Bulgarian law enforcement officials are reportedly investigating crypto lender Nexo for alleged money laundering and sanctions violations.
Crypto Lender Nexo Under Investigation for Alleged Money Laundering, Russian Sanction Violations in Bulgaria
Bulgarian Law Enforcement Raids Offices of Crypto Lender Nexo for Suspected Money Laundering and Sanctions Violations A client of the platform who transferred cryptocurrency has been officially declared an organizer of terrorist activity. It remains to be determined who will be charged with the crimes. More than 15 addresses are being searched, and new persons of interest are being established.
Unfortunately, with the recent regulatory crackdown on crypto, some regulators have recently adopted the kick first, ask questions later approach. In corrupt countries, it is bordering with racketeering, but that too shall pass.
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