Crypto Cast As The Villain, But Banks Quietly Move Billions In Suspect Funds
FinCEN on Thursday put banks and other financial firms on notice about a sprawling set of Chinese crypto and money laundering networks, saying they play a major role in moving illicit funds tied to Mexico-based drug cartels and other crimes. Related Reading: Insider Trading Suspicions Mount As Crypto Treasuries Balloon – Report According to the […]
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Global investment bank JPMorgan is now offering six cryptocurrency investment funds to clients despite its CEO, Jamie Dimon, continually advising against investing in bitcoin and other cryptocurrencies. JPMorgan Chase has quietly begun giving its wealth management clients access to six cryptocurrency investment funds, CNBC reported Thursday, citing people with knowledge of the move. On Thursday, the bank’s financial advisors were allowed to begin placing private bank clients into a new bitcoin fund created by crypto firm New York Digital Investment Group (NYDIG), a subsidiary of....
Since the 2008 financial crisis, twenty of the world's largest banks including JPMorgan, Citibank and HSBC have paid over US$235 billion in fines. Interestingly, the majority of the fines derived from the banking system's inefficiency and failure to keep track of sold mortgages and insurance products. According to the financial data provided by news agency Reuters, fines for U. S. mortgages have accounted for nearly US$150 billion, with America's biggest banks including Bank of America, JPMorgan and Citigroup being fined for billions of dollars due to their non-fulfilment in maintaining a....
Retirement managers in 14 US states have quietly added 632 million in Strategy stock to their portfolios. That bet comes as a way to tap into Bitcoin’s gains without buying the coin itself. It’s a move that has gathered steam over just one quarter. Related Reading: Bitcoin Bandits Busted: DOJ Charges 12 In $263 Million Cyber […]
According to a document produced by a Pakistani policy advisory board, the country is likely to earn billions of dollars from crypto-asset holders. Yet for this to happen, the country first needs to create the appropriate regulatory framework for crypto assets. Cryptocurrencies Could Boost Reserves Pakistan may potentially raise billions of dollars from crypto assets held by its nationals or by residents with dual citizenship, a policy document produced by the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has said. According to a report in The Business Recorder, the....
The Internal Revenue Service (IRS) has revealed that $3.5 billion in crypto was seized during the fiscal year 2021. This represents 93% of all funds seized by its criminal investigation unit during the same time period. The agency expects to seize billions of dollars more in cryptocurrency next year.
IRS Says It Could Seize Even More Than $3.5 Billion in Cryptocurrency Next Year
The Internal Revenue Service’s Criminal Investigation (CI) unit, the tas authority’s law enforcement branch, released the 2021 Criminal Investigation Annual Report Thursday. IRS....