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In times of mounting pressure on crypto companies to comply with expanding due diligence requirements, Poloniex has taken a step in the opposite direction. The exchange is lifting restrictions that applied to unverified users in response to customer demand. New and current accounts will enjoy access to unlimited trading and deposits. Also read: P2P Crypto … Read more
With stricter new regulations on the horizon for the crypto space around the world, Australians have found that it’s actually their traditional financial institutions that have been breaching well-established anti-money laundering rules and other industry standards this year. Westpac, one of the country’s largest banks, is now under investigation for millions of purported violations of … Read more
European crypto companies have a countdown clock on regulations kicking in on Jan. 10 next year. So how are they preparing? Go to Source Powered by WPeMatico
According to the blockchain analysis firm Ciphertrace, major U.S. banks process roughly $2 billion in digital currency transactions that go undetected every year. Ciphertrace disclosed a slew of financial institutions have not deployed the right KYC/AML infrastructure to detect unregistered cryptocurrency transfers. Also read: US to Strictly Enforce Crypto Rules Similar to FATF Guidelines All … Read more
According to CipherTrace, major U.S. banks unwittingly process billions of dollars from crypto-related business because they are ill-equipped to identify virtual asset service providers Go to Source Powered by WPeMatico
Two EU-based crypto firms are shutting down because of the upcoming EU Anti-Money Laundering rules Go to Source Powered by WPeMatico
Bottle Pay, a cryptocurrency payments provider from the U.K., has announced its decision to cease operations by the end of the year. Despite attracting some serious funding and expanding its user base significantly in the past few months, the company has found it unacceptable to continue to work under the upcoming EU regulations. AMLD5, the … Read more
Monero deems compliance to be the responsibility of exchanges, not cryptocurrencies Go to Source Powered by WPeMatico
Blockchain intelligence firm Chainalysis will provide crypto exchange Bitfinex with tools to monitor and combat suspected financial crime Go to Source Powered by WPeMatico
The Swiss Financial Market Supervisory Authority warned that blockchain exacerbates the country’s money laundering risks Go to Source Powered by WPeMatico