Binance founder CZ walks free from US prison
He served four-months in federal prison for charges including alleged violations of US anti-money laundering (AML) rules. Go to Source
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Sweden sees crypto exchanges as professional money launderers
Swedish authorities label certain cryptocurrency exchanges as key enablers of organized crime, highlighting four distinct money-laundering profiles. Go to Source
FATF Urges India to Strengthen Virtual Asset Regulation
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
Chinese gov’t mulls anti-money laundering law to ‘monitor’ new fintech
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
FCA Files First Charges Against Unregistered Crypto ATM Operator in UK
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs in the country. This case is significant as it represents the first prosecution under UK law for such activities. Osunkoya is accused of running a network of crypto ATMs that processed £2.6 million in transactions without registration, violating anti-money laundering … Read more
India’s FIU Considers Approving More Offshore Crypto Exchanges
India’s Financial Intelligence Unit is reportedly reviewing four offshore cryptocurrency exchanges for potential approval to resume operations following the lifting of bans on Binance and Kucoin. The focus is on ensuring compliance with anti-money laundering regulations, including transaction transparency and reporting of suspicious activity. FIU-India May Permit More Offshore Crypto Exchanges Next Year India’s Financial … Read more
Fed hits Texas bank with cease and desist over servicing crypto firms
The US Federal Reserve said it identified “significant deficiencies” in the bank’s dealings with crypto clients and its risk management procedures. Go to Source
Binance’s return to India comes with $86M tax demand
While Indian AML agencies have given Binance the green light to resume operations, authorities are still seeking $86 million in tax liabilities from the firm. Go to Source
Seychelles Approves Bill on Virtual Asset Regulation
The Seychelles National Assembly has approved a draft bill to regulate virtual asset service providers (VASPs). The bill requires license-seeking VASPs to establish a substantial presence in Seychelles, such as having a resident director and an office with competent staff. The law aims to balance innovation with anti-money laundering efforts, adhering to Financial Action Task … Read more
Moody’s, Elliptic join forces for enhanced VASP risk screening
The companies will combine their strengths to provide enhanced virtual asset service providers screening ability. Go to Source
