AML – Page 4 – DIGIT INFO

Top 7 legal and compliance jobs in the crypto market

Explore essential skills for top legal and compliance jobs in the crypto market.

Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’

After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate. However, some critics are dismissing Warren’s opinion as “terribly misinformed” and claim that she is “tossing out egregious accusations.” Crypto Proponents Offer Different Perspectives on Silvergate […]

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Banks with crypto services require new Anti-Money Laundering capabilities

Large financial institutions are getting involved in digital assets by investing capital, time and effort into on-chain analytics solutions.

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India subjects crypto transactions to anti-money laundering law

The operators face an obligation to store the transactions’ data for ten years and pass it to regulators on demand.

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Coinbase CEO hints its new layer-2 network could include AML measures

Brian Armstrong said centralized firms have a responsibility to monitor transactions and carry out AML checks.

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UBS Strategists Predict Minimal Impact of Upcoming Mt Gox Payouts on Bitcoin Value

A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value. While a new supply will come to the market, UBS strategists insist that “it would be less concentrated.” UBS Market Strategists Believe Mt Gox Payouts Won’t Destabilize Bitcoin’s […]

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FATF agrees on roadmap for implementation of crypto standards

Part of the FATF’s ‘Travel Rule’ includes recommendations that financial institutions obtain information on the originators and beneficiaries of certain crypto transactions.

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South Korea to deploy cryptocurrency tracking system in 2023

The ‘Virtual Currency Tracking System’ will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance.

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Coinbase Agrees to $100 Million Settlement With New York Financial Regulator for Anti-Money Laundering Violations

Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were inadequate from 2020 through 2021. […]

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BMW Partners With Coinweb to Develop Blockchain-Based Vehicle Financing Automation and Loyalty Program in Thailand

BMW coinweb blockchain operations thailand

BMW, the luxury car manufacturer, has partnered with Coinweb, a decentralized blockchain layer 2-based company, to introduce blockchain-based tools to its operations. The company will develop blockchain-based automation for vehicle financing processes, and also a rewards program for customers of the automotive company adapted to compliance processes in Thailand. BMW to Introduce Blockchain to Its […]

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