The Department of the Treasury Financial Crimes Enforcement Network (FinCEN) has issued a notice of proposed rulemaking (NPRM) regarding transactions involving convertible virtual currency (CVC) mixing.
On October 17, 2023, Binance blocked 100 accounts linked to Hamas, the terrorist group that launched a surprise attack on Israel. This action comes on the heels of blocking 190 accounts also linked to Hamas just one week earlier. These actions rightfully drew concern from the media and public: To what extent are terrorist groups in general and Hamas in particular transacting with cryptocurrency?
On July 31st, OFAC (The Office of Foreign Asset Control) took decisive action against individuals and entities linked to terrorist organizations Al-Qaeda, ISIS, and ISIS-Khorasan (ISIS-K) in the Maldives. Among those sanctioned is Ali Shafiu, a Maldivian national actively involved in the activities of ISIS-K.
As we settle into the new year, 2022 will likely be remembered by web3 and technology enthusiasts as the crypto ecosystem’s first major downturn. Throughout the year, crypto hacks led to over $3.7 billion in losses and the downfall of huge names such as Luna, Celsius, and FTX spread ripples across the industry - even causing the price of Bitcoin to drop below $16,000 for the first time in years. In the final month of 2022, Certik reported that the total amount of hacks, exploits, and scams recorded in December was the lowest of the year, totaling around $62.2 million.
