The CFTC and DOJ actions against BitMEX suggest that the crypto industry still has a lot of work ahead to meet KYC/AML standards.
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The CFTC and DOJ actions against BitMEX suggest that the crypto industry still has a lot of work ahead to meet KYC/AML standards.
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The highest number of exchanges defying regulatory norms are in Europe
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Despite criminal charges from the DOJ and at least one arrest of its leadership, Bitmex promises to continue operating as usual.
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FinCEN has warned U.S. banks that it is closely watching how they respond to crypto risk exposure with their AML programs.
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The IRS has a strong interest in receiving information from informed whistleblowers about offshore crypto accounts and criminal crypto tax activity.
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Crypto wallet provider BRD partners with Ciphertrace, Chainalysis and others to boost its banking enterprise solution.
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DeFi could fall under regulatory pressure if it is seen as a haven for money laundering.
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Binance’s lax KYC requirements are creating more legal problems for the exchange.
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The FATF doesn’t seem to like frequent jurisdiction hoppers, notably Binance.
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Widespread crypto adoption by enterprises has the potential to become a self-perpetuating mechanism for public blockchains, creating bigger, stronger networks.
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