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Category : Money Laundering

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Wells Fargo Fined $3 Billion for 15 Years of Illegal Practices Affecting Millions of Customers

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Wells Fargo, one of the largest U.S. financial services companies, has agreed to pay $3 billion to resolve the U.S. government’s investigations into fraudulent sales practices spanning over 15 years. The Wells Fargo fraud case...
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LocalBitcoins Quietly Suspends Accounts in Multiple Regions Without Notice

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Popular Bitcoin (BTC) exchange platform LocalBitcoins is allegedly suspending user accounts with little fanfare, citing an “enhanced due diligence process.” Finland-based LocalBitcoins, one of major global peer-to-peer (P2P) crypto exchanges, has reportedly suspended user accounts...
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Ukraine to Oversee Crypto Transactions Above $1,200, Sees Opportunities in Legalization Not Risks

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Cryptocurrency transactions in Ukraine will be strictly monitored by the state, although the country’s finance minister admits that it’s not digital coins but fiat cash that criminals and corrupt officials are more likely to use....
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Unnecessary Evil: How Government Regulations Kill Crypto Startups and Encourage Crime

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Thanks to the EU’s most recent money laundering directive, a small business called Post-a-coin, which sold cute postcards pre-loaded with tiny amounts of bitcoin, is being forced to shut down. Meanwhile, the most heinous criminals...
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Crypto Raises Questions on Self-Government

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The United States Deputy Treasury Secretary argued that decentralized privately-issued digital currencies can shift some functions from the state to the private sector. Deputy Secretary of the Treasury Justin Muzinich presented his view on the...