FinCEN takes action against Russian crypto exchange

The Financial Crimes Enforcement Network issued an order on a Russian virtual currency exchanger, PM2BTC, as a “primary money laundering concern.” The illicit finance is associated with Russian individual Sergey Sergeevich Ivanov.

“The United States and our international partners remain resolute in our commitment to prevent cybercrime facilitators like PM2BTC and Cryptex from operating with impunity,” said Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley T. Smith. “Treasury, in close coordination with our allies and partners, will continue to use all tools and authorities to disrupt the networks that seek to leverage the virtual assets ecosystem to facilitate their illicit activities.”

Read more on the order here.