Editor's Note: In the latest installment of our series, the ACAMS moneylaundering.com legal team covers the use of non-fungible tokens to move and launder funds. On June 1, Nathaniel Chastain, a former product manager at online non-fungible token marketplace OpenSea, was charged with fraud and money laundering pursuant to what federal prosecutors in New York described as the "first-ever digital-asset insider trading scheme." Relying on confidential corporate data, Chastain, 31, allegedly used "anonymous digital currency wallets," Ethereum cryptocurrency and anonymous user accounts at OpenSea to buy dozens of NFTs—digital assets that trade like securities—at bargain rates, waited for the items...
Russia has drawn widespread international censure and harsh economic sanctions from the U.S., EU, and other jurisdictions since Feb. 24, when the Kremlin-ordered invasion of Ukraine commenced.
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