cryptoenforcement

Regulators Strike Hard: Garantex Taken Down in Major Anti-Money Laundering Operation
$MOVE

In a decisive crackdown on illicit financial activity, US and European authorities have dismantled Garantex, a Russia-linked cryptocurrency exchange accused of facilitating billions in money laundering. This coordinated international effort involved law enforcement from the US, Germany, and Finland, resulting in the seizure of Garantex’s domains, the freezing of $26 million in illicit funds, and the shutdown of its servers. Additionally, two key figures behind the exchange, Aleksej Besciokov and Aleksandr Mira Serda, now face criminal indictments for their role in operating the platform.

Since its launch in 2019, Garantex allegedly processed a staggering $96 billion in transactions, serving as a financial hub for ransomware groups, darknet markets, and sanctioned entities. Authorities took swift action, with the US Secret Service replacing Garantex’s website with a law enforcement seizure notice. Meanwhile, Tether, the leading stablecoin issuer, froze $28 million linked to the exchange, further cutting off its operations.

This takedown signals a major shift in the global regulatory landscape, reinforcing the message that unregulated crypto platforms will no longer be safe havens for illicit finance. With authorities intensifying their oversight, exchanges may now face growing pressure to comply with strict regulations—or risk being driven out of business. As the crackdown gains momentum, the question remains: Will this force more platforms into compliance, or push bad actors further into the shadows? One thing is certain—the era of unchecked financial crime in the crypto space is rapidly coming to an end.
#CryptoRegulation #CryptoEnforcement #GarantexShutdown #MoneyLaundering

Helium Network Faces SEC Lawsuit: Deceptive Claims and Potential Fallout
The US Securities and Exchange Commission (SEC) has filed a lawsuit against Nova Labs, the developers behind the Helium Network, accusing them of deceptive practices. The SEC claims Nova Labs misled customers about partnerships with major corporations like Salesforce, Lime, and Nestlé.
The SEC's complaint, filed on January 17, centers around Nova Labs' "Hotspot" devices, which have been sold since 2019. These devices mine the Helium cryptocurrency and offer rewards for users sharing personal data. The SEC alleges that Nova Labs falsely claimed major companies were using its network, which led to misleading investors.
The regulatory body seeks permanent restrictions on Nova Labs, return of illicit gains, and financial penalties, although it has not disclosed specifics on the fines or losses. Despite the lawsuit, the price of Helium’s $HNT token has risen 10%, reaching $5.39.
This action is part of SEC Chair Gary Gensler's aggressive crypto enforcement, which is nearing its end as he steps down on January 20. The shift in leadership could lead to a change in regulatory approach, with President-elect Donald Trump poised to promote pro-crypto policies, including a Bitcoin National Reserve to encourage adoption.
$BTC $ETH $SOL
Material prepared by the exchange: coytx.com
Warning: Trading cryptocurrencies involves a high level of risk. Please consider your risk tolerance and only invest funds you can afford to lose.
#HeliumMobile #SEC. #HNT #cryptoenforcement #solana