Bitzlato co-founder Anatoly Legkodymov is accused of helping to process $700m in illicit funds.
US Attorney Breon Peace said "institutions that trade in cryptocurrency are not above the law"
The US Department of Justice charged Anatoly Legkodymov, a Russian national living in China, with running a business that catered to what he once described as "crooks". "As alleged, Bitzlato sold itself to criminals as a no-questions-asked cryptocurrency exchange, and reaped hundreds of millions of dollars' worth of deposits as a result. The defendant is now paying the price for the malign role that his company played in the cryptocurrency ecosystem."
The firm required minimal identification from its users, allowing it to become a "haven for criminal proceeds and funds intended for use in criminal activity", prosecutors said.
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