1 / 4 Relevant items tagged with #AML
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South Korea probes Upbit for 600K KYC violations
[Nov 15 9:11 AM] Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with its business license renewal.
New York Regulator Hiring Blockchain Analyst to Tackle Crypto Crimes
[Oct 7 11:20 AM] New York’s financial regulator has a job opening for a Virtual Currency Senior Blockchain Analytics Analyst. The permanent position focuses on preventing financial crimes such as money laundering and fraud by ensuring compliance in the…
Academic paper suggests governments should attack public blockchains
[Oct 6 7:15 PM] Crypto exchange Kraken has announced the delisting of Monero in the European Economic Area to maintain compliance with EU regulations.
Binance Secures 20th Global Milestone With Argentina Crypto Registration
[Oct 3 6:30 AM] Crypto exchange Binance has achieved a significant milestone by joining Argentina’s Virtual Asset Service Providers Registry, marking its 20th global regulatory achievement. This allows Binance to expand its full range of services to…
‘Wealthiest US prisoner’: How did Binance founder CZ get there?
[Sep 27 9:21 PM] Binance founder and former CEO Changpeng “CZ” Zhao is the wealthiest person to serve jail time in the US, with current net worth estimated more than $60 billion.
Binance founder CZ walks free from US prison
[Sep 27 9:11 PM] He served four months in federal prison for charges including alleged violations of United States Anti-Money Laundering rules.
Sweden sees crypto exchanges as professional money launderers
[Sep 24 7:39 AM] Swedish authorities label certain cryptocurrency exchanges as key enablers of organized crime, highlighting four distinct money-laundering profiles.
FATF Urges India to Strengthen Virtual Asset Regulation
[Sep 21 1:30 AM] India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised…
Chinese gov't mulls anti-money laundering law to 'monitor' new fintech
[Sep 14 9:45 PM] According to the Chinese government, 1,391 individuals have been prosecuted on money laundering-related charges in the first half of 2024.
FCA Files First Charges Against Unregistered Crypto ATM Operator in UK
[Sep 11 12:30 AM] The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs in the country. This case is significant as it represents the first prosecution under UK law for such activities. Osunkoya is…
India’s FIU Considers Approving More Offshore Crypto Exchanges
[Sep 6 1:30 AM] India’s Financial Intelligence Unit is reportedly reviewing four offshore cryptocurrency exchanges for potential approval to resume operations following the lifting of bans on Binance and Kucoin. The focus is on ensuring compliance with…
Fed hits Texas bank with cease and desist over servicing crypto firms
[Sep 5 4:16 AM] The US Federal Reserve said it identified “significant deficiencies” in the bank’s dealings with crypto clients and its risk management procedures.
Binance’s return to India comes with $86M tax demand
[Aug 20 1:32 PM] While Indian AML agencies have given Binance the green light to resume operations, authorities are still seeking $86 million in tax liabilities from the firm.
Seychelles Approves Bill on Virtual Asset Regulation
[Aug 20 2:30 AM] The Seychelles National Assembly has approved a draft bill to regulate virtual asset service providers (VASPs). The bill requires license-seeking VASPs to establish a substantial presence in Seychelles, such as having a resident director and an…
Moody’s, Elliptic join forces for enhanced VASP risk screening
[Aug 19 8:57 PM] The companies will combine their strengths to provide enhanced virtual asset service providers screening ability.
Binance Goes Live in India: Full Access for Indian Users
Peru Issues VASP Regulation, Strengthens AML/TF Requirements
[Aug 10 9:30 PM] The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF…
BitMEX expects ‘no further fines’ for ‘old’ AML violation in US
[Jul 11 1:23 AM] BitMEX addresses the DOJ’s BSA charge as a past issue, highlighting their compliance improvements and founders’ prior penalties.
Hawaii crypto firms no longer need MT license, regulator rules
[Jul 1 2:34 AM] While being exempt from the Money Transmitter License requirement, crypto firms in Hawaii will still have to comply with any federal licensing laws.
Blockchain Association objects to IRS broker rule in letter
[Jun 21 3:45 PM] The Washington DC-based blockchain advocacy group argued the IRS' broker rule provisions violate the Paperwork Reduction Act.
Bitcoin's Role In Defending Democracy In Nicaragua With Félix Maradiaga
[Jun 20 8:15 AM] At the 2024 Bitcoin Policy Summit, Nicaraguan pro-democracy activist Félix Maradiaga shared his insights on the severe challenges facing his country, which is under the autocratic rule of Daniel Ortega.According to Maradiaga, the Nicaraguan people…
Singapore flags digital payment tokens as high-risk in AML landscape
[Jun 20 5:13 AM] Singapore said digital payment token service providers, also known as virtual asset service providers, stand out as a high-risk category within the financial sector.
Binance fined $2.25M by India’s Financial Intelligence Unit
[Jun 20 12:56 AM] India’s financial watchdog issued charges against Binance after reviewing written and oral submissions from the Binance director and available company records.
Citadel-backed Hidden Road halts ByBit access for clients
[May 30 10:30 AM] Hidden Road cited Know Your Customer verification policies and concerns surrounding Anti-Money Laundering regulations on the ByBit exchange.
Malaysian Authorities Bust Syndicate Accused of Laundering Fraud Proceeds via Cryptocurrency
[May 25 8:36 PM] Law enforcement officials in Malaysia recently arrested ten individuals linked to a criminal syndicate that allegedly used cryptocurrencies to launder fraudulent proceeds. Assets, including motor vehicles, valued at more than $7.7 million were…
US Treasury strategy would tighten virtual asset regulations, increase AI use
[May 17 12:26 PM] The Treasury’s fight against illicit finance will focus on better regulations, greater enforcement and AI.
Coinbase sees infinite interoperability potential with Ethereum and USDC
[May 9 3:35 PM] Coinbase head of tokenization Anthony Bassili described plans for its Base network at TokenizeThis 2024 in Miami.
Canadian regulator fines Binance $4.4M for AML and CFT violations
[May 9 12:45 PM] FINTRAC reported that Binance facilitated 5,902 separate transactions of $10,000 or more in crypto from June 2021 to July 2023 and failed to register with the regulator.
Report: 30% of UK Watchdog’s Financial Crime Experts Focused on Crypto Businesses in 2022-23
[May 3 2:21 AM] According to a report, the Financial Conduct Authority, a watchdog for the financial services industry in the U.K., had 30% of its financial crime specialists focused on crypto-asset businesses. Assessments conducted by supervisors in the U.K…