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South Korea’s financial regulator says it is taking steps to combat money laundering and other financial crimes involving virtual assets. Virtual Assets and Financial Crime The head of South Korea‘s financial services industry regulator recently vowed to crack down on those who use virtual assets for money laundering. Speaking at Anti-Money Laundering Day, Kim Byung-hwan, … Read more
Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with Upbit’s business license renewal. Go to Source
New York’s financial regulator has a job opening for a Virtual Currency Senior Blockchain Analytics Analyst. The permanent position focuses on preventing financial crimes such as money laundering and fraud by ensuring compliance in the growing virtual currency sector. The role involves using blockchain analytics to monitor risks. Applications are due by Oct. 14. New … Read more
Crypto exchange Kraken has announced the delisting of Monero in the European Economic Area to maintain compliance with EU regulations. Go to Source
Crypto exchange Binance has achieved a significant milestone by joining Argentina’s Virtual Asset Service Providers Registry, marking its 20th global regulatory achievement. This allows Binance to expand its full range of services to Argentina-based users, further embedding itself in the country’s cryptocurrency market. Binance Joins Argentina’s Crypto Registry, Strengthens Global Compliance Crypto exchange Binance announced … Read more
Binance founder and former CEO Changpeng “CZ” Zhao is the wealthiest person to serve jail time in the US, with current net worth estimated more than $60 billion. Go to Source
He served four-months in federal prison for charges including alleged violations of US anti-money laundering (AML) rules. Go to Source
Swedish authorities label certain cryptocurrency exchanges as key enablers of organized crime, highlighting four distinct money-laundering profiles. Go to Source
India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised India’s progress but pointed out areas needing improvement, especially in regulating the non-financial sector and virtual asset providers. The country was … Read more
According to the Chinese government, 1,391 individuals have been prosecuted on money laundering-related charges in the first half of 2024. Go to Source
