China’s highest court and public prosecution agency have, for the first time, acknowledged crypto transactions in their updated interpretation of the country’s anti-money laundering laws. At a joint press conference on August 19, representatives from the Supreme People’s Court and the Supreme People’s Procuratorate reportedly unveiled updated interpretations of China’s ...
Cryptocurrency derivatives exchange BitMEX has responded to recent claims from the U.S. Department of Justice that it violated the Bank Secrecy Act (BSA)in the country, labelling it as "old news." According to a press release published on July 10, 2024, US Attorney Damian Williams claimed that BitMEX had acknowledged providing ...
Paxful co-founder and former Chief Technology Officer Artur Schaback faces up to five years in prison after pleading guilty to conspiring to neglect Anti-Money Laundering (AML) compliance at the cryptocurrency exchange. On Monday, July 8, 2024, the United States Department of Justice announced that Schaback's sentencing is scheduled for November ...
In a significant move to bolster Anti-Money Laundering (AML) efforts, the European Banking Authority (EBA) has announced the expansion of Travel Rules guidelines to encompass crypto service providers and their intermediaries. Starting from December 30, crypto exchanges operating within the European Union (EU) will be obligated to comply with Regulation ...
The Central Bank of the United Arab Emirates (CBUAE) has announced new guidelines on anti-money laundering and counter-terrorism financing for financial institutions involved in transactions with virtual assets, including cryptocurrencies and non-fungible tokens (NFTs). The Guidance will assist LFIs’ understanding of risks and effective implementation of their statutory AML/CFT obligations, ...
On May 30, 2023, bitFlyer announced that it had implemented restrictions on crypto transactions to comply with the new Anti-Money Laundering (AML) regulations set by the Japanese Financial Action Task Force. These restrictions apply to all corporate and individual customers and are effective immediately. The restrictions would prevent users from ...
