Search results: compliance

The SEC alleges Binance.US has not fully complied with information requests regarding customer assets.

From US crackdowns on Binance and Coinbase to new business-friendlier frameworks in Hong Kong and Europe, seismic shifts in crypto regulations are under way.

Binance said it has more than 700 employees in its compliance team, which includes 170 staff working to combat crypto fraud.

Top blockchain and crypto news: Bittrex in SEC line of fire. Bored Apes fall after whale sale. Chinese banks court crypto clients.

Hong Kong’s new digital asset-friendly policies could set the city up as the home for secondary NFT marketplaces from China as trading of ‘digital collectibles’ remains a gray area on the mainland.

Many crypto exchanges are implementing proof of reserves as trust and confidence are becoming two of the biggest watch words in the crypto space, but traditional institutions are also trying to bring the crypto sphere back to health.

Google agreed to improve its legal compliance process in a settlement with the U.S. Department of Justice after failing to produce data on the now-defunct crypto exchange BTC-e in 2016.

The Securities and Exchange Commission of Thailand (Thai SEC) has filed a police complaint against cryptocurrency exchange Zipmex and Akalarp Yimwilai, cofounder of the company and CEO of its Thai unit, for non-compliance. See related article: Thailand mandates warnings on crypto ads Fast facts In a statement, Thai SEC said it had ordered Zipmex to […]

Decentralized exchange Uniswap has appeared to block 253 wallet addresses linked to illicit financial activities on its front end after the U.S. government imposed sanctions on Tornado Cash earlier this month. See related article: Largest Ether mining pool Ethermine stops processing Tornado Cash transactions Fast facts DeFi platform Yearn developer Banteg tweeted on Saturday that […]

Regulatory compliance will be critical to improving crypto’s ‘Wild West’ image and public acceptance, writes Karen Er and Benjamin Bai of Amber Group. Here’s why.

The New York Department of Financial Services (NYDFS) slapped a US$30 million fine on the crypto arm of trading app Robinhood on Tuesday for allegedly violating the bank secrecy act, anti-money laundering, and cybersecurity regulations. See related article: Sam Bankman-Fried buys 7.6% of Robinhood; stock jumps Fast facts The financial regulator also asked the firm […]

Binance founder and CEO Changpeng Zhao Monday said the world’s largest cryptocurrency exchange by trading volume spent over US$1 billion on compliance efforts with its market share continuing to increase. See related article: Binance’s Changpeng Zhao sues Bloomberg publisher in HK Fast facts Zhao Monday said on his verified Twitter handle that a recent CoinDesk […]

The world’s biggest cryptocurrency exchange hired former Financial Conduct Authority official Steven McWhirter as a director of regulatory policy to better manage its compliance function.  See related story: Binance wants to play ball with regulators Fast facts McWhirter will lead the global regulatory policy team for Binance and brings over 20 years of experience in […]

Pioneers take arrows. No one knows it better than Binance. The world’s biggest cryptocurrency exchange by volume wants to set the industry standard when it comes to compliance and security as past missteps hold it in good stead.

South Korea’s financial watchdog has passed on the compliance of private cryptocurrency wallets to exchanges, as the Financial Action Task Force (FATF) travel rule went into effect on Friday. See related article: FATF updates regulatory guidance for crypto industry Fast facts “The travel rule only regulates transactions among individuals. There isn’t any rule pertaining to […]

As global markets continue to watch the Evergrande debt crisis nervously, Chinese bank branch agrees to U.S. risk management measures.

Three of South Korea’s four major exchanges have launched a joint venture to develop solutions for complying with the Financial Action Task Force’s (FATF) crypto travel rule. The travel rule sets a global standard for virtual asset service providers to combat money laundering and terrorist financing and requires exchanges to collect information on senders and […]

In the latest from the world’s third-largest cryptocurrency, which has gone from strength to strength this month, the Cardano Foundation is partnering with blockchain analytics provider Coinfirm.io to ensure the network complies with the Financial Action Task Force’s guidelines. Fast facts In a company announcement this week, the Cardano Foundation said it would be using […]

Upbit submits compliance report: China’s e-CNY trials broaden

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 — […]

After nearly a year under investigation, crypto exchange and derivatives trading platform Bitmex has agreed to pay as much as US$100 million to settle charges brought by the U.S. Commodity Futures Trading Commission and the Financial Crimes Enforcement Network, according to a company blog post. Fast facts Alex Höptner, BitMEX’s CEO, told Forkast.News in a […]

The chief of South Korea’s main finance sector regulator has spoken out again against banks that have requested exemptions from anti-money laundering compliance rules in their contracts with cryptocurrency exchanges. Fast facts Eun Sung-soo, the chairman of the Financial Services Commission said yesterday: “Banks should use their own judgement to make decisions and apply for […]

Facing an onslaught of regulatory scrutiny, Binance CEO calls crypto regulations ‘positive sign’ of a maturing industry and announces new hires in compliance.

Crypto exchanges WazirX and Binance look to implement stronger compliance measures. Forkast News speaks with FTX founder and CEO Sam Bankman-Fried about crypto regulatory measures in Asia. Chinese district rewards residents with e-Yuan for counting footsteps. We’ll have more on these stories and other news shaping the cryptocurrency and blockchain world in this episode of […]

The chief of South Korea’s main finance sector regulator has said that no banks will be exempted from anti-money laundering and counter-financing of terrorism compliance when they sign contracts with virtual asset trading platforms. Fast facts According to South Korea’s crypto exchange regulations, crypto trading platforms must acquire contracts with local banks to provide their […]

Ripple is also asking court to order SEC to reveal the agency’s internal employee policies on trading cryptocurrencies and other digital assets.

The RegTech grant, although not directed towards cryptocurrency, could have a profound impact on the industry.

When it comes to issues over crypto regulations and compliance, answers could be found in blockchain technology, writes Rachid Ajaja of AllianceBlock.

Crypto and compliance is a hot topic these days, with Ethereum co-founder Joseph Lubin’s incubator joining the fray with a new toolset.

In 2017-2018, a wave of “initial coin offerings” (ICOs) swept the global markets, as companies looked for innovative ways to raise capital.  The United States regulatory authorities, particularly the Securities and Exchange Commission, took a dim view of these capital raises, however, and cracked down on such unregistered coin offerings.  For those companies that joined […]

Cryptocurrency giant Binance converts $1B safety fund to USDC, signaling a strategic move to enhance transparency and re-enter the Indian market.

Ripple’s upcoming stablecoin targets enhanced market transparency and compliance.

U.S. Senators Jack Reed and Laphonza Butler have expressed concerns over the approval of crypto ETFs beyond Bitcoin.

Gemini exchange reaches a settlement to return funds to users affected by the Genesis bankruptcy.

Fusing traditional banking and blockchain, OSL collaborates with UBS to execute Hong Kong’s first transaction of a tokenized warrant on the Ethereum.

HashKey Group achieves unicorn status following a US$100 million funding round, reaching a US$1.2 billion valuation.

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

Imminent SEC decision on Bitcoin ETFs could mark a watershed moment for crypto, spearheaded by industry giants BlackRock and VanEck, reshaping the investment world.

The move is part of SC Ventures’ expansion into the United Arab Emirates.

Global regulatory pressure on the world’s largest exchange continues to take its toll.

Top blockchain and crypto news: Is Japan a new frontier for Binance? AI art sweeps NFT sales. ETF buzz electrifies Bitcoin.

Few tokens and too many exchanges are a bad recipe for Japan’s smaller crypto trading houses. The experts say there’s room for up to five only. So what happens to the little guy now that the world’s largest exchange Binance has rolled back into town?

The exchange added that it will also stop releasing new products and services in the country.

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

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.

PYUSD’s launch is injecting much-needed trust into crypto’s turbulent landscape, but its current form does not come with any of the benefits of real crypto, writes Danny Chong, co-founder of Tranchess.

With winds in its legal sails, crypto is now poised to evolve into a complete economy with its own financial products and capital markets. The question is when.

Bond markets, which go back 400 years, are still bogged down by high costs, delays and a gauntlet of middlemen. Here’s how blockchain technology can reform the sector.

Europe’s first spot Bitcoin ETF ushers in an era where traditional finance and crypto are converging, setting the stage for digital assets to become mainstays in the economy.

A growing number of asset management companies are joining the race for the approval of a Bitcoin spot exchange-traded fund in the United States while the Securities and Exchange Commission keeps delaying its decision on existing applications.

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.

After Grayscale’s legal win, the SEC decided to postpone its decision on spot Bitcoin ETF applications. Will these proposals be greenlit? And when?

Mastercard and cryptocurrency exchange Binance will end their crypto debit card program in Argentina, Brazil, Columbia and Bahrain from Sep. 22.

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.

Despite the outrage against Sam Bankman-Fried and the now-bankrupt exchange, everyone would be better off with a relaunched FTX 2.0, writes Rachel Lin, CEO of SynFutures.

Fractionalizing assets on-chain can greatly increase liquidity, security and market efficiency, writes Hamilton Keats. Here are the key trends and challenges.

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.

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.

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.

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.

Crypto buying subsided as the U.S. regulator made no official comment on Bitcoin exchange-traded fund (ETF) applications and executives quit Binance, the world’s largest crypto exchange.

Binance Chief Strategy Officer Patrick Hillmann and Vice President for Compliance Steven Christie both confirmed they are leaving the firm.

Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, while most of the top altcoins were mixed, as investors await the U.S. Securities and Exchange Commission’s (SEC) response to spot Bitcoin ETF applications. See related article: Weekly Market Wrap: Bitcoin breaches US$31,195 following Fidelity’s spot Bitcoin ETF application Bitcoin, Ether rise, top 10 […]

Bitcoin and Ether traded little changed on Wednesday morning in Asia, while the rest of the top 10 non-stablecoin cryptocurrencies were mixed.

Digital assets funds have been flowing in waves all over the world since crypto’s inception, writes Amy Yu, CEO of SEBA Bank. Where is crypto capital going now?

Ledger announced the launch of Ledger Enterprise Tradelink, a secure and regulation-friendly trading system for institutional investors.

Collaborative venture building involves pooling resources, expertise and ideas — a strategy ideal for Web3 startups to succeed, writes Katherine Ng.

Bitcoin Cash, the spin-off of the world’s largest cryptocurrency, gained over 108% in the last seven days as investors hope the altcoin receives the same categorization as Bitcoin.

Bitcoin traded above US$30,000 to hold onto the strong gains made this week on the back of growing institutional interest in the token as an emerging asset.