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Coin Stories with Natalie Brunell
News Block: ‘Then They Fight Us?’ DOJ Charges Bitcoin Wallet Founders with Money Laundering, Japan Intervenes to Prop Up Crashing Currency, Biden Proposes Tax on Unrealized Gains
Apr 30, 2024
13:10
Snipd AI
This podcast covers the arrest of Samurai Wallet founders for money laundering, DOJ's stance on Bitcoin wallets as money transmitters, Japan's intervention in currency devaluation, and Biden's proposal to tax unrealized gains.
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Quick takeaways
- Samurai Wallet founders faced money laundering charges despite being non-custodial, raising questions on money transmitting regulations.
- US regulatory uncertainties prompted some wallet providers to exit the market, reflecting challenges in the crypto landscape.
Deep dives
Samurai Wallet Founders Arrested for Money Laundering and Operating Unlicensed Business
The Department of Justice arrested and charged the founders of Samurai Wallet for money laundering and operating as an unlicensed money transmitting business. Samurai's Whirlpool service, a crypto mixer, batched Bitcoin transactions for privacy, making it hard to trace. Despite being non-custodial and just providing open source code, the founders faced allegations of facilitating money laundering, with questions raised on the definition of a money transmitting business.
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Discover
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