Search Results for "aml"
UK FCA Regulator Proposes Mandatory AML Data Reports from Cryptocurrency Firms
The United Kingdom’s Financial Conduct Authority (FCA) has proposed obligatory AML reporting requirements for crypto exchanges.
KYC on Exchanges Powerless Against PlusToken Ponzi Scammers According to New Report
The PlusToken Ponzi scheme operators are using regulated KYC compliant exchanges to dump their cryptocurrency according to an updated report by investigative firm OXT Research.
Hong Kong to Release Cryptocurrency Exchange Licensing Guidelines
The Hong Kong Securities Futures Commission (SFC) plans to release guidelines for cryptocurrency exchange licensing next month, in support of trading services to retail investors by June 1. AML/KYC regulatory requirements were key considerations in the consultation process. Some trading platforms have already received licenses, while others have chosen to cease operations.
Thailand to Implement In-Person KYC Step for Crypto Exchanges
Thailand has introduced a new method of verifying clients’ identities for crypto exchanges.
French-Austrian Collaboration on Blockchain Forensics Instrument to Enhance Cryptocurrency AML
The French cybersecurity firm Nigma Conseil and the Austrian Institute of Technology (AIT) have announced a partnership aimed to create a new blockchain forensics instrument.
AML BitCoin Lobbyist Abramoff to Pay $55K in Convicted Guilt Plea for ICO Fraud
In the civil case filed against Jack Abramoff for his role in the 2018 Initial Coin Offering (ICO) scandal, the AML BitCoin lobbyist is expected to pay $55, 000 in disgorgement and interest for his conspiracy in fraud.
Polygon MATIC Launches Solution Provider Network (SPN) for Seamless Developer Collaboration
Polygon has launched the Solution Provider Network (SPN) to facilitate real-time connections between developers and essential infrastructure like oracles, bridges, RPC providers, and wallets, enhancing visibility and credibility within the Polygon ecosystem.
Elliptic to Provide AML Services to Zilliqa’s Blockchain Network
Elliptic, a London-based blockchain analytics startup, has partnered with Zilliqa, a Singapore-based blockchain network provider, to propel the infrastructure compliance and security of the latter’s network by offering an anti-money laundering (AML) compliance support.
Estonia Shuts Down Crypto Firms
Nearly 400 virtual asset service providers (VASPs) have shut down in Estonia due to enhanced Anti-Money Laundering laws. The Financial Intelligence Unit (FIU) revoked the authorizations of almost 190 firms for non-compliance. The remaining 100 active crypto firms had issues with misleading company information, including falsified professional backgrounds and copied business plans.
HKEX Introduces Synapse: A New Settlement Acceleration Platform for Stock Connect
Hong Kong Exchanges and Clearing Limited (HKEX) announces the launch of HKEX Synapse, a settlement acceleration platform designed to improve market efficiency and transparency for Northbound Stock Connect participants. The platform, set to launch on October 9, 2023, will employ DAML smart contracts to streamline post-trade operations. The move aims to enhance real-time data synchronization and scalability for asset managers, brokers, and other market participants.
Crypto Exchange BKEX Halts Withdrawals Amid Money Laundering Investigation
In a surprise announcement on May 29, 2023, BKEX, one of the major cryptocurrency exchanges, has temporarily suspended user withdrawals due to alleged involvement in money laundering activities.
India's Crackdown on Crypto Exchanges: Binance, Kraken, Mexc, and Kucoin Delisted from App Store
India's FIU removes apps of major crypto exchanges, including Binance and Kraken, from the App Store, enforcing compliance with anti-money laundering laws amid new crypto tax policies.