Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking

Marathon digital decides to huddle and India creates a special task force for crypto related crime. You're watching Coin desk daily. I'm your host, Jen Sani Marathon digital, one of the largest Bitcoin miners bought $100 million worth of Bitcoin in the open market. The firm said it will readopt its strategy to hold all mined Bitcoin on its balance sheet. The miner now holds over 20,000 Bitcoin worth nearly $1.3 billion based on current prices on its balance sheet and it plans to buy more in the open market. That's according to a statement released on Thursday. The decision to huddle comes almost a year after marathon started to sell its mine to digital assets to pay for the company's operating expenses during the market implosion. And India has seen as many as 92 cases involving the dark net and crypto for drug trafficking since 2020 until April 2024. That's according to the nation's junior Home Minister, the data did not provide a distinction between how many of the 92 cases were solely dark net related and how many were solely crypto related in terms of methods of transactions. A special task force has been constituted to monitor such suspicious transactions. CD, payments, limited and emo institution and payments processor tied to crypto Exchange Coinbase was fined more than 3.5 million pounds which amounts to around $4.5 million by the financial conduct authority for lapses in its money laundering controls. The London based company is authorized by FC A and doesn't offer Cryptocurrency services itself, but it does act as a gateway for customers to trade crypto on entities within the coin based group. Concerns about the company's controls over financial crime were raised in 2020 CBPL then entered into an agreement that prevented it from taking on new high risk customers despite the restrictions in place CBPL on boarded and or provided emo services to 13,416 high risk customers. According to a statement from the FC A, that's it for coin desk daily, get more updates on Coin desk.com and we'll see you next time.