The U.S. Treasury Department announced that it has shut down a North Korean digital asset money laundering network

PANews reported on December 18 that according to CoinDesk, the U.S. Treasury Department announced that it had shut down a North Korean cryptocurrency money laundering network that converted cryptocurrency into cash for North Korea's use through a UAE-based front company, Green Alpine Trading, LLC. The United States has added the company and two Chinese citizens who have participated in the network since 2022 to the sanctions list. The Treasury Department pointed out that North Korea has been raising funds through crypto crimes to support its nuclear weapons program, and the UAE has cooperated with the United States in the operation, but did not disclose the current status of the two sanctioned Chinese citizens.

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US Department of Justice: French Citizen Sentenced to Eight Years in Prison for Laundering Over $470 Million Through Shell Companies and Crypto Accounts. This headline is good, concise and clear. Here is the full news brief using this headline: According to a statement from the US Department of Justice, a French citizen has been sentenced to eight years in prison for laundering over $470 million through shell companies and crypto accounts. Maximilien de Hoop Cartier, a French citizen of Argentine descent, operated an unlicensed over-the-counter cryptocurrency exchange since 2018, controlling a large network of US shell companies. He falsely claimed to banks that his business was software publishing and development, while actually converting cryptocurrency into hard currency and transferring it through the US to criminal organizations in countries such as Colombia. Cartier admitted to operating an unlicensed money transfer business and admitted to misrepresenting the nature of his business to banks. After his accounts were seized in 2021, Cartier provided federal agents with falsified records, falsely claiming he was applying for a money transfer license, resulting in the return of some of the seized funds. Cartier was also ordered to forfeit approximately $2.36 million in commissions and related shell company accounts. Recommended Title: (Translated from the original title) US Department of Justice: French citizen sentenced to eight years in prison for laundering over $470 million through shell companies and crypto accounts.
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