Mexico Found 12 Illegal Local Cryptocurrency Exchanges
According to recent report 12 cryptocurrency trading platforms that were operating without legal recognition have been reported under the Financial Intelligence Unit in Mexico. While many experts believe that these exchanges are linked to the infamous Jalisco Nueva Generación drug cartel.
After reviewing and accessing the gathering information from various sources, these venues were tracked down by the Mexican Financial Intelligence Unit, which further identified 12 illegally running local cryptocurrency exchange businesses, during a recent discussion the head of FIU Nieto Castillo gave an assurance that the officials would look deeply into this and will work accordingly to resolve the issue.
“There are 12 unregistered platforms and at this point, we know they were operating illegally We are creating cases for the Attorney General’s Office to take action on this as soon as possible.”
Castillo further suspects that these illegal cryptocurrency exchange activities may be linked to criminals that are using digital assets in money laundering activities.
He also further suggested a possibility that the platforms might have a connection with the new generation drug cartel Jalisco Nueva Generación, as they were all situated in the same area.
The basic problem is the analysis of cryptocurrencies and their relationship with various criminal groups active outside.
While saying this he further added that “I am rather amused to see so many cryptocurrency platforms have been set up and working under the hood of various municipalities in the state of Jalisco”.
It has also been brought under that Mexican law that states that under these circumstances, each of these 12 illegal trading platforms will be fined up to $15,000.
Following up on the case, the FIU has identified at least three other criminal cases that have involved the use of digital assets. Identifying one of them as a Nigerian citizen in Mexico City who used to accumulate cryptocurrencies from Mexican victims and sent them back to their originating home country.
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