Binance was named one of Bitzrat’s top three receiving counterparties, according to the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) mandate.
On January 18th, US authorities took action against a little-known exchange for facilitating the laundering of $700 million. The exchange’s Russian founder Anatoly Legkodimov was arrested in Miami.
About two-thirds of Bitzlato’s top recipients and senders were involved in darknet markets or scams. order report. Apart from Binance, the official noted that Bitzrat’s other top receiving counterparties included Russia’s Darknet Hydra and the Ponzi scheme ‘TheFiniko’.
Meanwhile, a Binance spokesperson said: crypto slate:
“Binance is pleased to have provided substantive assistance to our international law enforcement partners in support of this investigation. It demonstrates Binance’s commitment.”
FinCEN said its order prohibits all covered financial institutions from sending funds related to Bitzlato.
The exchange was determined to be a “major money laundering concern related to illicit financing in Russia,” officials added.
The order will go into effect on February 1st.
Posts nominated by Binance among Bitzlato’s top three recipients first appeared on CryptoSlate.