• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

EU Sets Sights on Active Role in Virtual World Creation

2023-11-29

Samsung Smart Glasses Set to Rival Apple in the XR Martket

2023-11-26

The Metaverse: A New Route for Porsche?

2023-11-24
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    EU Sets Sights on Active Role in Virtual World Creation

    2023-11-29

    Samsung Smart Glasses Set to Rival Apple in the XR Martket

    2023-11-26

    The Metaverse: A New Route for Porsche?

    2023-11-24

    Experience ‘Rebirth’ at the 2023 Decentraland Music Festival

    2023-11-16

    ZEP-Near Partnership: Boosting Metaverse Platform Development

    2023-11-13
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Ripple files motion to block SEC appeal attempt

    2023-09-04

    JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

    2023-09-03

    Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

    2023-09-03

    U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

    2023-09-02

    Navigating the significance of legal opinions in the crypto sphere

    2023-09-02
  • Learn

    Is Bitcoin Halal? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-11-17

    Ordinals (ORDI) Price Prediction – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-11-17

    Best GPUs for Mining Crypto in 2023. Overview of The Top Graphics Cards

    2023-11-17

    A Detailed Exploration – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-11-07

    Market capitalization overview and explanation of its main factors

    2023-10-31
  • Market Cap
CryptoNewsMetaverse
Home»Regulation»FinCEN lists Binance among the top Bitcoin counterparties of Bitzlato
Regulation

FinCEN lists Binance among the top Bitcoin counterparties of Bitzlato

2023-01-19No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The United States Financial Crimes Enforcement Network (FinCEN) — a bureau of the Treasury Department — has argued that Binance is linked to the illegal cryptocurrency platform Bitzlato.

In an order published on Jan. 18, FinCEN stated that the Binance cryptocurrency exchange was among the “top three receiving counterparties” of Bitzlato in terms of Bitcoin (BTC) transactions.

According to the authority, Binance was among the biggest counterparties that received Bitcoin from Bitzlato between May 2018 and September 2022. Other counterparties included Russia-connected darknet market Hydra and the alleged Russia-based Ponzi scheme known as “Finiko,” FinCEN noted.

On the other hand, FinCEN did not mention Binance as the top three sending counterparties in the order. According to the document, the biggest Bitcoin senders to Bitzlato between May 2018 and September 2022 were Hydra, Finland-based exchange LocalBitcoins and Finiko.

“Approximately two-thirds of Bitzlato’s top receiving and sending counterparties are associated with darknet markets or scams,” FinCEN wrote in the order. The agency noted that between 2019 and 2021, Bitzlato received crypto worth $206 million from darknet markets, $224 million from scams, and $9 million from ransomware attackers.

The news comes amid multiple U.S. authorities initiating major enforcement action against Bitzlato, accusing the firm of money laundering and allegedly facilitating circumvention of sanctions against Russia. As part of the case against Bitzlato, the Federal Bureau of Investigation arrested Bitzlato founder Anatoly Legkodymov on Jan. 17 in Miami.

Unlike major crypto exchanges like Binance or Coinbase, Bitzlato was a little-known cryptocurrency service. Founded in 2016, the platform reportedly has an office in the Federation Tower skyscraper in Moscow, where it accepted transactions of $100,000 or more.

The alleged involvement of Binance in Bitzlato’s case raises some concerns about the exchange’s operations and potential ties with Russia. As previously reported, Binance was among exchanges that opted to continue to serve non-sanctioned Russians after the European Union adopted the eighth sanctions package against the country.

Related: Binance registers as virtual asset service provider in Poland

Addressing Cointelegraph’s request for comment regarding FinCEN’s reference to Binance in Bitzlato’s case, a spokesperson for Binance said that the firm has been collaborating with regulators, stating:

“Binance is pleased to have provided substantial assistance to international law enforcement partners in support of this investigation. This exemplifies Binance’s commitment to working collaboratively with law enforcement partners worldwide.“

FinCEN did not immediately respond to Cointelegraph’s request for comment.

Source link

among Binance Bitcoin Bitzlato counterparties FinCEN Lists Top
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Is Bitcoin Halal? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

2023-11-17

Best GPUs for Mining Crypto in 2023. Overview of The Top Graphics Cards

2023-11-17

What Is Bitcoin Halving? An Overview and History of BTC Halvings

2023-10-20

What is NBA Top Shot? A Beginner’s Guide

2023-09-22
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Will Bitcoin See A Repeat Of November 2018

2022-10-21

Are Arbitrum+Optimism stats pointing at beginning of L2 season

2022-08-31

Why Ethereum May Retest The $2,500 Support Level

2022-03-07

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

EU Sets Sights on Active Role in Virtual World Creation

2023-11-29

Samsung Smart Glasses Set to Rival Apple in the XR Martket

2023-11-26

The Metaverse: A New Route for Porsche?

2023-11-24
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$33,871.002.60%
  • ethereumEthereum(ETH)$1,782.861.16%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.01%
  • binancecoinBNB(BNB)$225.48-1.17%
  • rippleXRP(XRP)$0.562.46%
  • usd-coinUSDC(USDC)$1.00-0.08%
  • Lido Staked EtherLido Staked Ether(STETH)$1,777.130.83%
  • SolanaSolana(SOL)$30.17-5.84%
  • cardanoCardano(ADA)$0.278897-0.24%