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Bad for Business: How KYC/AML Makes Everyone a ‘Terrorist’
22.10.2019
Two reports from risk solutions group Lexisnexis assert that anti-money laundering (AML) and know your customer (KYC) policies can negatively affect a business’s bottom line and customer service significantly. A recent trip to the local post office for a money order certainly had a negative...
Anti-Money Laundering Laws Apply to Crypto Too, Says FinCEN Chief
22.10.2019
The director of FinCEN says that Anti-Money Laundering laws apply to everyone, including firms offering anonymous cryptocurrency services
FATF Joins BIS In Calling Stablecoins ‘Global Risk,’ Citing Money Laundering Concerns
18.10.2019
Stablecoins pose a money laundering and terrorist financing risk to the world, the FATF said Friday
FATF Raises Money Laundering Concerns Over Libra and Stablecoins
18.10.2019
FATF joins other authorities voicing concerns about Facebook’s Libra
Rare Joint Statement From U.S. Regulators Proves Crypto Centralization Is Here
17.10.2019
The U.S. SEC, Fincen and CFTC issued a rare joint statement Friday addressing regulation of “activities involving digital assets.” Citing crypto’s perceived role in money laundering and terrorism, the regulatory power trio prescribed stricter adherence to anti-money laundering...
How Anti-Money-Laundering Rules Hinder Libra’s Mission to Reach the Unbanked
9.10.2019
A "step-ladder" approach to know-your-customer (KYC) rules could help the Libra stablecoin reach those disconnected from the financial system
No Victim, No Crime: How the Darknet Drug War Is Ruining Young Lives
2.10.2019
There aren’t many areas of modern society unaffected by the draconian war on drugs, and non-violent crypto exchange is no exception. Two San Diego men in their twenties reportedly pleaded guilty on Monday to charges of money laundering conspiracy, for selling cannabis on the darknet...
BitShares DEX Gateway CryptoBridge Implements Mandatory KYC for Users
2.10.2019
BitShares decentralized exchange gateway CryptoBridge announces mandatory user identity verification
Attorneys Seek Bank of Ireland Execs’ Testimony Against OneCoin Scammer
30.9.2019
U.S. attorneys have submitted a motion seeking testimony from former Bank of Ireland execs in the case of a OneCoin cryptocurrency scammer
Traders Bemoan New Localbitcoins Identity Requirements
28.9.2019
Recent data shows that countries with corrupt governments have a strong correlation with Localbitcoins trade volumes. However, even though the over-the-counter (OTC) marketplace Localbitcoins has grown massive over the years, traders are complaining about heightened know-your-customer/anti-money...
ABN AMRO in Money-Laundering Scandal After Calling Bitcoin ‘Risky’
26.9.2019
Dutch bank ABN AMRO finds itself in the midst of a major alleged money laundering scandal, having leveled criticisms at “unregulated cryptocurrencies” earlier this year
Upbit Delists Privacy Coins, in an attempt to Alleviate Money Laundering
21.9.2019
Upbit, a cryptocurrency exchange based out in Korea has revealed its plans to stop supporting trade in 5 cryptocurrencies, that includes some major privacy coins, announced in a notice that was made public on September 20th. Upbit said that the exchange is to delist and stop trading in Monero...
Upbit Exchange Delists Privacy Coins Due to Money Laundering Concerns
21.9.2019
South Korean cryptocurrency exchange Upbit announced that it will cease trading support for certain privacy coins on Sept. 30
$800 Bitcoin Buys $10,000 Cash on Dark Web, Turn-Key Money Laundering
13.9.2019
Criminal buyers can buy $10,000 for $800 in Bitcoin in a clever turn-key money laundering service, security researchers claim
Netherlands May Block Foreign Crypto Firms Under Anti-Money Laundering Laws
11.9.2019
The current crypto legislation before the Dutch Parliament not only mandates domestic companies register with the central bank but that foreign entities will not be allowed to conduct services within the country
Libra Must Comply with Anti-Money Laundering Standards: US Treasury
10.9.2019
Facebook’s Libra stablecoin must meet the highest Anti-Money Laundering and terrorism financing norms, according to a United States Treasury official
Crypto, Cash and Drugs: Crypto Use Grows as Drug Trade Digitalizes
8.9.2019
Learn how cryptocurrency is impacting the global drug trade in Cointelegraph's new article
U.S. Congressional Probe Identifies Possible Gaps in Deutsche Bank’s Money Laundering Controls
6.9.2019
A decade or so ago, German banking giant Deutsche Bank AG was counted among the biggest banks in the world, but the financial crisis of 2008 hit the bank hard. Since the financial crisis, the bank has struggled to put its business into top gear again, and now it is faced with a legal issue...
Dutch Central Bank Prepares to Start Regulating Crypto Sector
4.9.2019
The central bank of the Netherlands is preparing to supervise the country’s crypto sector. The bank has requested crypto exchanges and wallet providers to come forward and submit some information. Once the law takes effect, these operators will be required to register with the central bank...
‘We’re Going to Find You’ – How Undercover Agents Trade Prison Time for Bitcoins
2.9.2019
An Australian national living in Boulder, Colorado was slammed with a one year and a day prison sentence last month for trading bitcoins. An August 23 statement from the Colorado U.S. District Attorney’s Office states that Emilio Testa, 32, was charged with money laundering, and claims Testa...