| Even as cryptocurrency use in the United States surges and the industry has sought mainstream acceptance, some of its biggest players have been embroiled in recent scandals.
The Coin Laundry revealed that as recently as July, a Cambodian financial institution flagged by U.S. authorities as a money laundering concern sent hundreds of millions of dollars worth of cryptocurrency to accounts at some of the world's largest exchanges, including Binance and OKX. These funds kept flowing even after U.S. authorities found major problems with the firms' anti-money laundering protocols.
"These are juggernaut financial institutions," said anti-money laundering expert Alison Jimenez, who warned that oversight is lagging behind big banks.
"Cryptocurrency oversight is a very loosely knitted-together safety net," she said. "Now it's just getting pulled farther apart."
The IRS did not respond to ICIJ's request for comment. Read more here.
HONG KONG FEEDS EUROPEAN TECH TO RUSSIA
Traders in Hong Kong and mainland China are supplying Russia's war machine with European electronics and military technology, exploiting loopholes in international sanctions, according to a new report from researchers at the Committee for Freedom in Hong Kong Foundation.
CHINA BACKTRACKS ON DETENTION CAMPS
Research by a Czech political scientist shows that advocacy, scrutiny and investigative reporting like ICIJ's China Cables investigation pushed Chinese authorities from denial to dismantling parts of their mass detention system for Uyghurs.
ASIAN FINANCIAL HUBS COURT AFRICAN ELITES
Dubai, Singapore and Hong Kong are reshaping Africa's offshore economy, courting African elites and companies with tax breaks, light regulation and secrecy, according to a recent University of Oxford study.
Thanks for reading!
Carmen Molina Acosta
ICIJ's digital producer | 
