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OKX Pays $505M to Settle U.S. AML Violations, Vows to Lead in Global Compliance

Global crypto exchange OKX is shelling out a hefty $505 million to settle a legal mess after pleading guilty to running an unlicensed money-transmitting business, a violation of U.S. Anti-Money Laundering (AML) laws. The deal comes after a U.S. Department of Justice probe revealed that some American customers were trading on OKX’s global platform—despite the…

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US officials have seized $31 million worth of crypto linked to the 2021 Uranium Finance hack

U.S. authorities have made a bold move in the fight against cybercrime, seizing $31 million in cryptocurrency connected to the 2021 Uranium Finance hack. The haul marks a significant step in tracking down funds stolen in one of the high-profile breaches that rocked the crypto world a few years back. Details remain scarce, though—officials aren’t…

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Brazil Intends to Dismiss BRICS Currency Proposal

In a strategic shift, Brazil has decided to abandon the proposal for a unified BRICS currency during its presidency of the bloc in 2025. Instead, the nation will focus on enhancing trade using local currencies among BRICS members—Brazil, Russia, India, China, and South Africa—to reduce dependence on the U.S. dollar. This decision comes as President…

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Brazilian national faces 20-year sentence for $290 million Bitcoin Ponzi scheme

A Brazilian citizen appeared in U.S. District Court in Seattle following extradition from Switzerland to face $290 million Bitcoin investment fraud charges. According to the press release from the US Department of Justice, Douver T. Braga pleaded not guilty to a 13-count indictment involving wire fraud and conspiracy related to the Trade Coin Club (TCC) scheme. Braga,…

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