anti-money laundering laws – DIGIT INFO

South Korea probes Upbit for 600K KYC violations

DIGIT — Fri, 15 Nov 2024 09:11:30 +0000

Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with Upbit’s business license renewal.

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Hong Kong Authorities Arrest Two Siblings Accused of Laundering $384 Million via Banks, Crypto Platform

DIGIT — Thu, 30 Dec 2021 05:30:30 +0000

Authorities in Hong Kong have arrested two individuals accused of laundering about $384 million using various avenues including a cryptocurrency exchange trading platform. If convicted, the two face a maximum jail sentence of 14 years plus a fine of $5 million. An Indictable Offense Two people accused of laundering about $384 million using a cryptocurrency […]

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US Senator Lummis: Big Government Spenders Are Accelerating Adoption of Crypto Assets Like Bitcoin

DIGIT — Fri, 30 Jul 2021 02:30:33 +0000

U.S. Senator Cynthia Lummis is pushing for regulation that would ensure bitcoin remains a good store of value. If the cryptocurrency “is to become what El Salvador has done, legal tender, then we need to make sure that we are using it in ways that comply with the Bank Secrecy Act and anti-money laundering laws,” […]

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