AML News

Cryptocurrency exchange BitMEX has pleaded guilty to violating the Bank Secrecy Act. According to Attorney Damian Williams, BitMEX intentionally failed to “establish, implement, and maintain an adequate anti-money laundering (AML) program.” He explained that BitMEX, founded in 2014, had a…

Speaking with crypto.news, James Toledano, Chief Operating Officer at Savl, delved into money laundering and how tainted assets are putting crypto users at risk. Cryptocurrencies are increasingly becoming a tool that is being exploited for money laundering. The anonymity and…

Binance has been hit with a $2.25 million fine in India for operating in the country in violation of local anti-money laundering rules. India’s Financial Intelligence Unit (FIU) imposed a multi-million fine on Binance as the cryptocurrency exchange failed to…

Prime brokerage firm Hidden Roads is set to stop offering its clients access to the Bybit crypto platform due to a disagreement over the exchange’s KYC/AML procedures. International prime broker Hidden Road is reportedly preparing to halt trading for its…

The UK Treasury presented a report on the department's work over the past two years, highlighting the risks associated with crypto.

The real potential of cryptocurrencies heavily depends on integration with traditional finance, which in turn requires a well-developed and clever regulatory approach.

Cryptocurrency exchange Binance is tightening its KYC requirements for business clients.

The Nigerian securities regulatory authority has introduced new guidelines for crypto service providers.

A WSJ piece originally contained damning paragraphs implicating Harborne and AML Global, but those sections were later excised in an apparent acknowledgment of potential inaccuracies.

Blockchain Association, an organization representing the interests of the crypto industry, sent a letter to the U.S. Congress criticizing Senator Elizabeth Warren’s AML bill. The Blockchain Association’s recent appeal, dated Feb. 13, features 80 notable signatories, among them former government…

Chinese authorities are significantly preparing to amend their anti-money laundering (AML) regulations. According to regional media reports, Beijing is set to amend its anti-AML rules to include cryptocurrency-related transactions amid calls for greater scrutiny of the nascent crypto industry from…

18 U.S. senators, including Cynthia Lummis and Ted Cruz, actively support the cryptocurrency sector. According to the advocacy group Stand with Crypto Alliance, created with the support of the Coinbase exchange, the leader among legislators in the number of initiatives…

The South Korean authorities plan to strengthen control over cryptocurrency mixers following the United States. On Jan. 15, local media in South Korea reported that the Financial Intelligence Unit (FIU) of the Financial Services Commission was considering introducing virtual asset…

According to data, crypto and digital payments companies paid nearly $6 billion in fines in 2023 for shortcomings in customer checks and anti-money laundering controls violations. Crypto and fintech groups faced fines exceeding those of the entire traditional financial system…

According to a Nov. 15 update, Bitnovo, the non-custodial crypto asset service provider that was founded in 2014 in Spain, has been registered as a digital asset provider (PSAN).

During the House Subcommittee on Digital Assets, Financial Technology, and Inclusion hearing held on Nov. 15, Alison Jimenez, an economist and president of Dynamic Securities Analytics, Inc., provided insights into the context of crypto crime, breaking down illicit activities in the realm of digital assets.