One thing disruptor banks didn’t expect to be challenging: Compliance
[Jan 9 2:00 PM] Innovative challengers are building compliance into their DNA and outcompeting established players.
1 / 4 Relevant items tagged with #Compliance
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EU silence does not make USDT MiCA-compliant, says exec
[Dec 27, 2024 11:05 AM] While MiCA’s implementation phase is ending on Dec. 30, 2024, there is also a transitional 18-month phase in MiCA’s total 36-month timeline.
Your VASP license won’t save you anymore
[Dec 23, 2024 7:00 AM] Relying solely on VASP licenses and superficial compliance policies isn’t enough.
Deutsche Bank builds L2 blockchain on Ethereum: Bloomberg
[Dec 18, 2024 12:31 PM] Deutsche Bank is building a layer-2 blockchain on Ethereum using ZKsync to enhance compliance in regulated finance.
Regulation compliance key to India’s crypto future — Bitget COO
[Dec 6, 2024 10:22 AM] As crypto exchanges face regulatory challenges globally, Bitget chief operating officer Vugar Usi Zade emphasized compliance and innovation for sustainable growth.
Uphold’s Topper brings crypto withdrawals to all non-custodial wallets
[Dec 4, 2024 2:55 PM] Topper’s crypto off-ramp solution is designed to allow anyone using a self-custodial wallet like MetaMask to convert their crypto into fiat.
Binance Boosts Compliance Staff by 34% Year-Over-Year, Citing Industry’s ‘Rapid Maturation’
[Nov 22, 2024 10:00 AM] Binance, the world’s largest crypto exchange, says it expects to have 645 full-time compliance employees on staff by the end of the year — a 34% increase from last November — as it continues to rapidly build out its compliance department.
Polymarket's Probe Highlights Challenges of Blocking U.S. Users (and Their VPNs)
[Nov 14, 2024 3:00 PM] What can offshore crypto companies practically do to stop Americans from accessing their services – and what do regulators expect them to do?
Alchemy Pay expands US compliance with four new state licenses
[Nov 8, 2024 12:42 PM] Alchemy Pay’s new MTL licenses in Minnesota, Oklahoma, Oregon and Wyoming bring its total to eight US states.
Transak Secures FINTRAC Registration in Canada and US Money Transmitter License in Delaware
[Nov 4, 2024 2:30 AM] Transak has recently obtained regulatory licenses in Canada and Delaware, solidifying its presence in North America’s cryptocurrency markets. Transak Expands Regulatory Reach in the U.S. and Canada Transak, a Miami-based Web3 payments…
Paxos launches USD-backed USDG stablecoin with DBS Bank
[Nov 1, 2024 8:12 AM] Paxos launches USDG, a Singapore-compliant stablecoin, partnering with DBS Bank for US dollar reserves in line with Singapore’s MAS framework.
Telegram to open an office in Kazakhstan, boost regulatory compliance
[Oct 14, 2024 8:45 AM] Telegram’s agreement to set up an office in Kazakhstan aligns with the firm’s increasing compliance efforts as its CEO remains in France amid an ongoing investigation.
TD Bank Makes History as First US Bank to Plead Guilty to Money Laundering Conspiracy
[Oct 14, 2024 1:30 AM] TD Bank, one of the largest financial institutions in the U.S., has agreed to pay a record $3 billion penalty, the largest ever under the Bank Secrecy Act, after pleading guilty to felony charges. The bank is the largest in U.S. history to plead…
New York Regulator Hiring Blockchain Analyst to Tackle Crypto Crimes
[Oct 7, 2024 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…
Binance Secures 20th Global Milestone With Argentina Crypto Registration
[Oct 3, 2024 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…
Pavel Durov Reveals Telegram Has Been Disclosing Data to Authorities
[Oct 3, 2024 12:30 AM] Telegram founder Pavel Durov has clarified the platform’s privacy policies, emphasizing that no significant adjustments have been made regarding how Telegram handles user data. He revealed that since 2018, Telegram has disclosed IP addresses…
Binance Secures Regulatory License in Kazakhstan for Crypto Trading
[Oct 2, 2024 3:30 AM] Binance Kazakhstan has secured a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority. This approval allows the crypto exchange to operate as a trading platform, broker-dealer, and digital asset custodian…
Binance Confirms Access Restrictions on Sanctioned Russian Users
[Oct 1, 2024 3:30 AM] Crypto exchange Binance says it is complying with international sanctions by denying sanctioned Russian individuals and entities access to its platform. “Compliance remains our top priority. We are deeply committed to our users and…
Binance continues to serve Russian users despite 2023 exit
[Sep 26, 2024 7:58 AM] A spokesperson confirmed that Binance continues to serve a “limited number of existing Russian users” a year after announcing its full exit from Russia.
USDC issuer Circle launches onchain compliance platform
[Sep 24, 2024 5:54 PM] It's an important step toward winning the tokenized RWA market as Circle continues to vye with stablecoin leader Tether.
Crypto Exchange Kraken Said to Hire Natasha Powell as UK Head of Compliance
[Sep 24, 2024 8:01 AM] Powell will start in her new role at the crypto exchange in November.
FATF Urges India to Strengthen Virtual Asset Regulation
[Sep 21, 2024 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…
SEC Fines Prager Metis $1.95M Over Negligent FTX Audits
[Sep 17, 2024 7:30 PM] The U.S. Securities and Exchange Commission (SEC) has reached a $1.95 million settlement with Prager Metis CPAs LLC and its affiliate over serious allegations related to their audits of crypto exchange FTX. The case highlights critical oversights…
Kraken Adjusts Margin Product to Comply With Australian Crypto Law, Calls for Clearer Regulation
[Sep 10, 2024 2:30 AM] The Australian Federal Court ruled that Kraken’s fiat margin extensions are subject to regulatory obligations, but crypto margin extensions are not. Kraken acknowledged the decision but stressed the need for clearer crypto regulations in Australia…
Binance Kazakhstan Receives Formal Consent for Regulatory License
[Sep 7, 2024 1:30 AM] Binance Kazakhstan received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license, marking a major step toward becoming Kazakhstan’s first fully regulated Digital Asset Trading Facility (DATF). The…
India’s FIU Considers Approving More Offshore Crypto Exchanges
[Sep 6, 2024 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…
UN Raises Human Rights Concerns in Telegram Founder Pavel Durov’s Case
[Sep 3, 2024 9:30 PM] The United Nations has expressed serious concerns about the arrest and charges against Pavel Durov, founder of Telegram, citing potential human rights issues. A U.N. spokeswoman called for adherence to international human rights standards…
Binance CEO Addresses Allegations of the Exchange Seizing All Palestinian Funds
[Aug 30, 2024 12:30 AM] The CEO of Binance has responded to allegations that the cryptocurrency exchange seized all funds from Palestinians at the request of the Israeli Defense Forces. Ray Youssef, CEO of Noones, criticized Binance, accusing it of yielding to external…
Kraken Crypto Exchange Fined by Australian Court
[Aug 24, 2024 11:20 AM] The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination…
Binance Unveils Plan to Hire 1,000 Employees This Year, Prioritizing Compliance Amid Regulatory Pressure
[Aug 24, 2024 5:30 AM] Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid…