Regulators

Irish Banks Hail EU’s ‘Radical’ Anti-Money Laundering Push

<div class=”featured_image_container”> </div> <strong>Banks in Ireland have welcomed an upcoming reform of the European Union’s anti-money laundering regulations that will affect the crypto space. The Irish banking industry organization voiced support for the changes aimed at disrupting illicit transactions at the union level while calling them “radical.”</strong> New AML Body to Weed Out Suspicious Transactions …

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Binance Is Hunting for a New CEO — Exchange’s US Venture ‘Looks at Potential IPO Route’

<div class=”featured_image_container”> </div> <strong>Binance CEO Changpeng “CZ” Zhao has explained in a recent interview that the company is looking to launch a U.S.-based initial public offering (IPO) in the future. The crypto exchange has been stuck in regulatory crosshairs during the last few weeks and has had issues with payment providers. CZ also noted during …

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South Korean Regulators Warn Dozens of Foreign Exchanges to Comply With New Rules

<div class=”featured_image_container”> </div> <strong>Overseas crypto exchanges marketing to Koreans will be blocked if they fail to comply with new South Korean regulations. The country’s anti-money laundering body has sent a notice to a number of foreign trading platforms warning them a registration is mandatory in order to provide services to Korean residents. </strong> Korean Financial …

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Binance Quits Stock Token Trading as Hong Kong Adds to Mounting Regulatory Pressure

<div class=”featured_image_container”> </div> <strong>Cryptocurrency exchange Binance has announced it will no longer support the trading of stock tokens. The decision comes against the backdrop of an ongoing regulatory crackdown, with Hong Kong becoming the latest to declare that the platform is not licensed to provide such services in its jurisdiction. </strong> Stock Tokens No Longer …

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Hong Kong Busts Money Laundering Ring Using Tether to Wash Millions

<div class=”featured_image_container”> </div> <strong>Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. </strong> Money Laundering Syndicate Recycles $155 Million in …

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Binance Deploys Crypto Monitoring ‘Traveler’ System to Comply With FATF Travel Rule

<div class=”featured_image_container”> </div> <strong>Binance announced yesterday it deployed Ciphertrace’s Traveler system as part of its compliance efforts. Traveler is the first system designed for exchanges to comply with the Travel Rule proposed by the Financial Action Task Force. The exchange would be among the first wave of exchanges implementing this automatic Travel Rule compliance system.</strong> …

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Japan’s Top Financial Watchdog Sends a Warning Crypto Derivatives Exchange Bybit

<div class=”featured_image_container”> </div> <strong>The Japanese government’s Financial Services Agency (FSA) has issued a warning to the crypto derivatives exchange Bybit claiming that the trading platform is allowing residents of Japan access to the exchange. The news follows the Bank of Japan Governor Haruhiko Kuroda criticizing digital currencies for speculation.</strong> Japan’s FSA Warns Bybit Fintech Limited …

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South Korean Financial Supervisory Service Tasked With Crypto Market Oversight

<div class=”featured_image_container”> </div> <strong>The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. </strong> Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took …

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Wealth Manager Vaneck Files Application for an Ethereum ETF, Aims for Cboe BZX Listing

<div class=”featured_image_container”> </div> <strong>Public documents show the wealth manager Vaneck has applied for an ethereum based exchange-traded fund (ETF). Vaneck Digital Assets’ Form S-1 filing with the Securities and Exchange Commission (SEC) was filed on May 7, while the company’s bitcoin-based ETF is still under review.</strong> While Waiting for Approval for Its Bitcoin ETF, Vaneck …

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OFAC Escalates Russian Sanctions Listing Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread

<div class=”featured_image_container”> </div> <strong>Rumors concerning the U.S. Treasury cracking down on several financial institutions over money laundering has been spreading like wildfire on social media and forums. There’s been no formal announcement from the U.S. entity and at this stage, the news is widely considered FUD. However, some are assuming the hearsay stems from the …

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