• Alexander Vinnik extradited France money laundering
    Bitcoin,  Cryptocurrencies

    France charges alleged BTC-e operator Alexander Vinnik with money laundering, extortion

    Vinnik has been on a hunger strike to protest his lengthy detention

    French officials filed preliminary charges of money laundering and extortion against Alexander Vinnik on Friday. The Russian national was extradited to France on Thursday after spending more than two years in pre-trial detention in Greece.

  • money laundering
    Cryptocurrencies,  Europe,  United States

    US sues BTC-e exchange owner Alexander Vinnik for $100 million

    The FinCEN lawsuit comes in addition to criminal charges alleging money laundering for drugs and cryptocurrency exchange hackers

    Alleging violations of the Bank Secrecy Act, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) filed a civil suit against BTC-e founder Alexander Vinnik on July 25, seeking to recover more than $88 million in customer funds from the exchange and $12 million in from Vinnik personally.

  • Treasury
    Cryptocurrencies,  United States

    Treasury talks tough on crypto exchanges

    FinCEN “will not tolerate” crypto’s noncompliance

    In a Thursday evening speech, one Treasury official made it clear that the department is serious about regulating cryptocurrency exchanges. “[O]ur regulations cover both transactions where the parties are exchanging fiat and convertible virtual currency, but also to transactions from one virtual currency to another virtual currency,” said Kenneth A. Blanco, director of the Treasury’s Financial Crimes Enforcement Network (FinCEN). He made the statement in a prepared speech at the 2018 Chicago-Kent Block (Legal) Tech Conference. This isn’t a new situation, of course. Blanco pointed out that FinCEN has held this view for five years, but his statements were meant to clarify their outlook. In other words, it was meant…