Search results: anti money laundering

Two U.S. senators have re-introduced the ‘‘Digital Asset Anti-Money Laundering Act of 2023’’ after months of delay, which puts greater emphasis on industry participants such as miners and validators. If the bill is passed, all crypto participants will be required to report transactions of over US$10,000.

Japan will introduce strict anti-money laundering rules on cryptocurrency transactions from June 1, the Southeast Asian nation’s cabinet decided on Tuesday.

For crypto to grow for the long term, the industry must show greater respect for global standards that combat crime, writes Slava Demchuk of AMLBot.

Binance, the world’s largest cryptocurrency exchange by trading volume, said it has worked with regulatory agencies from around the world to address outstanding compliance questions, following a Reuters report that U.S. federal prosecutors asked the exchange to offer internal records involving founder and CEO Changpeng Zhao for anti-money laundering checks in late 2020. See related […]

In written responses to questions from Sen. Pat Toomey, Treasury Secretary Janet Yellen releases non-custodial service providers from strict reporting rules.

Tether Operations, the company behind Tether (USDT) — the largest stablecoin by market capitalization — today announced that it will be trialing Notabene’s crypto travel rule compliance product for cross-border stablecoin transfers. Fast facts USDT has a market capitalization of over US$70 billion and over US$64 billion in 24-hour trading volume, according to CoinGecko data. […]

Coinone, one of South Korea’s major cryptocurrency exchanges, is creating a new center to strengthen its anti-money laundering capabilities. Fast facts Coinone announced yesterday it has established an anti-money laundering (AML) center and is making Suspicious Transaction Reports (STRs) to financial authorities. Coinone’s AML Center, along with its partner NH Nonghyup Bank, will conduct know-your-customer […]

Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Greg Monahan, a former U.S. Treasury criminal investigator, as its global anti-money laundering officer, according to a company statement. Fast facts Monahan’s appointment comes as Binance seeks to bolster its compliance efforts amid increasing scrutiny from regulators around the world — […]

Many of Britain’s crypto firms are failing to meet required anti-money laundering and counter-terrorism financing laws, says the country’s watchdog.

Non-fungible tokens may be a boon for art and sports collectibles, but the technology is also spawning a host of thorny regulatory and legal issues.

David Jevans, CEO of CipherTrace, explains FATF’s global influence and recent enforcement actions that have proven to be expensive for those caught.

FATF is setting international standards, shifting the crypto world from a “wild west” mentality to a more compliant space, says CoolBitX CEO Michael Ou.

Caroline Ellison details how Sam Bankman-Fried planned to raise capital from Saudi Crown Prince Mohammed Bin Salman as FTX struggled to repay lenders.

Recently proposed by Singapore in collaboration with fintech heavy hitters, PBM can be a powerful tool for promoting accountability and efficiency, writes Anndy Lian. But it’s not without risks.

Binance France is reportedly under investigation for “aggravated” money laundering and the illegal provision of digital asset services.

India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.

Prosecutors at the U.S. Department of Justice (DOJ) are reportedly split on filing charges against Binance and its executives on possible money laundering and sanctions violations, as part of a long-running criminal investigation.

Cryptocurrencies were listed for the first time as a means to launder and transfer money related to the drug trade by the China Ministry of Public Security on Thursday. See related article: China explores ways to classify cryptocurrency crimes Fast facts See related article: The SEC is building a SWAT team to combat crypto crime

Top blockchain and crypto news: Binance BNB slips amid allegations. STEPN marches through attacks. Is China’s slowdown straining crypto prices?

Blockchain technology is rapidly transforming the finance sector. DBS Bank CEO Piyush Gupta offers an insider’s look at what’s coming next.

Police crack a tele-fraud case related to digital yuan money laundering, potentially thanks to the CBDC’s ‘managed anonymity’ feature.

In a special Q&A, an Antinalysis spokesperson reveals the source of the company’s controversial data and disputes that it’s for criminals. ‘Privacy is a human right.’

The previous version of Antinalysis, which was based on the AMLBot API, was shut down but within a week it has respawned not just on the darknet but also on the clearnet.

Top blockchain and crypto news: A darkweb stain is scrubbed away. Solana’s moment in the sun. Alibaba huddles with Tencent.

Money laundering token tracer developed using AMLBot application programming interface was suspended within eight hours of public exposure.

London police announced on Tuesday they have seized a record £294 million (US $408 million) in cryptocurrency in less than a month, as part of an ongoing investigation into money laundering. Fast facts According to London police, their recent £180-million (US＄248.8 million) seizure in cryptocurrency comes less than three weeks after a £114-million (US＄157.5 million) […]

Nansen, a Singapore startup, is the latest darling of venture capitalists like Andreessen Horowitz (a16z) bullish on the growing field of crypto analytics.

Why are so few adopting FATF guidance for VASPs? Money laundering watchdog decries ‘continued misuse of virtual assets through jurisdictional arbitrage.’

Law enforcement agencies in several countries have arrested suspected members of a crypto-linked cybercrime group believed to be responsible for laundering more than US$500 million from ransomware attacks.

Despite anti-money laundering (AML) laws, many DeFi sites have weak know-your-customer practices. Experts point to BitMEX as a cautionary tale.

Conversation between current and former SEC chairs at annual digital asset compliance summit focused on regulating crypto.

Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.

India’s Enforcement Directorate has issued a show cause notice to cryptocurrency exchange WazirX for alleged foreign exchange violations involving 27.9 billion rupees (US$382 million).

CFTC cracked down hard on BitMEX. Forkast.News investigates what other cryptocurrency exchanges, if any, might be next in its line of enforcement fire.

Traders use commodity trading adviser funds to reduce risk of custody or money laundering, says Jan Brzezek, founder of Crypto Finance AG.

Changpeng Zhao, the former CEO of Binance, may receive a 3-year sentence and $50M fine for anti-money laundering violations.

KuCoin’s $10 million airdrop aims to retain users despite DOJ and CFTC charges.

After a brief withdrawal, HTX reapplies for a Hong Kong crypto trading license.

Zhao has pleaded guilty to money laundering charges in November.

Allied nations impose sanctions on entities allegedly aiding Hamas’ crypto transactions.

Major crypto exchanges vanish from Apple’s App Store in India, adhering to FIU mandates.

Top blockchain and crypto news: Bankman-Fried’s memory lapses, betting on the return of NFTs, ETF dreams and Bitcoin’s Uptober

In a rare move, Judge Lewis Kaplan sent the jury home early so he can decide what is and isn’t admissible in FTX founder Sam Bankman-Fried’s testimony.

Inside the world’s largest crypto exchange’s annus horribilis.

FTX’s collapse and the crypto winter helped regulators familiarize themselves with the rapidly evolving crypto industry, said Christina Rolle of the Bahamas Securities Commission.

South Korea’s cryptocurrency market has bounced back during the first half of this year but is still almost 50% below its value at the end of 2021, according to the Korea Financial Intelligence Unit (KOFIU), a government agency that oversees the nation’s anti-money laundering regime. See related article: Hamas crypto donation accounts frozen by Israel […]

Sam Bankman-Fried, the co-founder and former chief executive officer of cryptocurrency exchange FTX, should be blocked from bringing up artificial intelligence firm Anthropic’s latest fundraising efforts in his defense against the U.S. Department of Justice (DOJ), prosecutors said in a court filing on Sunday. See related article: Little-known FTX co-founder Gary Wang testifies in Sam […]

Top blockchain and crypto news: Spotlight on Bankman-Fried, Pudgy Penguins’ new revenue stream and Google’s Web3 goggles

Bringing together the best parts of centralized and decentralized exchanges, RDEXs also take into account the inevitability of regulations.

The prospect of FTX’s return to the competitive exchange landscape is being keenly watched by stakeholders, reflecting on its meteoric rise, groundbreaking approach, and tumultuous fall.

FTX’s former CEO, Sam Bankman-Fried, faces DOJ scrutiny with seven charges. Here are the six key figures in the coming crypto courtroom showdown.

The gates are opening for ordinary investors to buy into real-world assets like rare art and fancy real estate. But regulations and compliance hurdles remain.

Top blockchain and crypto news: Binance.US undergoes staffing shakeup. Ethereum NFTs at risk. India to take a stand on crypto.

The annual Korea Blockchain Week conference in Seoul is running from Sept. 4 to 10. Crypto industry leaders and advocates from around the world have gathered in the South Korean capital to discuss all things blockchain, including the growing regulatory gap between the U.S. and Asia.

The general public does not know this yet, but there is no longer any doubt that a Bitcoin spot ETF will come to the US market, writes Charlie McGlynn of XREX. It’s just a matter of when.

Top blockchain and crypto news: Coinbase steps up to fill void of crypto lenders. NFTs extend losses. What’s next for crypto as Singapore gets a new president?

Blockchain innovation in the U.S. could suffer from over-regulation of the crypto industry, cybersecurity expert Carole house said.

With nine months under its G20 presidency belt, India’s approach to cryptocurrency governance remains static. Amid regulatory ambiguity, the nation’s crypto industry struggles to cope with stringent tax rules.

The 9 key pieces of information you need to know ahead of the FTX founder’s first trial on Oct. 2

Bitcoin recaptured the US$26,000 mark today, while Solana fell to a six-week low. BNB was the biggest gainer in the top 10, despite allegations against Binance resurfacing.

Bitcoin fell Wednesday morning in Asia to trade below US$26,000. Ether also dropped as all other top 10 non-stablecoin tokens traded flat to lower.

Bitcoin holds its ground above US$26,000, but the top 10 cryptocurrencies see a dip. BNB remains subdued as Binance’s payment partner woes intensify.

Digital ID verified via blockchain can greatly expand economic opportunities for the world’s poor. But the market is fragmented and faces a rocky road of regulations, writes Tamas Kadar, CEO of SEON.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Combining blockchain with AI, two of the greatest innovations of this era, will unlock myriad benefits for consumers and businesses alike, writes Eugen Kuzin.

Moves by big financial institutions into digital assets are worrisome to crypto purists, but it could be just what crypto needs to shake off its doldrums, writes Konstantin Horejsi of Blocktrade.

Officials at the U.S. Department of Justice (DOJ) are considering fraud charges against Binance, according to news site Semafor.

Concerns arise over Worldcoin’s free crypto. NFT market does a crabwalk. Japan’s next big thing for the metaverse.

Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither

NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

Crypto’s current turmoil in the US stands in stark contrast to other jurisdictions that are paving paths to for the industry to shine, writes Sean O’Connor.