• Finland hotspot illegal Bitcoin
    Bitcoin,  Europe,  United States

    CipherTrace: Finland a hotspot for illegal Bitcoin

    The tranquil Scandinavian nation is home to the Northern Lights, but down on the ground it’s also a haven for darknet scammers attempting to cash out; CipherTrace report finds $1.4 billion lost this year, criminals getting savvy to anti-money laundering

    CipherTrace says 12.1% of Bitcoin funds sent to Finnish exchanges come directly from criminal sources. As a percentage, that’s the highest worldwide, making Finland a hotspot for illegal Bitcoin. LocalBitcoins, a peer-to-peer crypto marketplace, is partly to blame. It is based in the Finnish capital of Helsinki, and received 99% of these ill-gotten funds, according to a report.

  • Coinbase Brian Armstrong Brian Brooks
    People,  Regulation,  United States

    Coinbase loses chief legal officer to U.S. Treasury

    Brian Brooks is leaving the cryptocurrency exchange to become COO of the Office of the Comptroller of the Currency, which regulates and oversees banks in the U.S.

    Coinbase Chief Legal Officer Brian Brooks has been appointed chief operating officer of the Office of the Comptroller of the Currency, the Treasury Department announced on March 16. Brooks will also serve as first deputy comptroller of the OCC, which charters, regulates, and supervises banks and savings associations in the United States.

  • Someone landed on "Go to jail" (via Pixabay).
    Regulation,  United States

    When is bitcoin mixing a crime?

    Hint: when it’s directly linked to laundering illicit proceeds on darknet markets

    Bitcoin mixers, or tumblers, have been around for years. The way they work is you send bitcoin to a service and the service scrambles your bitcoin with other bitcoins, so that in the end, it’s difficult to know the source of the funds—even though the transactions are visible on the blockchain. 

  • Capitol Building on Capitol Hill in Washington DC
    Regulation,  United States

    Blockchain Association, Chamber of Digital Commerce support Telegram

    The two advocacy groups submitted amicus briefs to the court. One opposes the SEC’s lawsuit; the other asks the agency to do a better job defining digital assets

    The Blockchain Association and the Chamber of Digital Commerce, two Washington, D.C. based-advocacy groups focused on blockchain and digital assets, filed amicus briefs Tuesday in the U.S. Securities and Exchange Commission's case against messaging app Telegram.