Nexo co-founder Antoni Trenchev au courant Cointelegraph that he believes the data discovered throughout the latest FinCen leak vindicates the crypto trade. According to the leak, the worlds main medium of exchange establishments cleared over $2 trillion suspicious dealingss and Deutsche Bank alone cleared over $1.three trillion of that quantity. Trenchev declared:
The first affair I'm feeling is vindication because like everyone has been expression for years, all that Bitcoin and money laundering in the same breath. We've been hearing that from regulators, from politicians, from bankers, from just about anyone. And it turns out that the number one choice for money launderers still is the U.S. dollar and still is the incumbent bequest commercial enterprise system.
Had such a stage of exercise come from Coinbase or Nexo, he united that legislation enforcement would have paid them a attend the very future day, expression Yeah, it is a atrocious double customary."
Trenchev additionally emphatic the truth that the one firm that was talked about inside the Leak with any cryptocurrency ties was OneCoin, and even that was a stretch, in his opinion:
Her [Ruja Ignatova, OneCoin founder] mission had little or no to do with crypto, they did not also have a blockchain. This is a basic construction advertising Ponzi scheme.
When it involves bankers, Trenchev believes that there's little motivation to curtail cash laundering and different illicit actions, because the penalty appears to be quite forgiving. In reality, such actions will be extremely profitable:
It's called willful blindness, like where you know there's someaffair wrong, but you choose to ignore it. <...> And then, second of all, the sanctions are not that bad. When you look at what happened, hardly anyone from the bankers has been prosecuted criminally for money laundering. And the caveat here is also that once you file a suspicious dealings report, this just about gives you immunity from the rule of law,
Nexo additionally information various suspicious activity reports with related regulators all over the world. Trenchev declared that roughly 4% of Nexos dealingss get flagged. The firm can also be pressured to adjust to the U.S. sanctions and black book nations like Iran, Venezuela, and North Korea,
Though it's unclear if the promotion generated by the Leak will result in investigations and prosecutions, most of the involved Sir Joseph Banks have been penalised by the market.
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