Bitcoin mixer fined by FinCEN, Third lawsuit filed against BitMEX and regulation report from Coinbase

Photo by Aleksi Räisä on Unsplash

FinCEN fines Bitcoin mixer operator $60 million

And now, the The Financial Crimes Enforcement Network (FinCEN) has levied its first-ever financial penalty against a Bitcoin mixer.

The US Treasury Department’s bureau focuses on money laundering and national security. They fined Larry Dean Harmon, the creator and operator of Helix and Coin Ninja, with a $60 million civil money penalty.

Harmon is already facing criminal money laundering charges by allegedly helping obscure the source of over $300 million in Bitcoin for AlphaBay darknet patrons from 2014 to 2017.

Source: Decrypt

Third lawsuit filed against BitMex

The lawsuit alleged that HDR Global Trading Limited violated the Know Your Customer (KYC) and anti-money laundering (AML) policies, which caused hackers and tax evaders to use the exchange.

Dmitry Dolgov alleges that this parent company of BitMEX, the exchange’s founders Arthur Hayes, Ben Delo, and Samuel Reed, and others, engaged in and facilitated racketeering activities.

Further, the lawsuit claimed that BitMEX’s “own data” indicated that the exchange “generated over $30,000,000 in profit during three market manipulation events” between 2019 and 2020.

Coinbase shares Report about Requests Customer Information

According to the report, Coinbase received 1,914 requests for information in the first 6 months of 2020 alone. Nearly 60% of those came from state and federal agencies in the U.S., primarily from the FBI, Homeland Security and the DEA.

Dozens of requests, however, came from other agencies, including the U.S. Postal Inspection Service and the immigration enforcement agency, ICE:

Source: Coinbase

Cashcow Awards 2020

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Please click here to vote for Crypto2Cash as the best Crypto Broker!

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