Anti-Money Laundering – Page 3

Crypto Regulation News Weekly Digest: Anti-Money Laundering Support Gains Momentum in US Congress and India Takes Cautious Regulatory Approach

December 13, 2023

US lawmakers push for stricter crypto regulation while India reiterated its plan for a slow, evolutionary approach to digital asset legislation. Image by Kerem Goktug Kaya, DALL-E 3. The past week saw major developments on the crypto regulation front. In the United States, The CFTC Chairman classified many tokens as commodities, contrasting with the SEC’s…
Read more

Is Binance’s $4B settlement the green light for spot Bitcoin ETFs?

November 23, 2023

One crypto executive predicted five months ago that spot Bitcoin ETFs would only be approved after Binance lost ground on its market dominance. Binance’s $4.3 billion settlement with the United States was the final hurdle before the country’s securities regulator approves spot Bitcoin exchange-traded funds (ETFs), many industry watchers claim. The settlement involved Binance agreeing…
Read more

Taiwan Implements Stricter Regulations, Bans Unregistered Foreign Crypto Exchanges from Operating

September 27, 2023

Today, on September 26, Taiwan’s financial regulator, the Financial Supervisory Commission (FSC), unveiled new guidelines for Virtual Asset Service Providers (VASPs) aimed at enhancing the protection of cryptocurrency users in the country. In March, the FSC confirmed its position to closely regulate the cryptocurrency exchange sector to safeguard users within the state. Since then, it…
Read more

Crypto exchange Binance reopens exchange services in Belgium

September 26, 2023

In June, Binance was ordered to halt its services in Belgium “with immediate effect,” leading to the exchange redirecting Belgian users to its Binance Poland entity. Crypto exchange Binance has reopened registrations and access to its products and services for its Belgian crypto users again — three months after the exchange was ordered by Belgium’s…
Read more

South African Crypto Premium Surge After Kraken Abruptly Starts Blocking Deposits by Local Residents

August 31, 2023

The premium on crypto assets listed on South African exchanges briefly surged to 3.5% after Kraken’s abruptly started blocking deposits from users based in the African country. Some South African crypto experts have linked Kraken’s decision to the Financial Action Task Force’s recent addition of the African country to its greylist. Impact of the FATF’s…
Read more

Crypto Travel Rule implementation ‘remains relatively poor,’ says FATF

June 26, 2023

The United Nations body called on all member states to implement the Travel Rule “without delay” to close “loopholes” not currently protected by regulation. A renewed call from the Financial Action Task Force has asked countries to implement the “Travel Rule” to combat money laundering and terrorism financing activities enabled by cryptocurrencies. On June 23,…
Read more

Zondacrypto CEO: MiCA Regulations Will Stop ‘Rogue Exchanges’ From Profiting From Criminal Activity

May 26, 2023

Although the implementation of the recently approved Markets in Crypto Assets (MiCA) regulations is likely to be difficult, their coming into force is going to have a positive outcome for everyone in the industry, Przemyslaw Kral, the CEO of the crypto exchange Zondacrypto, has said. Kral also argued that the implementation of these regulations will…
Read more

FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers

April 1, 2023

FTX’s European subsidiary, FTX Europe, has launched a new website, ftxeurope.eu, for users to withdraw funds from the now-defunct cryptocurrency platform. Withdrawal requests must be submitted through the new website and will be “subject to customary know-your-customer and anti-money-laundering checks.” FTX’s European Arm Opens Withdrawals to Customers According to a press release published on Friday,…
Read more

From Bat-Signal to Bitcoin: Projecting ‘Orange Pill’ on banks as EU drives crypto regulation

March 30, 2023

The Bitcoin logo lights up on the European Central Bank building in Frankfurt as Bitcoiners urge bankers to ‘study Bitcoin.’ “The signal goes on, and he shows up. That’s the way it’s been. That’s the way it will be.” Whenever Gotham faces an existential threat, the Bat-Signal lights up the night sky. In the DC Comics…
Read more

Aussie crypto exchange hints interest in Hong Kong base

March 23, 2023

The CEO of Independent Reserve says Hong Kong’s “friendly” licensing regime makes it a worthy destination to set up shop, but there are other factors to consider. Australia-based crypto exchange Independent Reserve is looking at opportunities to set up shop in Hong Kong as the city continues efforts to become a cryptocurrency hub. Set to…
Read more

Category: Anti-Money Laundering