The turbulent UK cryptocurrency landscape sees the Financial Conduct Authority report that 87% of crypto registration applications failed in the last fiscal year. This is a staggering fact that brings…
The public prosecutor and supreme court of China have updated the provisions of the nation’s anti-money laundering (AML) legislation to include the recognition of crypto transactions for the first time.…
In the past several years, the global crypto Anti-Money Laundering (AML) compliance solutions market has grown remarkably, reaching $686.89 million in 2023. As Verified Market Research reports, this sector is…
The world’s biggest crypto exchange, Binance, is now registered with India’s Financial Intelligence Unit (FIU-IND). This would be one major move for Binance, eyeing a fresh attempt at establishing operations…
Paxful’s co-founder and former chief technology officer (CTO), Artur Schaback, pleaded guilty to conspiracy to deliberately fail in establishing, developing, implementing, and maintaining a compliant AML program as required by…
Changpeng Zhao, the ousted CEO of cryptocurrency exchange giant Binance, walked away from court this week with a sentence many see as a slap on the wrist. Zhao, better known…
The European Parliament adopted a new AML law package which increases the reporting requirements of crypto asset service providers (CASPs) when sending and receiving ‘anonymous’ payments between self-hosted wallets and…
The cornerstone of the modern approach to money laundering is to prevent illicit funds from entering the financial system. The rationale is understandable: if criminals won’t be able to use…
For the past decade, the abbreviations AML and KYC have become an inextricable part of our lives. To help law enforcement track illegal funds, an increasingly constraining set of anti-money-laundering…
The UK Treasury has released a consultation paper detailing proposed changes to anti-money laundering regulations. The proposed changes suggest bringing all crypto asset service providers under the oversight of the…
