Quantcast

Crypto lawyer: 'I have a little bit of beef with traditional financial institutions'

Bybit to disable logins for Malaysian users starting December 24
Binance and Circle announce strategic partnership to advance USDC adoption and crypto innovation
CATO Policy Analyst: Operation Choke Point 2.0 ‘has undermined many of the people trying to work and innovate’
SEC Approves First Crypto Index ETFs Combining Bitcoin and Ethereum
Bitcoin dips to $92K in ‘optimal dip-buying’ move as PCE boosts crypto
DOGE Founder Reacts to Bitcoin, Dogecoin and Ethereum Sell-off
Coinbase CEO: 'Crypto is the only payment rail that checks all three boxes'
CATO Policy Analyst: Operation Choke Point 2.0 ‘has undermined many of the people trying to work and innovate’
AI at the service of DeFi: Reflections and perspectives from the Saint-Alex Club
Avara’s Lens secures $31M for SocialFi-focused L2 blockchain
US Federal Reserve (Fed) Continues to Cut Rates by 25 Points: New Highs for Bitcoin?
$300m of other tokens bridged to Solana in the last week, why?
Coinbase sued over WBTC delisting by Justin Sun-affiliated BiT Global
Bitcoin Soars to New Record Highs Over $106K, Let's Hope the Fed Doesn't End the Party
Increased gas limits on Ethereum L1 come with risks… but big rewards
Bitcoin Catches Up With Gold: New ATH for BTC-Gold Ratio
Bitcoin Backed by US Congress: Pro-Crypto French Hill Takes Chair of Finance Committee
BlackRock recommends 1-2% Bitcoin in your portfolio
UK watchdog asks firms to share current and future crypto exposures
Riot acquires 5,117 BTC for $510m
New SEC boss Paul Atkins will transform crypto… but not right away
Bitcoin: For billionaire investor Ray Dalio, only BTC and gold will save from future crises
BTC, XRP, DOGE Price: Dogecoin Drops, Bitcoin Steady Ahead of US CPI
Bitcoin hits level bulls must 'control' for a new $100K BTC price push
Trump reveals his price target for Bitcoin
Billionaire Ray Dalio Prefers Bitcoin Over Bonds
Bitcoin can separate money and state — David Sacks
Crypto Daybook Americas: Bitcoin (BTC) Price Hits Mid-Cycle Peak as Retail Interest in Altcoins Soars
Creating a strategic reserve with bitcoin: US states are exploring this possibility
El Salvador: When the Bitcoin dream meets the economic demands of the IMF
Crypto lawyer: 'I have a little bit of beef with traditional financial institutions'
Web3/Crypto
Webp irena
Irina Heaver, crypto lawyer at NeosLegal | Crypto Republique

Irina Heaver, a crypto lawyer at NeosLegal, said that banks have incurred over "$400 billion" in fines for compliance breaches and "caused the 2008 financial crisis," yet cryptocurrency is often labeled as a "scam." Heaver made this statement during her talk at Binance Blockchain Week.

"I have a little bit of beef with traditional financial institutions," said Heaver. "Banks have been breaching compliance rules and regulations for years. Just in the last 20 years, more than $400 billion of fines were imposed on banks throughout every jurisdiction. Banks caused the 2008 global financial crisis, right? And people are calling crypto projects scams or trying to give us a bad name."

According to data collected from Chainalysis and the United Nations, traditional finance accounts for over 99.97% of global money laundering activities, while cryptocurrency makes up only 0.03%.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

A report indicates that $300 billion is laundered annually through the United States, accounting for 15-30% of all global money laundering. In 2020 alone, approximately $227.8 million was laundered in the U.S. Furthermore, the most prominent money laundering case in the U.S. involved Wachovia Bank, which facilitated illicit transactions totaling $380 billion under the guise of a drug cartel.

The report highlights enforcement challenges, noting that only 990 offenders were recorded out of 76,538 cases, illustrating significant gaps in the prosecution and tracking of money laundering activities.

Heaver is a lawyer and partner at NeosLegal with over 20 years of experience. Since 2016, she has advised more than 250 Bitcoin, crypto, and Web3 projects, focusing on token launches, fundraising, and market expansion in Dubai/UAE. She has worked with venture capitalists (VCs), investors, governments, and regulators.

Binance Blockchain Week is a conference that brings together innovators, founders, investors, regulators, and officials to discuss the future of blockchain and Web3. The theme of this year's conference is "Momentum." According to the event's website: "Momentum propels our industry, not only taking us through challenges but also leading us to our biggest achievements."

Organizations Included in this History
More News

Brian Armstrong, CEO of Coinbase, said that broader cryptocurrency use will emerge from seamless products where users benefit without engaging with the underlying systems.

Oct 22, 2025

Michael Saylor, co-founder of Strategy Inc., announced that the company has expanded its bitcoin holdings and reported a 25.9% year-to-date yield for 2025.

Oct 22, 2025

Lark Davis, founder of Wealth Mastery, advised traders to avoid leverage and risky "revenge trading" amid widespread liquidations and emphasized the importance of protecting capital.

Oct 22, 2025

Kent Lin, Co-founder of Optimum, said that Bitcoin's market capitalization is approximately 7% of gold's, suggesting that the rally in gold expands potential upside for Bitcoin.

Oct 22, 2025

Anna Milne, founding director of research for the CAFE Association, said that membership focuses on industry leadership that combines innovation with consumer protection, rather than merely adhering to baseline compliance.

Oct 20, 2025

Edward "Coach" Weinhaus, the Founding Executive Director of the CAFE Association, emphasized that fraud is a shared problem and detailed the organization's plan to educate consumers and support responsible companies.

Oct 17, 2025