Bitcoin (BTC) is on the cusp of regaining $21,000 as charges are filed against a little-known crypto exchange platform and rumors swirl around embattled crypto lender Genesis.
In a new press release, the U.S. Department of Justice (DOJ) is announcing charges against Hong Kong-based crypto exchange Bitzlato and its founder, Russian national Anatoly Legkodymov.
The DOJ alleges that Legkodymov failed to maintain proper regulatory safeguards, including having substandard anti-money laundering practices.
As stated by Assistant Attorney General Kenneth A. Polite in the press release,
“As alleged, the defendant helped operate a cryptocurrency exchange that failed to implement anti-money laundering safeguards and enabled criminals to profit from their wrongdoing, including ransomware and drug trafficking.
The National Cryptocurrency Enforcement Team’s tremendous efforts to disrupt Bitzlato and