US Office of Financial Crimes Control Sanctions Various Cryptocurrency Mixing Services
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.
References:
- 19/10/2020 fincen.gov First Bitcoin “Mixer” Penalized by FinCEN for Violating Anti-Money Laundering Laws
- 19/10/2020 bleepingcomputer.com US Treasury hits bitcoin mixer with $60 million penalty
- 19/10/2020 cointelegrah.com El regulador financiero de EEUU multa a uno de los primeros mezcladores de Bitcoin con USD 60 millones por lavado de dinero
- 20/10/2020 beincrypto.com Fundador de una empresa de mixing de Bitcoin es multado $60 millones por FinCen