The U.S. has sanctioned 13 Russia-linked FinTechs for allegedly using cryptocurrency to evade bans. “Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund its war against Ukraine,” Brian Nelson, undersecretary of the U.S. Treasury for terrorism and financial intelligence,...
Wells Fargo has been fined $97.8 million for sanctions-related violations from 2010 to 2015. The bank reached settlements of $67.8 million with the Federal Reserve Board and $30 million with the Treasury Department’s Office of Foreign Asset Control (OFAC), the two regulators said in separate...
The U.S. Treasury Department is flexing its cryptocurrency enforcement muscles as industry attention grows. The turbulent crypto sector has historically suffered from the perception that its anonymous and decentralized technical architecture provides a haven for money laundering and other illicit activities around the globe. “2022...
The most notable thing about the cryptocurrency exchange Huobi’s decision to delist seven anonymity-focused “privacy coins” beginning Monday (Sept. 19) is that it comes just two months after it acquired a license allowing it to enter the U.S. market. On July 5, Huobi announced that...
January 30, 2023
The U.S. Treasury Department is flexing its cryptocurrency enforcement muscles as industry attention grows. The turbulent crypto sector has historically suffered from the perception that its anonymous and decentralized technical architecture provides a haven for money laundering and other illicit activities around the globe. “2022 was a really big year for sanctions,” Andrew Fierman, head of […]
April 11, 2024
Morgan Stanley is reportedly facing investigations by several agencies into how its wealth management division vets and monitors clients who may pose money-laundering risks. The Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency (OCC), the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC) and the Federal Reserve are probing the bank, The Wall Street Journal (WSJ) reported Thursday […]
March 26, 2024
The U.S. has sanctioned 13 Russia-linked FinTechs for allegedly using cryptocurrency to evade bans. “Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund...
March 30, 2023
Wells Fargo has been fined $97.8 million for sanctions-related violations from 2010 to 2015. The bank reached settlements of $67.8 million with the Federal Reserve Board and $30 million with...
August 24, 2022
Bitcoin kiosk company Coinme now sells ether, polygon, chainlink, dogecoin, litecoin and stellar from its 10,000 grocery store kiosks, a Coindesk report said Wednesday (Aug. 24). The six new coins...
