FinCEN | FinTelegram News

Category: FinCEN

December 6, 2023

New Binance CEO Welcomes FinCEN Monitoring As It Would Increase User Confidence!

Richard Teng, the new CEO of Binance, has expressed a positive view on the financial oversight by U.S. authorities, seeing it as a trust-building measure for investors. Teng emphasizes Binance's commitment to regulatory compliance. The company recently agreed to a $4.3 billion settlement with US authorities over criminal and civil charges, including a FinCEN compliance monitoring period of up to five years.

November 22, 2023

OK, That’s Binance! What About MEXC And Crypto Payment Processors?

The crypto industry is struggling to find its place. This is currently most evident at Binance, which has just had to pay $4.3 billion to drop charges and lawsuits in the US. Binance CEO Changpeng Zhao had to resign and is to go to prison, say the prosecutors. In Europe, MEXC, a crypto exchange from Asia, is currently in the crosshairs of regulators, as are its partners such as MoonPay, Simplex, and Banxa. MEXC lost its Estonian license last week.

January 20, 2023

United States And French Law Enforcement Actions Against Russian Crypto Exchange Bitzlato!

While the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order that identifies the virtual currency exchange Bitzlato Limited d/b/a Bitzlato..

September 7, 2021

Introducing crypto payment processor Global DLT Exchange with Jubiter and Coindeck

Coindeck is a new high-risk crypto payment processor brand operated by Slovakia-based Global DLT Exchange S.R.O., which also operates Jubiter. The latter was the trade name of Estonian Jubiter Technologies OÜ, which was licensed until February 2021. After many scam involvements, the company lost or renounced its license. Jubiter was transferred to Global DLT Exchange S.R.O. but continued to surface as a scam facilitator. Frequently together with BridgerPay. Most recently, we also found both in the GoldBachInvest scam.

August 11, 2021

U.S. court orders crypto broker BitMex to pay a $100M penalty to CFTC and FinCEN

The U.S. CFTC and FinCEN announced that the U.S. District Court for the Southern District of New York entered a consent order against five companies charged with operating the BitMEX cryptocurrency derivatives trading platform. The companies are HDR Global Trading Limited, 100x Holding Limited, ABS Global Trading Limited, Shine Effort Inc Limited, and HDR Global Services (Bermuda) Limited. BitMEX has received more than $11 billion in bitcoin deposits and made more than $1 billion in fees.

June 20, 2021

Trade Com Racket – More scam-facilitating crypto payment processors exposed

The crypto exchange Crypto4x (www.crypto4x.net) is a clone of the crypto exchange Tradient (www.tradient.net). There are more of these Tradient clones, such as Qxtrade (www.qxtrade.co) or CrypTek (www.cryptek.fr). According to information from our whistleblowers, these are payment processors in the Trade Com Racket, just like the Latvian Paybis (www.paybis.com), a FinCEN-registered money service business. The Trade Com Racket operates a huge network of broker scams.

July 22, 2020

Wirecard – Braun and 3 others arrested; Phony merchants, a porn baron, marijuana, and transaction laundering

In March 2020, the German payment expert Ruben Weigand and the so-called "porn baron" Hamid “Ray” Akhavan have been arrested in California on charges of running a global money-laundering scheme. The center of this scheme is one of the largest on-demand marijuana marketplaces in the US, Eaze Technologies Inc. Both pleaded not guilty but remained in custody at a jail in California. Both have already been involved in the mega-money-laundering scheme of FBME Bank. And yes, there is a rather close connection to Wirecard. Consequently, Markus Braun war arrested again today.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.