>

Is that not the goal of cryptocurrency?
Most interested in who the “majority owners from Miami” are. Conspicuously absent from the article. >

Non Russians who are looking forward to their share increasing. >

Honestly surprised DeSantis didn't bring this criminal into his administration and put him in charge of the state's economy. >

There’s still time. He’ll offer a pardon if he’s elected President, and then make him head of Treasury. >

Oh no...I am so shocked that a fraudulent currency was used to commit....... Fraud. >

Which one? The US Dollar? >

You have certainly used the US dollar for legitimate and legal transactions.
Cryptocurrency is not currently used for those types of transactions... >

Maybe not in the US but in a lot of other countries it is being used for everyday things. Latin America, Ukraine, parts of Africa for example. 
It’s coming to the US soon too. Mastercard and Visa are currently working to integrate the Ethereum blockchain into their payment process system. Layer 2s are faster and cheaper then traditional ways of payment processing. >

El Salvador has lost nearly $100,000,000 in the year since they adopted bitcoin as a currency. >

Good Guy DOJ reminding folks that crypto is not some untraceable asset for criminals >

crypto is hilariously easy to trace, which is the best part. wait until you snag that sweet NFT you've been eyeing. the moment you post about it (because what's the point of an nft if you can't pump and dump the asset with artificial hype?), the wallet and all of its transactions immediately connect to you >

What?!? Money laundering using crypto?! >

Even Pikachu ain't shocked anymore. Nothing good has come from crypto, just a waste of electricity and graphics cards.... >

That's why you use an NFT as your profile pic? >

Free shit is free shit. Idgaf if it's an NFT. >

Is that not the goal of cryptocurrency? >

I'm sorry but the High Tech Axis of Crypto Crime sounds like a pretty cool super villain group >

Or the name of a Ska Band >

From the article:

Bitzlato did business with customers in the U.S. and its employees advised users that they could transfer funds to American banks. Legkodymov allegedly led the exchange as its senior executive and majority owners from Miami since 2023. He faces a maximum of 5 years in prison if convicted, but federal authorities on Wednesday stressed that the investigation is ongoing and additional  charges could follow.

That's where he screwed up. Even so, the US government has very limited jurisdiction, as he is not a US national and most of his company's criminal activity is extraterritorial.
On paper his maximum sentence looks to be even lighter than Al Capone getting caught on tax evasion. >

Re: u/BurritoLover2016
They accused me of being a Russian bot, more or less.
As for Capone, it's a bit relative. He died shortly afterwards, but that was probably due to untreated syphilis (as was the fashion of the time ;) He only served 8 of his 11 year sentence and lived another 7 years afterwards. >

Ah gotcha, yeah then that's just dumb.
Also, thanks for showing me that you can mention another user like this. Super useful! >

Would be nice if bankers faced similar repercussions for things like laundering money for cartels. >

More and more I feel a huge driving force being the crypto fad was driven by Russia's Internet Research Agency (a troll farm) to massively redistribute wealth and launder money. By no means the only force, but the crossover of personalities favoring it and involved in Russian narratives  is hard to take as a coincidence. I'm speculating too much, to be fair, and sadly the anonymous nature and lack of investigative resources to try and identify any trends will likely mean we'll never know who truly profited from the crypto scheme. >

There’s a financial terrorist that opened up shop in Miami goes by the name of Kenneth C. Griffin. When will his day be up? >

The one that lied under oath to congress? 
The one that colluded with the Robin Hood company and illegally stop the buying of a certain stock? >

Yip that’s the one! >

Are you speaking from experience? >

I plead the fifth! lol
Seriously though, it was designed to bypass banks and governmental oversight aka money laundering. >

Doesn't seem to work that well since they keep getting caugth >

I didn't say it was a good way to do it, I said it's what it was designed for.
Just pay your percentage and the laundromat >

If i was doing money laundering I'd prefere to use a bank, cartels, inside traders, billionaires etc. use it all the time and they seems to get away with it or use one of the many loopholes in our financial system like donate art or have my own charity organizations or something like that >

Our local drug dealers used the nail salons. Those nail salon owners had the nicest cars- and never any customers. >

A Crypto Crime Capo? Crazy! >

Probably was giving money/dealing with republican funds. They do love Russia and PuPu… >

As opposed to all the good guy Russian crypto bros. >

Everyone here acting like banks haven’t been laundering dirty money for ever and like they don’t launder far more.
Edit:
This just in, traditional financial corp does traditional finance things but this time with crypto. >

The article mentions that it’s used mainly in Russian speaking countries. Most redditors don’t speak Russian, therefore less likely to know about it >

Worst supervillain crime syndicate ever. >

Great!  Less criminals in crypto, the better. 
It still seems like it will be years of dragging its heels before the SEC, and similar organizations actually give crypto a fair chance at legislation that protects consumers, same as they do for banks. >

Most interested in who the “majority owners from Miami” are. Conspicuously absent from the article. >

Non Russians who are looking forward to their share increasing. >

Honestly surprised DeSantis didn't bring this criminal into his administration and put him in charge of the state's economy. >

There’s still time. He’ll offer a pardon if he’s elected President, and then make him head of Treasury. >

Oh no...I am so shocked that a fraudulent currency was used to commit....... Fraud. >

Which one? The US Dollar? >

You have certainly used the US dollar for legitimate and legal transactions.
Cryptocurrency is not currently used for those types of transactions... >

Maybe not in the US but in a lot of other countries it is being used for everyday things. Latin America, Ukraine, parts of Africa for example. 
It’s coming to the US soon too. Mastercard and Visa are currently working to integrate the Ethereum blockchain into their payment process system. Layer 2s are faster and cheaper then traditional ways of payment processing. >

El Salvador has lost nearly $100,000,000 in the year since they adopted bitcoin as a currency. >

Good Guy DOJ reminding folks that crypto is not some untraceable asset for criminals >

crypto is hilariously easy to trace, which is the best part. wait until you snag that sweet NFT you've been eyeing. the moment you post about it (because what's the point of an nft if you can't pump and dump the asset with artificial hype?), the wallet and all of its transactions immediately connect to you >

I'm sorry but the High Tech Axis of Crypto Crime sounds like a pretty cool super villain group >

COWER BEFORE THE MIGHT OF FINTECH!
Cyber-sharkman villain bursts through the wall
WE'RE HERE TO TAKE A BITE OUT OF TRADITIONAL BANKING! ENTRUST YOUR MONEY TO THE FEARSOME FINTECH AND SEE RETURNS OF 1 JILLION PERCENT! CASH IN YOUR 401K! >

What?!? Money laundering using crypto?! >

Even Pikachu ain't shocked anymore. Nothing good has come from crypto, just a waste of electricity and graphics cards.... >

That's why you use an NFT as your profile pic? >

Free shit is free shit. Idgaf if it's an NFT.