Coinbase sees infinite interoperability potential with Ethereum and USDC
Coinbase head of tokenization Anthony Bassili described plans for its Base network at TokenizeThis 2024 in Miami. Go to Source
AML
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Canadian regulator fines Binance $4.4M for AML and CFT violations
FINTRAC reported that Binance facilitated 5,902 separate transactions of $10,000 or more in crypto from June 2021 to July 2023 and failed to register with the regulator. Go to Source
Report: 30% of UK Watchdog’s Financial Crime Experts Focused on Crypto Businesses in 2022-23
According to a report, the Financial Conduct Authority, a watchdog for the financial services industry in the U.K., had 30% of its financial crime specialists focused on crypto-asset businesses. Assessments conducted by supervisors in the U.K. found that not only crypto-asset businesses, but nearly all participants in the country’s financial services sector, are susceptible to … Read more
Samourai Wallet mixer co-founders arrested on AML, licensing charges
The crypto mixer allegedly handled $2 billion in unlawful transactions and facilitated $100 million in money laundering. Go to Source
Latam Insights: Chile to Keep Advancing CBDC Tests, Argentina Debuts VASP Registry
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: the Central Bank of Chile will keep experimenting with CBDC, Argentina’s VASPs will have to register to provide services in the country, and Argentines are warming up to bitcoin as an investment instrument. … Read more
US Judge Urged to Approve Binance’s $4.3 Billion Plea Deal
A U.S. Federal Judge has been urged to accept a plea deal from U.S. authorities with the cryptocurrency exchange, Binance. Prosecutors, in a memorandum, have asserted that the agreed-upon sanctions are commensurate with the extent of Binance’s deliberate law violations. Binance’s Alleged Refusal to Register as a Money Services Business U.S. prosecutors have reportedly urged … Read more
ZK Proofs Enable Defi Platforms to Meet Regulatory Requirements Without Compromising User Data, Says Ex-FCA Regulator
Diana Tlupova, Head of Compliance at Nexera ID, has argued players in the decentralized finance (defi) space can stay ahead of regulators who might want to impose stringent Know-Your-Customer (KYC) rules by using zero-knowledge (zk) proofs to authenticate user credentials. Tlupova contends that, in addition to allowing users to maintain control over their KYC data, … Read more
Kucoin agrees to ban New York residents and pay $22 million in settlement
Kucoin users from New York will lose the ability to trade within 30 days and will have their accounts closed within 120 days. Go to Source
More US senators back Elizabeth Warren’s AML bill targeting crypto
The legislation, reintroduced in July, already has the support of several U.S. lawmakers, but critics have suggested it could threaten financial freedom and privacy. Go to Source
CZ cites Star Trek to Binance staff: ‘l need everyone to continue performing admirably’
Former Binance CEO CZ sent a letter to employees after he stepped down, assuring employees the company would be fine, and quoting a famous Star Trek line as he closed. Go to Source
