U.S. FSC to discuss illicit activity in crypto at upcoming hearing
The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the illicit activity in digital assets,’ will feature prominent ...
Wall Street Journal corrects article misciting Hamas’ crypto terrorism funding data
The Wall Street Journal (WSJ) has partially corrected an article which mischaracterized the extent to which Hamas and other militant groups have been funding its terrorism activities with cryptocurrencies.The Oct. 10 article — titled “Hamas Militants Behind Israel Attack Raised ...
Tether freezes $873,000 USDT linked to terrorist activity in Ukraine, Israel
Stablecoin issuer Tether has moved to freeze 32 addresses linked to terrorist activity in Israel and Ukraine in collaboration with local law enforcement agencies.$873,118 worth of USDT linked to illicit activity in Israel and Ukraine have been frozen, according to announcement from the com ...
UK’s Travel Rule comes into effect, could halt certain crypto transfers
Cryptoasset businesses in the United Kingdom could now begin withholding certain crypto transfers to comply with the new Travel Rule for crypto that came into effect on Sept. 1.The rules targeting virtual asset service providers were first introduced by the Financial Conduct Authority ...
Crypto Travel Rule implementation ‘remains relatively poor,’ says FATF
A renewed call from the Financial Action Task Force has asked countries to implement the “Travel Rule” to combat money laundering and terrorism financing activities enabled by cryptocurrencies.On June 23, the United Nations body — whose role is to promote strategies to co ...
Qatar gets slammed for not taking enough action against crypto companies
The global watchdog fighting money laundering and terrorist financing has slammed Qatar Central Bank (QCB) for making little effort to enforce its own regulations prohibiting virtual asset service providers. In a report published on May 31, the Financial Action Task Force (FATF) highlighted that ...