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Binance has faced compliance warnings from many countries over the past couple of years, but it managed to overcome those shortcomings in most nations barring the U.S. Go to Source Powered by WPeMatico
A “close look” is being taken at money laundering and terror financing laws by FinCEN as it asked banking sector players for feedback on DeFi’s crime risks. Go to Source Powered by WPeMatico
Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged 7.8% in 2022, is the “most severely exposed to the concurrent crises.” Impact of the … Read more
The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms. It also clarified certain reporting and identification requirements that apply to crypto transactions. Financial Authorities Adjust Swiss Anti-Money Laundering Rules Concerning Crypto Transfers Following consultations that started earlier this year, the Swiss Financial … Read more
While some security issues do exist, major internet outages like the one witnessed across the EU recently cannot really threaten cryptocurrencies or their associated networks. Go to Source Powered by WPeMatico
Cryptocurrency exchange Binance will be able to offer services for digital assets in Cyprus as the platform is now registered with the country’s securities regulator. The news comes after the company obtained similar approvals in several other European jurisdictions. Global Exchange Binance to Comply With Cyprus Crypto Regulations Binance, the world’s leading crypto exchange in … Read more
Large financial institutions are getting involved in digital assets by investing capital, time and effort into on-chain analytics solutions. Go to Source Powered by WPeMatico
Zero-knowledge Know Your Customer (KYC) would allow businesses to adhere to strict AML/CTF rules while ensuring customer privacy. Go to Source Powered by WPeMatico
Meeting international Anti-Money Laundering standards is the latest in a series of measures Japan has taken in recent months to improve its cryptocurrency regulation. Go to Source Powered by WPeMatico
Earlier this week, the Israeli crypto exchange became the first crypto firm in the country to receive a license enabling it to work with local banks. Go to Source Powered by WPeMatico
