Analysis Today TheBitTimes.com

Bulgarian prosecutors have ended the criminal investigations into crypto lender Nexo. A report published on Friday said authorities had found no evidence of money laundering and tax offences against Nexo and four of its executives. The Bulgarian Prosecutor’s Office closed its criminal investigations against crypto lender Nexo and four of its executives, a local news agency reported on Friday. According to the report, prosecutors found no evidence of criminal activity on the part of Nexo and the four executives Kosta Kanchev, Antoni Trenchev, Kalin Metodiev and Trayan Nikolov. Tax and computer fraud charges against the defendants have also been dropped. Bulgaria police raided Nexo offices in January this year, with authorities alleging potential criminal activity in relation to money laundering, tax offences and unauthorised banking activities. But the prosecution has concluded that Nexo’s products “do not constitute financial instrument...

On the day that Binance and its founder (CZ) pleaded guilty to federal crimes in Seattle, the crypto industry was stunned. There were endless reasons to be gobsmacked. Why did CZ step foot on US soil at all? How long might he go to prison? How could he and his company afford to pay their multi-billion dollar settlement? Does Binance have distant ties to Jeffrey Epstein? Astute observers were questioning another, perhaps far more important event that day. In an obstinate post to X (formerly Twitter), CZ issued an incredible declaration, “I am proud to point out that in our resolutions with the U.S. agencies they do not allege that Binance misappropriated any user funds .” Journalists blinked twice. One word in that sentence might impact CZ’s civil liberties. Were it not for “resolutions” that post would have been a lie on the very day that he thought he had signed a criminal settlement. It’s not the best idea to mislead the public about a settlement with the US Department of ...

Two U.S. elected officials wrote to the Department of Justice, calling for a concluded investigation on Binance and Tether that could lead to litigation against the pair of crypto heavyweights. Senator Cynthia Lummis, who sits on the Senate Banking Committee, cited an Oct. 10 Wall Street Journal (WSJ) report claiming that Hamas and its affiliate raised millions through cryptocurrencies.  The article in question and subsequent reports of the same ilk have since been refuted by blockchain data companies like Elliptic, per crypto.news. Lummis’ letter noted the likelihood of inaccuracies in WSJ reporting but insisted that the Justice Department exercise judicial might to counter crypto terror financing.  Though subsequent reports have highlighted that the level of funding reported in the article is likely not accurate we believe it is nonetheless imperative that the Department of Justice hold bad actors accountable if they are shown to facilitate illicit activity. Senator Cynthi...