The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed new regulations that could restrict crypto mixers, citing them as a “class of transactions of primary money laundering concern.” The agency believes that actors such as Hamas, ISIS, and the DPRK frequently abuse coin mixers for illicit activities. The lack of transparency in crypto mixing […]
Recent estimates of crypto funding for terrorist organizations like Hamas and the Palestinian Islamic Jihad (PIJ) may have been exaggerated, according to blockchain analysis firm Chainalysis. In a blog post, the company argues that some analyses have mistakenly attributed all transactions sent to crypto service providers as terror financing. Chainalysis estimates that the actual amount […]
In a recent blog post, Coinbase, the largest US-based crypto exchange, has expressed its concern about the flourishing of cryptocurrencies in offshore jurisdictions. The company argues that allowing digital assets to thrive in areas not subject to US laws will only facilitate illicit activities by bad actors. Coinbase emphasizes its commitment to compliance and its […]
The United States Treasury Department is reportedly planning to expand its sanctions to designate cryptocurrency mixers as money-laundering hubs following Hamas’s attack on Israel. Deputy Treasury Secretary Wally Adeyemo stated that this move is aimed at combating digital assets being exploited by state-affiliated cyber actors, cyber criminals, and terrorist groups. The concerns surrounding terrorist organizations […]
The mBridge project, a platform developed by central banks for cross-border payments, is transitioning to a new Chinese blockchain consensus protocol. This move is expected to attract millions of users and position mBridge as a direct competitor to SWIFT, the messaging network used by banks and financial institutions for secure information exchange. The success of […]
Crypto Aid Israel, an emergency relief fund created to support Israeli victims of Hamas terrorism, has received over $185,000 in donations despite suffering a phishing attack. The initiative has distributed 200,000 NIS, around $49,000, to various organizations spearheading the relief efforts in the region. Beneficiaries of the donations include the Foundation for Advancing Citizens of […]
United States-based crypto advocacy organizations are criticizing Senator Elizabeth Warren and other lawmakers for their claims about the connection between terrorist group Hamas and cryptocurrency financing. Warren and over 100 lawmakers signed a letter calling for action to curb illicit crypto activity used to fund Hamas and the Palestinian Islamic Jihad. In an op-ed, Warren […]
Standard Chartered, a multinational bank, is set to offer custody services for Bitcoin and Ethereum to its institutional clients in Dubai starting in Q1 2024. This move signifies the bank’s embrace of digital assets and is supported by the favorable crypto regulations in the United Arab Emirates (UAE). Standard Chartered has a strong presence in […]
Ras Al Khaimah, one of the Emirates in the UAE, has launched the RAK Digital Assets Oasis (RAK DAO), a free zone dedicated to digital and virtual asset companies. This initiative aims to attract global crypto players and position the emirate as a forward-thinking hub for emerging technologies. RAK DAO will be the world’s first […]
Ras Al Khaimah ruler Sheikh Saud bin Saqr Al Qasimi has inaugurated the RAK Digital Assets Oasis (RAK DAO), an economic free zone aimed at supporting companies involved in digital assets, blockchain, Web3, and artificial intelligence (AI). The free zone will cater to service providers in emerging technologies such as the metaverse, blockchain, utility tokens, […]
