Search Results for: violations

SEC, DOJ Investigate FTX — Regulators Suspect Crypto Exchange Mishandles Customer Funds

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The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance…

Displaying US Dollar Prices Still Prohibited, Ghanaian Central Bank Tells Actress Lydia Forson

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The Bank of Ghana recently warned businesses quoting U.S. dollar prices that the practice is still prohibited and that the cedi remains Ghana’s sole legal tender. The bank said it is working with law enforcement to “clamp down on illegal foreign…

French Lawyer Asks Russian Patriarch to Help Save Alexander Vinnik From ‘Political Trial’ in US

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A member of the defense team of the alleged BTC-e operator Alexander Vinnik has called on the head of the Russian Orthodox Church to intervene in support of his client. The Russian national may be sentenced to over 50 years in…

US Charges Russians, Venezuelans for Sanctions Evasion Using Cryptocurrency

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A group of Russian and Venezuelan nationals have been charged by U.S. authorities for their roles in a scheme to circumvent Western sanctions and launder money on a global scale. They have been accused of obtaining military technologies from American companies,…

Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance Claims

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Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims. The…

Ghana Central Bank Reiterates Warning Against Practice of Pricing Goods in Forex

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The Bank of Ghana has warned businesses and the public against the practice of demanding or making payments in foreign currency without its authorization. The central bank’s warning comes just over a month after Ghana’s currency was rated the worst performing…

Amid the Hottest US Inflation in 40 Years, Biden Administration Blames Rising Prices on Shipping Industry

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During the last few months, inflation has risen significantly in the United States as it has climbed at its fastest pace since 1982. Data shows younger families with children have been struggling to make ends meet, while reports further indicate retirees…

Crypto Exchange Bitmex’s Founders Plead Guilty to Bank Secrecy Act Violations

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The founders of cryptocurrency derivatives exchange Bitmex, Arthur Hayes and Benjamin Delo, have pled guilty to violations of the U.S. Bank Secrecy Act. “As a result of its willful failure to implement AML and KYC programs, Bitmex was in effect a…

Cryptsy CEO Indicted for Defrauding Crypto Investors, Destroying Evidence

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The CEO of cryptocurrency exchange Cryptsy has been indicted in the U.S. The 17-count indictment charges the crypto exchange executive with “tax evasion, wire fraud, money laundering, computer fraud, tampering with records, documents, and other objects, and destruction of records in…

IRS Expects to Seize Billions of Dollars in Cryptocurrency Next Year — More Than $3.5 Billion in Crypto Seized This Year

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The Internal Revenue Service (IRS) has revealed that $3.5 billion in crypto was seized during the fiscal year 2021. This represents 93% of all funds seized by its criminal investigation unit during the same time period. The agency expects to seize…