Mexican authorities identify 12 illegal local cryptocurrency exchanges

The Mexican authorities have recognized 12 illegal local crypto exchanges which will have hyperlinks to the Jalisco drug cartel, as we learn on our newest crypto alternate as we speak.

Mexico’s Financial Intelligence Unit has acquired data on 12 crypto exchanges which might be working with out a authorized license, and lots of consultants imagine these exchanges are associated to the Jalisco Nueva drug cartel. After the Mexican authorities obtained data from different sources, the Mexican authorities recognized 12 illegally operated local cryptocurrency exchanges. During a current seminar, Nieto Castillo, head of the FIU, assured that the authorities would work to resolve the issue:

“There are 12 unregistered platforms and we know we are currently operating illegally … We are creating the conditions for the Attorney General to work on this matter.”

Castillo doubts the exchanges could possibly be linked to criminals utilizing digital belongings for cash laundering actions, and he did not rule out the platforms might have hyperlinks with the group.

“A elementary subject can be the evaluation of cryptocurrencies and their relationship to prison teams. I’m stunned that there are various crypto platforms put in in a number of communities within the state of Jalisco. “

Under Mexican law, each of the 12 illegal trading venues faces fines of up to $ 15,000. To date, the FIU has identified three potential criminal cases involving the use of digital assets, and one of them involved a Nigerian citizen in Mexico City who used to withdraw cryptocurrencies from crypto exchanges, send Mexican victims and home. This isn’t the first time drug cartels and cryptocurrencies have been put in one basket. Spanish police have reportedly arrested a Dutch-Colombian drug dealer who laundered six million euros in digital assets and that the criminal was part of the Cali cartel, which represented property held in Europe. When authorities arrested the trafficker at his Marabella villa, he was surrounded by lots of luxury items, cars, watches, jewelry, and $ 85,000 in cash, along with a credit card linked to a crypto account, cell phone, and computer .

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