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Leader of $70M Cryptocurrency and Binary Options Fraud Schemes Extradited to the U.S.

The NCET intends to pursue criminal investigations and actions against cryptocurrency misuse by focusing on crimes committed by virtual currency exchanges, mixing and tumbling services, and money-laundering infrastructure actors.

The fraudsters claimed to be running a new cryptocurrency known as Bitcoiin2Gen (or B2G) that would deliver 8,000 times return.

REGULATORY UPDATES SEC Leadership Changes On April 14, 2021, the U.S. Senate voted to approve President Biden’s nomination of Gary Gensler as Chairman of the Securities and Exchange Commission (the “SEC”) through June 5, 2021. The vote came after the Senate Banking Committee endorsed Gensler’s nomination in March 2021. The confirmation only approves Gensler to serve the remainder of former SEC Chairman Jay Clayton’s term, though the Senate Banking Committee has cleared Gensler to serve another five-year term afterward. Gensler served as chairman of the U.S. Commodity Futures Trading...

The US Department of Justice (DoJ) said on Tuesday that Kristijan Krstic, a Serbian national, has been charged in an indictment for allegedly participating in international, cryptocurrency-related fraud.  According to the complaint, the 45-year-old founded two platforms, Start Options and B2G, and also served as the Chief Financial Officer (CFO) of Start Options. It has been alleged that between roughly 2017 and 2018, Krstic and co-conspirators targeted investors in the United States, luring them to purchase securities in the form of investment contracts in both companies, marketed as succe...