Bank Secrecy Act Archives

Binance lawsuit targets exchange as ‘get-away driver’ for bad actors

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22 August, 2024

Binance lawsuit targets exchange as ‘get-away driver’ for bad actors

Binance has been hit with various complaints and settlements in different jurisdictions, with a civil lawsuit filed at the U.S....

‘Crypto’-friendly Customers Bank hit with Fed Reserve enforcement action

Business

Steven Stradbrooke

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9 August, 2024

‘Crypto’-friendly Customers Bank hit with Fed Reserve enforcement action

The Fed Board hit Customers Bank with an enforcement action after results of inspections carried out by the central banking...

SEC, California, Federal Reserve beat Silvergate Bank’s dead horse

Business

Steven Stradbrooke

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3 July, 2024

SEC, California, Federal Reserve beat Silvergate Bank’s dead horse

The U.S. securities regulator announced that it had filed charges against Silvergate Capital Corporation, which operated the California-based 'crypto-friendly' Silvergate...

Binance’s Changpeng Zhao makes mockery of justice with four-month sentence

Business

Steven Stradbrooke

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1 May, 2024

Binance’s Changpeng Zhao makes mockery of justice with four-month sentence

Last November, CZ and Binance reached a $4.3 billion settlement with the DoJ based on the exchange’s blatant violations of...

Binance, Changpeng Zhao reach $4.3 billion settlements with US authorities

Business

Steven Stradbrooke

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22 November, 2023

Binance, Changpeng Zhao reach $4.3 billion settlements with US authorities

Binance attempts to stay afloat with the appointment of its new CEO after CZ stepped down following a guilty plea...

Business

Jordan Atkins

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9 June, 2023

Binance.US suspends USD deposits as senators call for DoJ investigation

Two prominent U.S. senators are calling for the Justice Department to investigate Binance over false statements the company made to...

CFTC sues decentralized autonomous organization and its token holders

Business

Steve Kaaru

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27 September, 2022

CFTC sues decentralized autonomous organization and its token holders

The U.S. regulator settled with bZx founders for $250,000 for illegal margined and leveraged commodity transactions, while also suing the...

US authorities sought Binance internal docs on money laundering

Business

Steven Stradbrooke

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5 September, 2022

US authorities sought Binance internal docs on money laundering

An ongoing U.S. Department of Justice probe into whether Binance violated the Bank Secrecy Act sought internal records to determine...

BitMEX co-founder Ben Delo avoids jail time, gets 30 months of probation

Business

Steve Kaaru

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17 June, 2022

BitMEX co-founder Ben Delo avoids jail time, gets 30 months of probation

Benjamin Delo pleaded guilty to violating the Bank Secrecy Act alongside Hayes and Reed, but despite prosecutors pushing for a...

BitMEX founders ordered to pay $30M fine as ex-CEO Arthur Hayes seeks probation

Business

Steve Kaaru

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9 May, 2022

BitMEX founders ordered to pay $30M fine as ex-CEO Arthur Hayes seeks probation

A New York federal court has ordered the co-founders of BitMEX exchange to pay $30 million in civil monetary penalty...

OCC: Flagship digital currency bank Anchorage Digital failed in its AML requirements

Business

Steve Kaaru

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26 April, 2022

OCC: Flagship digital currency bank Anchorage Digital failed in its AML requirements

The OCC states that the bank failed to meet Bank Secrecy Act requirements and ordered it to appoint a compliance...

BitMEX exec Samuel Reed pleads guilty to Bank Secrecy Act violations, faces 5 years in jail

Business

Steve Kaaru

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15 March, 2022

BitMEX exec Samuel Reed pleads guilty to Bank Secrecy Act violations, faces 5 years in jail

Samuel Reed, along with Arthur Hayes, Benjamin Delo, and Greg Dwyer, are accused of knowingly operating a BTC trading platform...

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