Risky Biz News reports:
German and US authorities have seized a crypto-wallet service named Cryptonator on charges of money laundering and operating an unlicensed money service business.
The service allowed individuals to set up crypto-wallet funds that could receive and send funds from and to any type of blockchain service, effectively operating as a “personal cryptocurrency exchange” for each customer.
Officials say Cryptonator failed to implement anti-money laundering protections and knowingly allowed its service to be used for illegal activities.
Authorities seized the site’s official domain at cryptonator.com and charged its founder and CEO, a Russian national from the city of Perm named Roman Pikulev.
Read more at Risky Biz News.