U.S. Arrests Founder and Majority Owner of Cryptocurrency Exchange for Illicit Money Transmitting
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.