Crypto Lawyer: Binance hack reveals imminent system-wide Bitcoin failure

  Diego Garcia, British Indian Ocean Territory (BIOT): “White Hat” crypto lawyer Dr. Jonathan Levy predicts the recent Binance exchange disruption is a symptom of a larger imminent system-wide failure in the integrity of the Bitcoin blockchain.     According to Dr. Levy, the situation is critical because crypto exchanges have for years been routinely accepting deposits from professional crypto laundering outfits like Bitblender.io while providing no relief to the victims of crypto hacks, extortion, and ransomware. According to Dr. Levy: “The Bitcoin blockchain is being misused by cybercriminals to…

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Briton in Amsterdam Allegedly Laundered €11.5m in Bitcoin Drug Money

A UK man living in Amsterdam started by growing cannabis but are now facing up to five years in prison for allegedly helping people by exchanging fiat cash for bitcoin which was used to buy drugs.     According to the  Dutch Public Prosecutor then man allegedly laundered about €11.5 million in bitcoin between 2014 and 2016. This money is suspected as originating from illegal drugs deals and the trade of other prohibited goods on dark web marketplaces.     According to the allegations, the accused profited by taking bitcoins…

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Bank of America says Bitcoin is a business risk and competitive threat

According to public records, Bank of America has cited cryptocurrency as a material risk to its business and that the technology could hamper the second-largest U.S. bank’s ability to comply with anti-money-laundering regulations, pose a competitive threat and increase cost. This was according to the bank’s annual filing with the Securities and Exchange Commission.     Bank of America specifically mentioned “Cryptocurrency” in the section on risk factors.   The first reference is in the discussion of AML, know-your-customer, sanctions and foreign corruption laws in the U.S.   “Emerging technologies,…

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Fintech Innovator Humaniq and Regtech Leader Coinfirm Partner to Bring Financial Transparency and Inclusion to Developing Economies With Blockchain

LONDON, November 29, 2017 /PRNewswire/ Humaniq and Coinfirm have partnered to build a more advanced and secure digital experience for users of Humaniq applications featuring cutting-edge anti-money-laundering (AML) solutions. Humaniq and Coinfirm both provide complete solutions for the world’s unbanked and enable financial inclusion for emerging economies through joint initiatives globally.   Coinfirm, a recognized Blockchain regtech leader known for its AML/CTF Platform, will integrate its platform across the Humaniq ecosystem to provide a new level of transparency and security. Humaniq will benefit from enhanced security, protecting transactions made in…

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