FinCEN Takes Action Against Bitcoin Mixer for Violating the Bank Secrecy Act
By EsqSocial Corporation 27/10/20
On October 19, 2020, The Financial Crimes Enforcement Network (FinCEN) announced its first action against a bitcoin mixer: a $60 million civil penalty against Larry Dean Harmon. Harmon was the founder and operator of Helix (2014-2017) and Coin Ninja (2017-2020), both of which FinCEN said were unregistered money services business (MSB). FinCEN’s investigation into Harmon’s companies showed that Harmon “operated Helix as a bitcoin mixer, or tumbler, and advertised its services in the darkest...
By: Foley & Lardner LLP