OFAC sanctioned six Ethereum addresses linked to a Sinaloa Cartel money laundering network that converted drug proceeds into crypto as part of action against 11 individuals and two entities. The move raises compliance risks for crypto exchanges and virtual asset service providers by highlighting the cartel's use of blockchain technology.
The sanctions highlight how cartel-linked money laundering networks are using digital assets alongside cash couriers and front businesses.
This raises sanctions compliance risks for crypto exchanges and other virtual asset service providers.
Tap a lens to see what this story means for you.
Liked this? The Brief brings you the whole day in tech, verified, every morning.
Two minutes, free forever. What's in The Brief →
See what’s happening right now
The Feed runs all day — short, verified briefs the moment they break.
Open the FeedFollow @thecircuitry_
Every story we publish, as it happens. No noise between.
Reader-supported
The Circuitry is a passion project I've always wanted to build, and I love the work behind it.
Running it costs real money. APIs, hosting, time. To keep improving the site and growing this into something useful for everyone, those costs have to be covered.
Any contribution is appreciated. If not, no pressure. Thanks for reading.
Standard Chartered intends to launch digital asset custody services for institutional clients in Singapore. The expansion builds on existing operations in the UAE, Luxembourg and Hong Kong plus the 2025 establishment of a London crypto trading desk.
OKX attracted investment at a $25 billion pre-money valuation from Circle, Ripple, Standard Chartered’s venture arm and Qube Research. The round builds on prior support from Intercontinental Exchange and advances the firm’s tokenized asset and platform expansion plans.
OKXICE has notified the SEC of plans to operate nonstop tokenized trading for more than 60 U.S. equities under the Innovation Exemption, with pairs against stablecoins and access limited to verified wallets on XLayer.
The SEC advanced regulations permitting investment advisers and funds to custody crypto assets under defined conditions, establishing a regulatory path following the Clarity Act blockage last month.
MetaMask has begun removing Ethereum validators from Lido after a security incident struck part of its infrastructure. The action is precautionary, with no immediate wallet threat identified and ETH returns possibly taking up to 45 days.
