Stablecoin Laundering Network Lands Colombian Crypto Broker in Prison
A Colombian cryptocurrency broker known as “Rey” has been sentenced to 160 months in federal prison for helping launder $14.5 million in drug proceeds using Tether’s USDT and participating in a cocaine importation conspiracy. The operation connected Colombian drug traffickers, an unlicensed American crypto exchange, and a web of shell companies. Prosecutors also secured a […]
Key Takeaways
- A Colombian cryptocurrency broker known as “Rey” has been sentenced to 160 months in federal prison for helping launder $14.5 million in drug proceeds using Tether’s USDT and participating in a cocaine importation conspiracy.
- The operation connected Colombian drug traffickers, an unlicensed American crypto exchange, and a web of shell companies.
- Prosecutors also secured a […]
Summary generated by IndiCrypto from News.Bitcoin.com. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Regulation
American Bankers Association: OCC’s GENIUS rules ‘undermine’ US Congress
Banking advocacy organizations are pushing back against the OCC’s finalized rules on a stablecoin law, arguing against changes to provisions on yield.
Crypto Exchanges Want Your Next Stock Trade in 2027
On LBank, traders can take a position on Nvidia without buying its shares. They can follow the chipmaker’s fortunes through a stock-linked instrument inside a platform they already use for crypto. It is one example of how exchanges are broadening their pitch…
Ethereum and Arbitrum Gain New Privacy Layer as Fhenix Goes Live
Fhenix has launched its mainnet alongside its fully homomorphic encryption coprocessor, enabling smart contracts to execute directly on encrypted data while enforcing rules onchain. Offchain Computation and Dual-Mode Tokens Fhenix launched its mainnet on…