Call us now:
Crypto is having a difficult time. Kraken and Binance faced a tough day yesterday. The SEC is moving forward and suing Kraken with Securities violations (enclosed article).
In parallel Binance was charged with violating the bank secrecy act, not registering as a money transmitter and breaking sanction laws undermining its own sanctions monitoring controls controls, failing to report suspicious transactions, Binance allowed illicit actors to transact more than 100,000 suspicious transactions (Janet Yellen – https://lnkd.in/eipYpR_h). The CEO pleaded guilty to Federal money laundering.
What next for crypto. Big growth in a short period of time, no regulation, now money laundering. The reality of regulatory compliance is starting to be felt, in this instance by the DoJ and CFTC.
Ted Dziekanowski Brian D. McCarthy
#crypto #cryptocurrency
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