U.S. federal prosecutors charged crypto exchange KuCoin and two of its founders with violating anti-money laundering laws on Tuesday, saying the exchange operated in the U.S., lied to at least one of its investors about operating in the U.S. and failed to both register with U.S. government entities and maintain an anti-money laundering program.
It’s Time to Scrap AML/KYC Entirely
Frankfurt to Host New EU Money Laundering Watchdog Tasked With Monitoring Crypto
The Anti-Money Laundering Authority is part of a broader effort by the European Union to combat illicit fund flows, and is ready to begin work as early as Friday, officials said Thursday.
Digital Asset Platform Web3Intelligence Raises $4.5M Ahead of New Token Rollout
The private funding round included participation from DAO MAKER, Shima Capital, and Gate.io among other investors.
Crypto Industry Cautiously Welcomes Agreement on New EU AML Rules
Customer due diligence requirements for crypto firms may be more stringent than for banks, policy watchers told CoinDesk.
EU Provisionally Agrees Tough Crypto Due Diligence Measures to Combat Money Laundering
Crypto firms have to do checks on transactions of 1000 euro or more, and the framework adds measures to mitigate risks in transfers with self-hosted wallets.
EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms
The European Banking Authority issued new guidance for crypto firms that will come into effect on Dec. 30, 2024.
Warren’s Crypto Bill Is Likely Unconstitutional. It’s Also Unlikely to Pass
Democratic lawmakers signed on to sponsor the Digital Asset Anti-Money Laundering Act. The bill is bad for crypto in the U.S., even if it never gets through Congress.
Warren’s Crypto Bill Is Likely Unconstitutional. It’s Also Unlikely to Pass
Democratic lawmakers signed on to sponsor the Digital Asset Anti-Money Laundering Act. The bill is bad for crypto in the U.S., even if it never gets through Congress.
Kucoin agrees to ban New York residents and pay $22 million in settlement
Kucoin users from New York will lose the ability to trade within 30 days and will have their accounts closed within 120 days.
More US senators back Elizabeth Warren’s AML bill targeting crypto
The legislation, reintroduced in July, already has the support of several U.S. lawmakers, but critics have suggested it could threaten financial freedom and privacy.
Crypto Provisions Dropped From 2023 U.S. Defense Bill
The military-linked bill is viewed as must-pass legislation, so lawmakers sometimes try to tack on other things to get them passed, too.
CZ cites Star Trek to Binance staff: ‘l need everyone to continue performing admirably’
Former Binance CEO CZ sent a letter to employees after he stepped down, assuring employees the company would be fine, and quoting a famous Star Trek line as he closed.
US regulators continue to discuss crypto: Law Decoded, Nov. 13–20
Elizabeth Warren continues pressing for tighter regulation, and Vivek Ramaswamy promises to defend crypto from the government’s overreach if elected.
U.S. FSC to discuss illicit activity in crypto at upcoming hearing
Discussions around illicit activity, such as money laundering and terror financing, will take center stage at the Financial Services Committee hearing.
Sen. Warren, 100+ legislators write White House, Treasury about crypto and terrorism
The letter was signed by crypto opponents and many lawmakers who had been neutral on crypto until now.
THORSwap, Used by FTX Exploiter, Resumes Trading After Updating Terms to Exclude U.S.-Sanctioned Countries
THORSwap, the exchange that paused its platform last Friday following a series of trades related to the FTX hack, resumed its services on Friday with updated terms and conditions relating to users in sanctioned countries.
Cyprus to tighten crypto regulations in accordance with FATF
The Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering Law.
UK crypto businesses to comply with FATF Travel Rule beginning in September
The U.K. passed legislation in 2022 to make it one of the few countries in compliance with the extension of the Travel Rule to crypto.
Binance applies for Taiwan AML compliance: Report
The world’s leading crypto exchange by trading volume has reportedly applied to register in Taiwan under the new AML compliance.