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Friday, January 27, 2023
Volume:
39
Issue:
2
Abstract:
On January 18, 2023, the United States Department of Justice announced the arrest of the founder and majority owner of a cryptocurrency exchange Bitzlato Ltd. (Bitzlato) the prior night in Miami for his alleged operation of a money transmitting business that transported and transmitted illicit funds, including through darknet channels, that failed to meet U.S. regulatory requirements, including with respect to anti-money laundering.[1]
[1] U.S. Department of Justice, Founder and Majority Owner of Cryptocurrency Exchange Charged with Processing Over $700 Million of Illicit Funds, Press Rel. 23-51, Jan. 18, 2023.