Tech

The Central Bank of Ireland has fined cryptocurrency exchange Coinbase €21.5 million for failing to properly monitor transactions, including activity potentially linked to child sexual exploitation, drug trafficking, money laundering and other crimes. 

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned eight individuals and two entities allegedly tied to laundering illicit proceeds from DPRK cybercrime and overseas IT work. 

Brazil’s central bank is changing how capital requirements are calculated for financial institutions following a recent spate of probes into organized crime groups exploiting the services offered at Fintech firms, Bloomberg reported. 

Eric and Donald Trump Jr. have turned a family-branded cryptocurrency venture into a cash machine that eclipses the Trump Organization’s traditional businesses, according to a Reuters investigation that traces opaque token purchases by overseas investors and a wave of U.S. policy shifts friendly to digital assets.

President Donald Trump has granted a pardon to Changpeng “CZ” Zhao, the founder of Binance, after months of behind-the-scenes efforts by Zhao and his allies to secure clemency.

A new legal filing alleges that a cryptocurrency promoted in January by U.S. First Lady Melania Trump was part of a sophisticated scheme that used celebrity association to lend legitimacy to token launches, according to Wired. 

Canada’s financial intelligence agency has fined Vancouver-based cryptocurrency exchange Cryptomus nearly C$177 million, saying the firm failed to report thousands of transactions that may have involved sanctions evasion and money laundering tied to fraud, ransomware and child sexual abuse material.

The UK’s Financial Conduct Authority (FCA) has filed a High Court lawsuit against crypto exchange HTX, alleging the platform unlawfully promoted cryptoasset services to consumers in breach of the country’s financial promotions regime, the Financial Times reported. 

U.S. regulators have granted preliminary and conditional approval for Erebor, a new national bank founded this year by technologists Palmer Luckey and Joe Lonsdale in a move pitched as filling the void left by Silicon Valley Bank’s 2023 collapse, the Financial Times reported. 

UK regulators are holding up Revolut’s full banking license amid concerns that the fintech firm’s risk controls are not scaling fast enough with its rapid overseas growth, the Financial Times reported.