#anti-money-laundering
#anti-money-laundering

EU Banking Watchdog Extends Anti-Money Laundering Measures to Cover Crypto Firms

The European Banking Authority (EBA) has issued guidance for crypto firms to comply with anti-money laundering and terrorist-financing requirements.

The EBA aims to harmonize the approach of crypto asset service providers (CASP) across the EU in combatting financial crime.

The guidelines will apply from December 30, around the time when the legislation on transfer of funds via digital assets takes full effect. [ more ]

www.cbc.ca

5 months ago

Canada news

RBC handed $7.4M penalty from financial intelligence agency | CBC News

The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) has imposed a $7.4-million penalty on the Royal Bank of Canada (RBC) for non-compliance with anti-money laundering and terrorist financing measures.

RBC failed to submit 16 suspicious transaction reports, out of 130 case files reviewed by Fintrac, where there were reasonable grounds to suspect ties to a money laundering offense. [ more ]

morecompliance

Coindesk

2 days ago

Business

U.S. Treasury Says It Wants to Better Money Laundering Regulations Around Crypto, Other Illicit Finance

The U.S. Treasury Department emphasizes enhancing efforts in combating illicit financing through digital assets. [ more ]

TechCrunch

2 weeks ago

Binance CEO 'CZ' sentenced to four months in prison | TechCrunch

Changpeng Zhao, founder of Binance, sentenced to 4 months in prison for various violations including anti-money laundering and sanctions breaches. [ more ]

Coindesk

1 month ago

KuCoin Withdrawals Spike to $1B in Crypto Amid U.S. Regulatory Clampdown

KuCoin saw $1 billion in withdrawals over 24 hours

Assets under management dropped 20% amidst U.S. charges [ more ]

TechCrunch

Google pulls Binance, other global crypto apps from India store | TechCrunch

Google has removed several crypto exchanges, including Binance and Kraken, from its Play Store in India due to alleged non-compliance with anti-money laundering rules.

This ban comes after Apple pulled the apps earlier this week and ISPs in India started blocking the URLs of the crypto exchange websites. [ more ]

Coindesk

Turkey Will Conclude Technical Studies for Crypto Legislation Soon: Finance Minister

Turkey is in the final stage of completing technical studies for forming crypto regulation.

The main goal of the regulation is to increase trust in the crypto asset area and eliminate potential risks. [ more ]

Axios

5 months ago

JPMorgan CEO Jamie Dimon says he would "close" cryptocurrency down

JPMorgan CEO Jamie Dimon suggests banning cryptocurrency

Cryptocurrency firms should follow anti-money laundering laws, say big bank CEOs [ more ]

WSJ

5 months ago

Essay | The End of Crypto's Dream to Escape From Government

Binance pleads guilty to breaking U.S. anti-money laundering laws and will pay $4.3 billion in penalties.

The agreement redefines the relationship between government and crypto by extending the government's reach into the heart of the crypto economy. [ more ]

Coindesk

3 weeks ago

EU Parliament Adopts Anti-Money Laundering Rules Package, Also Policing Crypto

The European Parliament approved anti-money laundering laws, enhancing due diligence and providing access to beneficial ownership information, affecting crypto firms and others. [ more ]

Coindesk

2 months ago

NFT Providers May Need Registration to Comply With UK Money Laundering Rules

NFT providers in the UK may need to register with the Financial Conduct Authority for anti-money laundering purposes.

NFTs are likely to be outside the financial services regulation but may fall under anti-money laundering regulations. [ more ]

Coindesk

2 months ago

Frankfurt to Host New EU Money Laundering Watchdog Tasked With Monitoring Crypto

The European Union is establishing a new Anti-Money Laundering Authority in Frankfurt to oversee crypto and financial issues.

The new authority aims to enforce compliance with anti-money laundering and counter-terrorist financing obligations in the EU. [ more ]

Coindesk

3 months ago

Crypto Industry Cautiously Welcomes Agreement on New EU AML Rules

The European Parliament and EU Council have reached a provisional deal on anti-money laundering rules for crypto.

Crypto industry participants are concerned that the rules are more stringent for crypto firms compared to traditional financial institutions. [ more ]

Coindesk