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.
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Brian Brooks (r) is leaving his gig as chief legal officer of Brian Armstrong's Coinbase to become a bank regulatorCoinbase 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.
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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.
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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.
