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CFTC, DOJ Charge BitMEX Owners with Illegal Operations and Anti-Money Laundering Violations 

On October 1, the US Department of Justice announced the indictment of four BitMEX executives, charging the group with violating the Bank Secrecy Act (BSA), and conspiring to violate the BSA by "willfully failing to establish, implement, and maintain an adequate anti-money laundering (“AML”) program." On the…

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How Impending Virtual Asset Regulations Impact Banks—Even Those That Don’t Think They Do Crypto

As more mainstream consumer and institutional investors embrace cryptocurrencies, it becomes increasingly difficult, if not impossible, for traditional financial institutions to avoid entanglements with the crypto economy. For example, banks face significant counter-party transaction risks from customers interacting with high-risk…

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Analysis: How Chinese Nationals Linked to North Korea Laundered Hundreds of Millions of Dollars’ Worth of Stolen Cryptocurrency Through Several Banks and Cryptocurrency Exchanges

CipherTrace has previously reported on North Korea using cybercrime to avert economic sanctions and raise hard cash to fund its weapons of mass destruction (WMD) development. For example, in August 2017, we revealed details of a then unreleased UN research…

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