A bureau of the U.S. Treasury Department Monday imposed a $60 million penalty on Larry Dean Harmon, operator of the bitcoin “mixers” Helix and Coin Ninja, for allegedly violating anti-money-laundering laws, the agency said. The agency clarified in 2019 that financial institutions that are mixers and tumblers of convertible virtual currency must also comply with these requirements. Charles Flood, a lawyer at Flood & Flood representing Mr. Harmon in the DOJ case, said Mr. Harmon wasn’t represented by counsel in the FinCEN matter. Doing business as Helix, Mr. Harmon allegedly accepted and transmitted bitcoin from 2014 to 2017, according to the enforcement action. Mr. Harmon has been released on bail and is at his home outside Akron, according to Mr.

Source: Wall Street Journal October 19, 2020 21:54 UTC