regulator in order to advertise or sell such products in the UK. This means that people in the UK are not allowed to use Binance's services to speculate, or bet, on whether the price of a crypto-currency like Bitcoin goes up or down.
The crypto platform BINANCE wants to reject allegations of money laundering and illegal shops. For this she has now set a former criminal official of the US Finance Ministry as Global Money Laundering Reporting Officer. © Shutterstock The Kryptobörse Binance is the world leader.
Binance is the world's largest crypto shandel platform, but currently the most trouble with authorities. Most recently, the cryptobörse was in more and more countries in the sights of the authorities and had even had to fully hire individual services to prevent official steps from being initiated. Also allegations of money laundering had always become loud.
Hong Kong customs arrest four in first crypto laundering bust
Hong Kong customs officials said Thursday they had dismantled a money laundering syndicate that used cryptocurrency to process some HK$1.2 billion ($155 million) in illegal funds, in what they said was the first successful operation of its kind. In January, seven former and current bank employees were arrested as part of an operation against a US$810 million international money-laundering syndicate, in what authorities said was their biggest bust in years.
binary names Global Money Laundering Reporting Officer
How Binance has now announced in a blog post , Greg Monahan will support the company in the future as Global Money Laundering Reporting Officer in the fight against money laundering activities on the platform. Monahan is a former criminal officer of the US Finance Ministry and looks back on 30 years of experience in tracking and identifying tax evasion, money laundering and similar crimes.
Greg Monahan is responsible for binary in the future to detect and thwart money laundering transactions. (Screenshot: BINANCE / T3N)
"I will expand the international anti-money laundering and investigation programs of binary and strengthen relations with the regulatory and law enforcement agencies worldwide," said Monahan. You want to wool binary and the industry in general so a secure place for all participants: inside, supplemented Binary CEO Changpeng Zhao.
Binance says money laundering the fight - former Taxfahnder as a secret weapon
The crypto platform BINANCE wants to reject allegations of money laundering and illegal shops. For this she has now set a former criminal official of the US Finance Ministry as Global Money Laundering Reporting Officer. © Shutterstock The Kryptobörse Binance is the world leader. Binance is the world's largest crypto shandel platform, but currently the most trouble with authorities.
Since 2020, Binance has increased its advisory board and the international compliance team by a total of 500 percent - among other things, a former US Senator and the former boss of the United Nations Office for Drugs and Crime Convention were appointed.
countries have long since been visor
Still in June of this year, the British Financial Market Authority FCA had pronounced a warning of crypto platform and the activities of the United Kingdom-based subsidiary Binke Markets Ltd. restricted. Shortly thereafter, the Thai Financial Market Authority had filed a criminal value against binary.
Already in April 2021, the German BaFin had initiated a preliminary investigation against binary . The supervisory authority provides for the suspicion of a violation of the prospectus obligation.
Mexican Gang Member Gets 10 Years for Laundering $15M of Drug Money .
The money was smuggled into Mexico through ports of entry in Southern California using vehicles equipped with hidden compartments.On Thursday, 34-year-old Bianca Acedo-Ojeda of Sinaloa, Mexico received the sentencing in the U.S. District Court for the Southern District of California. Acedo-Ojeda, a member of the Sinaloa Cartel, was also ordered to pay a $50,000 fine.