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Top 10 US Retail Banks Unknowingly Serve Crypto Startups, CipherTrace Claims
16.12.2019
CipherTrace revealed research Monday showing that the top 10 retail banks by assets managed in the U.S. worked with unregistered crypto money services businesses by transmitting funds on their payment networks
Major Banks Unknowingly Process Billions in Crypto Business, Says CipherTrace
16.12.2019
According to CipherTrace, major U.S. banks unwittingly process billions of dollars from crypto-related business because they are ill-equipped to identify virtual asset service providers
After BottlePay, Two More Crypto Firms Shut Down Due to Upcoming EU Rules
16.12.2019
Two EU-based crypto firms are shutting down because of the upcoming EU Anti-Money Laundering rules
European AML Directive Pushes Crypto Startup Bottle Pay Out of Business
15.12.2019
Bottle Pay, a cryptocurrency payments provider from the U.K., has announced its decision to cease operations by the end of the year. Despite attracting some serious funding and expanding its user base significantly in the past few months, the company has found it unacceptable to continue to work...
Monero Compliance Workgroup Says XMR Exempt From Funds Travel Rule
14.12.2019
Monero deems compliance to be the responsibility of exchanges, not cryptocurrencies
Chainalysis to Provide Bitfinex With ‘Privacy-Safe’ Tools to Combat Crime
13.12.2019
Blockchain intelligence firm Chainalysis will provide crypto exchange Bitfinex with tools to monitor and combat suspected financial crime
Bitfinex Partners With Chainalysis to Deploy AML Solutions
13.12.2019
Chainalysis has activated a partnership with Bitfinex exchange to provide its anti-money laundering (AML) solutions across the Bitfinex platform. Chainalysis is a New York-based startup that monitors illegal activities on blockchain networks and provides a secured compliance solution. Bitfinex...
Here’s a New Banking Tool for Vetting Crypto Exchanges
11.12.2019
The blockchain forensics firm is now offering banks a product that aims to provide up-to-date risk profiles of more than 200 of the largest crypto exchanges around the world
JP Morgan Will Launch IIN Network in Japan to Address AML Issues
11.12.2019
Multinational investment bank JP Morgan is all set to launch its blockchain-powered payment system in Japan. The network, which is christened as Interbank Information Network (IIN), will see the launch early next year. The network will address the issuance of data among other bank networks and will...
Blockchain Makes Money Laundering Risks Greater, Says Swiss Regulator
11.12.2019
The Swiss Financial Market Supervisory Authority warned that blockchain exacerbates the country’s money laundering risks
FinCEN Director Notes Improved Oversight of Cryptocurrency Industry
11.12.2019
FinCEN’s director says increased adoption of reporting guidelines for crypto businesses has led to an uptick in the number of suspicious activity reports filed
FinCEN Sees Jump in Crypto-Related Suspicious Activity Reports
11.12.2019
Crypto companies have filed 7,100 Suspicious Activity Reports since May, America’s anti-money-laundering chief said at a banking conference Tuesday
JPMorgan’s Blockchain Network to Launch in Japan in Early 2020: Report
10.12.2019
JPMorgan’s blockchain-based payment network, the Interbank Information Network, will reportedly launch in Japan in early 2020
New Ukrainian Law Says ‘Virtual Assets’ Can Be Used for Payments
9.12.2019
The Verkhovna Rada, Ukraine’s legislature, has approved amendments that introduce legal terms and definitions pertaining to the crypto space. The new legislation, which aims to transpose the FATF standards into national law, also identifies who is to take responsibility for the oversight...
Mnuchin ‘Fine’ With Libra Launch, But Crypto Project Must ‘Fully’ Comply With AML Rules
6.12.2019
Steven Mnuchin, secretary of the U.S. Treasury, has no issue with the launch of the Facebook-led Libra project – as long as financial rules are followed to the letter
Criminal Activity in Crypto: The Fact, the Fiction and the Context
30.11.2019
$400 million in XRP is used in illicit activity, how does this stack up against fiat fraud, and is the reputation of the crypto industry beyond saving?
European AML Regulations Follow the US Path With a Six-Years' Delay
30.11.2019
The EU’s AML legislation is following the U.S.’s path but with significant delays for the emerging tech industry
Coinbase Patents AI Compliance System to Monitor and Flag Accounts
29.11.2019
Popular U.S. cryptocurrency exchange Coinbase received a patent November 19, for an AI-driven compliance system which would monitor customer accounts, flagging those deemed non-compliant and recategorizing them for corrective action. Described as a “compliance determination and enforcement...
A Third of Crypto Exchanges Have Little or No KYC, Says CipherTrace
28.11.2019
Around one third of the top 120 exchanges are "weak" when it comes to know-your-customer (KYC) verification, while two-thirds "lack strong KYC policies," the firm said
Report: Crypto-Related Fraud and Theft Resulted in $4.4B Loss in 2019
27.11.2019
According to CipherTrace’s latest report, the total volume of crypto-related fraud and theft resulted in losses worth $4.4 billion in 2019