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Binance Failed to Deliver on Money Laundering Prevention Promises: Report
11.7.2022
The world's largest crypto exchange by value traded has been loose on its prevention of money laundering, Reuters reported
Hong Kong to Introduce Licensing for Crypto Platforms Through AML Law
10.7.2022
New legislation tailored to regulate the crypto space in Hong Kong aims to implement a licensing regime for crypto service providers. The respective changes to the region’s anti-money laundering (AML) rules have been submitted to its legislature while a recently published report examines...
Report: Nigerian Fintech Giant Flutterwave Accused of Laundering Money, More Than 50 Bank Accounts Frozen
8.7.2022
A Kenyan agency charged with tracing and freezing proceeds of crime said it recently obtained an order giving it the authority to freeze bank accounts belonging to Nigerian fintech Flutterwave. The agency alleges that Flutterwave is not providing merchant services as per claims, but is instead...
EU Lawmakers Want Anti-Money Laundering Rules To Cover NFTs
5.7.2022
With the European Union advancing work on new regulations that could exert a significant impact on the crypto industry, a group of members of the European Parliament have proposed an amendment to the bloc’s anti-money laundering (AML) legislation that would cover non-fungible token (NFT) trading...
NFT Platforms Should Be Caught by EU Money-Laundering Overhaul, Lawmakers Say
4.7.2022
Unhosted wallets and decentralized finance were left largely unscathed by two landmark crypto laws agreed to last week, but left-wing lawmakers may seek another go as they discuss dirty-money rules
EU Makes Deal on MiCA Legislation to Regulate Crypto Markets
2.7.2022
Representatives of key European Union (EU) institutions and member states reached an agreement on the Markets in Crypto Assets regulatory proposal. The progress in the negotiations over the comprehensive legal framework for the Union’s crypto space comes after earlier this week European...
Global Anti-Money Laundering Watchdog Presses Countries, Crypto Exchanges to Implement Key Requirement Faster
1.7.2022
The Financial Action Task Force (FATF) is intensifying its pressure on virtual asset service providers (VASPs) and countries to accelerate the implementation of its rules on digital assets, as only a quarter of responding jurisdictions are currently making efforts to pass legislation to implement...
EU Agreement Reached on Anti-money Laundering Rules for Cryptocurrencies
30.6.2022
European institutions have reached an interim consensus on a set of EU regulations that will burden crypto companies with the obligation to help prevent money laundering, among other illicit activities potentially involving digital assets. The progress comes as the Union seeks to comprehensively...
EU Finalizes Crypto Money Laundering Rules
29.6.2022
A Wednesday meeting secured a final deal on anti-money laundering legislation for crypto transfers which the industry warns could prove harmful for innovation and privacy
Report: Morocco’s Central Bank to Unveil Crypto Regulation Bill Soon
27.6.2022
The Moroccan central bank is presently working on a cryptocurrency regulation framework bill and according to the bank’s governor, Abdellatif Jouahri, this is set to be introduced soon. The regulatory framework being worked on will result in Morocco’s money laundering...
President of Panama Partially Vetoes Crypto Law Passed by National Assembly
18.6.2022
Laurentino Cortizo, president of Panama, has exercised his veto powers to make a series of objections to the recently approved cryptocurrency law. The observations of the president only touch on certain articles and do not affect the law in its entire scope. However, these articles of the bill will...
BitMEX co-founder Benjamin Delo avoids jail, receives 30 months probation
16.6.2022
Delo was allowed to leave the country to travel to Hong Kong where he is a resident, bringing to a close his part in the legal saga which began in 2020
Ethiopian Central Bank Urges Residents to Stop Engaging in Crypto Transactions
8.6.2022
The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the local birr currency is the only lawful means of settling transactions in Ethiopia. Illegal Transactions The Ethiopian...
Binance fires back at Reuters’ money laundering allegations
7.6.2022
Binance wrote that the allegations made by the media outlet are created by interested parties to “mislead the general public.”
Binance Refutes 'Skewed' Money Laundering Claims
7.6.2022
Binance, the largest cryptocurrency exchange by trade volume, has hit back at reports associating it with criminality and money laundering
International Monetary Fund to Assist El Salvador in Compiling Bitcoin Adoption Statistics
23.5.2022
The International Monetary Fund has mentioned it is providing technical assistance to the government of El Salvador in various ways. According to Gerry Rice, a spokesperson for the organization, the group is having talks with people of the Salvadoran government about tax and money laundering...
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