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Arthur Hayes to serve 2-year probation owning up to BitMEX’s AML mishap
21.5.2022
Despite the imminent possibility of serving jail time, proactively owning up to the allegations resulted in Hayes being sentenced to six months of house arrest and two years of probation
Panama President Mulls Crypto Bill Approval Due to Money Laundering Concerns
19.5.2022
The president of Panama, Laurentino Cortizo, has declared he will not sign the recently approved cryptocurrency bill passed by the National Assembly of the country in its current form. Cortizo stated that one of his main concerns about the bill is the stance it takes regarding money laundering...
European Commission Has ‘Serious Doubts’ About Markets in Crypto Assets Draft, Report Reveals
13.5.2022
The European Commission disagrees with some provisions in the crypto regulatory proposal approved recently by the European Parliament. The executive arm in Brussels is unhappy with certain anti-money laundering measures, according to a media report quoting unofficial correspondence. European...
Industry experts weigh in on SEC hiring more crypto cops
11.5.2022
The SEC's decision to expand its digital assets section was well received by industry experts and came as no surprise, given the growing interest in cryptocurrencies
US Court Fines Bitmex’s Founders $30 Million for Operating Illegal Crypto Platform
7.5.2022
The founders of Bitmex have been ordered to pay $30 million “for illegally operating a cryptocurrency derivatives trading platform and anti-money laundering violations.” Arthur Hayes, Benjamin Delo, and Samuel Reed must pay $10 million each. Bitmex’s Founders Fined $30 Million...
How STACKD Finance Services Make DeFi Safer for Everyone
5.5.2022
Decentralized Finance (DeFi) represents the financial, blockchain-based world of tomorrow. Future generations will leave the traditional financial system behind and use dApps, tokens, and other digital innovations for economic purposes. However, DeFi is still in its infant stage, leaving room...
European watchdog lists crypto next to lawyers, accountants as an AML threat
4.5.2022
The annual supervision report from MONEYVAL concluded that 18 of the 22 jurisdictions have an insufficient level of compliance with AML standards
Council of Europe Calls for Crypto Laundering Clampdown
4.5.2022
The chair of the council's Moneyval committee warned of fraud, tax evasion and market manipulation taking place using virtual assets
Report: Nigerian Trio Allegedly Uses Money Laundering Proceeds to Buy Bitcoins Worth Over $43 Million
2.5.2022
Three Nigerian nationals are accused of using money laundering proceeds to buy bitcoin worth over $43 million from cryptocurrency exchange platforms like Binance and Busha. The trio is accused of moving an equivalent of over $215 million from Nigeria to Kenya between October and November 2020....
EU Crypto Laundering Plans Could Overwhelm Authorities, Bank Regulator Says
27.4.2022
Officials urged lawmakers to think again as they approach the last stage of privacy-busting proposals
OCC issues order against Anchorage Digital over AML compliance
22.4.2022
The bank hinted that the OCC’s actions might help establish a regulatory precedent that could encourage other firms in the space to set up federally regulated digital asset banks
AUSTRAC releases 2 new guides to help spot illicit crypto use
21.4.2022
AUSTRAC also urged financial institutions from debanking clients who may be engaged in suspicious account activity, as a mistake could be costly to “Australia’s economy.”
EU Crypto Firms Protest ‘Alarming’ Anti-Money Laundering Laws
19.4.2022
European industry is joining forces as it seeks to limit the impact of new proposals to cut the privacy of online payments and regulate stablecoins
Nearly Half of Jurisdictions Still Not Applying Crypto Laundering Norms, Global Regulator Says
19.4.2022
The Financial Action Task Force has vowed to toughen its monitoring, though some fear customer identification rules could harm online privacy
Indian minister wants global crypto rules to curtail money laundering risk
19.4.2022
India is yet to finalize a crypto regulatory framework despite assurances of a speedy draft law over the past few years
What are wash trading and money laundering in NFTs?
18.4.2022
The simultaneous purchase and sale of crypto assets is called wash trading. Read this guide to understand the purpose of a wash trade
Sanctioned Crypto Wallet Linked to North Korean Hackers Keeps On Laundering
15.4.2022
It's a game of wallet whack-a-mole despite Tornado Cash’s efforts. For now, the hackers appear to be winning
Bank of Spain Reminds Public Cryptocurrency Purchases Can Be Blocked in Certain Cases
11.4.2022
The Spanish central bank, Bank of Spain, has warned users about certain actions banks can take if they detect cryptocurrency purchases. In a post published on its web page, the institution explains that traditional banks have the ability to block these transactions if they suspect there...
Unhosted is unwelcome: EU’s attack on noncustodial wallets is part of a larger trend
6.4.2022
Regulators on both sides of the Atlantic seem to be nervous about people transacting with their wallets
Colombian Money Laundering Watchdog Postpones Crypto Transaction Reporting Resolution
5.4.2022
The UIAF, which is the Colombian money laundering watchdog, has postponed the date on which exchanges and individuals must start reporting their transactions to the organization. The institution will now open a consulting period in which companies and individuals can present their thoughts...