RATE Group | COVID-19 Pandemic Spurs Crypto Law Updates in J5 Countries
86083
post-template-default,single,single-post,postid-86083,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

COVID-19 Pandemic Spurs Crypto Law Updates in J5 Countries

19 Apr COVID-19 Pandemic Spurs Crypto Law Updates in J5 Countries

Posted at 06:05h in Cryptocurrency News by

Cybercriminals are taking full advantage of the COVID-19 pandemic, which has forced life into a digital realm, by leveraging increased fear and uncertainty to steal money and launder it through the complex cryptocurrency ecosystem. Accordingly, the Joint Chiefs of Global Tax Enforcement, known as the J5, has ramped up its efforts by arresting cybercriminals suspected of laundering millions of dollars in cryptocurrency, according to a J5 joint statement. The J5 also has been updating its Anti-Money Laundering and Combatting the Financing of Terrorism laws for cryptocurrencies in accordance with Financial Action Task Force standards, with Australian researchers having linked half of all yearly transactions in the $250 billion Bitcoin (BTC) market to illegal activity, according to a new report.

Related: Petro Couldn’t Save the Cartel of the Suns Conspiracy From the Sting of Sanctions

The J5 is a multiagency coalition that includes government agencies from Australia, Canada, the…

Source link

Tags:
, , , , , , ,