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US Office of Financial Crimes Control Sanctions Various Cryptocurrency Mixing Services

10/19/2020

The Office of Financial Crimes Control, of the United States Department of the Treasury (FinCEN), has sanctioned the cryptocurrency mixing services, Helix and Coin Ninja, owned by Larry Dean Harmon, for violating the Bank Secrecy Act and its regulations of implementation.

Harmon did not operate as a registered money services company, nor did it implement a program to prevent money laundering and report fraudulent activity. Now, he must pay a fine of up to 60 million dollars, after having laundered more than 311 million dollars.