All Binance users are now subject to immediate KYC verification
The crypto exchange will limit services for existing users unless they adhere to the new KYC and AML requirements Go to Source Powered by WPeMatico
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Former US Treasury official joins Binance to lead AML efforts
Former IRS supervisor Greg Monahan replaces Karen Leong as the global money laundering reporting officer of Binance. Go to Source Powered by WPeMatico
Singapore grants first regulatory in-principle approval to crypto exchange
Independent Reserve gets the first in-principle approval that gives hope to around 170 crypto exchange applicants waiting to receive an official operating license in Singapore. Go to Source Powered by WPeMatico
DeFi cannot be fully regulated, Siam Commercial Bank president says
Dr. Arak Sutivong, CEO of SCB 10X, believes DeFi requires a framework for long-term and sustainable interactions with traditional finance. Go to Source Powered by WPeMatico
Irish Banks Hail EU’s ‘Radical’ Anti-Money Laundering Push
Banks in Ireland have welcomed an upcoming reform of the European Union’s anti-money laundering regulations that will affect the crypto space. The Irish banking industry organization voiced support for the changes aimed at disrupting illicit transactions at the union level while calling them “radical.” New AML Body to Weed Out Suspicious Transactions in the EU, … Read more
Ukraine Unveils Roadmap to Integrate Cryptocurrencies by 2024
Government and business representatives have produced a roadmap to transform Ukraine into a leader in cryptocurrency integration. The authors of the new strategy want to see half of Ukrainians using digital currencies by 2024. The East European nation is expected to regulate its crypto space by the end of this year. Strategy for Crypto Market … Read more
OK Group to help China combat money laundering with blockchain
OK Group will start working with Chinese authorities to combat money laundering using distributed ledger technology. Go to Source Powered by WPeMatico
AML compliance mandatory for foreign crypto exchanges, says Korean regulator
South Korea’s strict crypto regulatory oversight is now extending to overseas exchanges that offer cryptocurrency trading services denominated in the country’s currency. Go to Source Powered by WPeMatico
UN commission serves new warning against BTC adoption in El Salvador
ECLAC executive secretary stressed that there is no study yet that would have investigated potential risks or benefits of El Salvador accepting BTC as legal tender. Go to Source Powered by WPeMatico
DoJ’s crypto czar joins FinCEN in brand-new role: Why it matters
Michele Korver’s appointment to the U.S. Financial Crimes Enforcement Network promises to reduce illicit financial practices within the crypto space. Go to Source Powered by WPeMatico