On Tuesday, Binance was named as one of the three largest counterparties for crypto exchange Bitzlato, in a US Treasury order that prevents any covered financial institution from sending funds to the relatively unknown firm.

Bitlatzo’s majority owner, Anatoly Legkodymov or “Gandalf”, was arrested and indicted by the Department of Justice (DoJ) on Tuesday in the Eastern District of New York. He’s charged with operating an unlicensed money transmission business.

The Treasury has indicated that he’s a “primary money laundering concern” with connections to Russian illicit finance.

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