Australia Extradites Silk Road Moderator to US, Faces up to 20 Years

The former moderator for the Silk Road marketplace, Peter Phillip Nash, has been extradited by Australia to the US to face trial. He is charged with conspiracy to engage in narcotics trafficking, computer hacking and Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term. If convicted he faces up to 20 years in prison. He waived his extradition rights in March.

A US indictment, made public in December, revealed that Nash was arrested by Australian authorities as he was looking to launch Silk Road 2.0--whose suspected operator was also arrested three weeks ago.

Around the time of Nash's arrest, two other Silk Road administrators were arrested separately in the US and Ireland.

The extradition comes at around the same time as authorities take a closer look at the state of digital currency activity in the country. The Australian Crime commission has launched its Project Longstrike to investigate the use of digital currencies for criminal activity, while the ongoing Senate inquiry is working toward a framework for Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term.