Taiwan's Shilin District Court sentenced Shi Qiren to 22 years for running a crypto exchange that laundered NT$2.3 billion (about $75M USD) through 45 physical storefronts. The FSC registration on the wall was not what the customers thought it was.
An Incheon indictment puts a number on a quiet trade: $554 million in alleged criminal crypto, converted to Korean won, routed through a Cambodian payment system Washington has called a primary money laundering concern. The man at the keyboard kept $1.2 million in fees.
By Nico Reyes · Jun 9
Daily at 6AM Eastern
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