Swan Bitcoin to terminate customer accounts that use crypto-mixing services
Bitcoin service platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks. Customers were informed about the policy in a letter suggesting the changes are made du ...
Ethics watchdog rats out Circle for links to Tron in letter to Sens. Warren, Brown
Nonprofit ethics group Campaign for Accountability (CfA) sent a letter to U.S. Senators Elizabeth Warren and Sherrod Brown on Nov. 9 to present them with information on the alleged use of cryptocurrency in money laundering. The letter discussed the Tron blockchain and stablecoin issuer Circle in ...
FinCEN issues alert regarding crypto transactions connected to Hamas
The United States Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, issued an alert for financial institutions as part of efforts to identify “suspicious activity” related to funding terrorist groups.In an Oct. 20 notice, FinCEN said the terrorist org ...
Bipartisan bill to regulate DeFi, crypto security risks introduced into US Senate
United States Sen. Jack Reed sponsored a bipartisan bill introduced into the Senate on July 18 that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). According to a news release on Reed’s website, ...
Bittrex withdrawals set to resume after bankruptcy court gives green light
Cryptocurrency trading platform Bittrex is expected to resume customer withdrawals on June 15 following an order from a judge in the United States Bankruptcy Court for the District of Delaware. The decision does not settle the question of the subordination of U.S. government claims, which had led ...
US DOJ opposes bankrupt Bittrex’s plan to repay customers ahead of credited fines
The United States Justice Department (DOJ) has filed an objection to a motion by bankrupt cryptocurrency trading platform Bittrex to allow customers to withdraw their crypto and fiat. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) is Bittrex’s biggest creditor, but its cl ...
Bittrex Terminates Work with US Clients Due to Regulatory Environment and Economic Situation
Bittrex, a well-known cryptocurrency exchange, has recently announced that it will be terminating its services to clients in the United States. The exchange cited the "difficult regulatory environment and economic situation" in the country as the primary reason for this decision. According to ...