Hello, guys I hope you’re doing well these days I’m lucky Ali is again back with another great piece of information and today I’m going to talk about the block inc. issue. The investigators of the United States working on current suspicious crypto transactions and Twitter’s founder Jack Dorsey owns a fintech firm whose name is Block so US investigators investigating the Block fIrm. The main problem here is suspicious terrorist transactions and this is a very sensitive issue and investigators working on it.
This thing has a payment platform square and a cash app these two companies break the terms and conditions which is why the investigation is going on. So according to federal prosecutors, This company provides payment services for terrorist groups and this is a very serious accusation. Transactions worth approximately amount $57,805 have been made to terrorist groups through fiat, credit cards, and Bitcoin. Not only this but the company has not reported thousands of transactions to the US government as required.
Recently Changpeng Zhao was sanctioned to four-month prison and the company paid the charges after that investigators in the US are in action mode and focusing more on other crypto exchanges and platforms so now they have to be careful and they should focus on security and follow the terms and conditions so that they cannot prevent from a trap in any case. Similarly, after Binance, the founders of Samourai Wallet, a BTC wallet service provider, were arrested on suspicion and this suspicion was money laundering. However, they denied the charges and were released on bail.
so we can see many cases and that proves the government is working to find these types of platforms and exchanges who are doing suspicious transactions and money laundering. I have also shared a post in which I said that Gary Gensler believes that Ethereum is security so he wants to control the future of Cryptocurrency however it is not possible they also finding excuses to stop Ethereum from developing more but thankfully Ethereum is taking precautions and going ahead.
These legal actions against crypto platforms and exchanges highlight the increased scrutiny and attention from regulators. According to some news sources, authorities are paying more attention to ensuring that these companies follow the rules and regulations related to preventing money laundering, terrorist funding (suspicious transactions), and complying with securities laws. These developments highlight the challenges faced by companies operating in the crypto space.
So I can say that whether it is any government most of them are against cryptocurrency and they are finding excuses to stop cryptocurrency but you can see that the Crypto space is doing very well and recently the ETF is the proof that crypto is the future normal people always look the regulations and major listing like Etf that is why we have to talk about these things so I hope you liked this information to share it I will meet you in my next blog
Lucky Ali
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
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Your information is really helpful. Thank you for presenting here. I believe that such small and big things will continue in this industry. It will not make any difference. @luckyali
true but we should have information. thanks bhai
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