Category: anti-money laundering

Fireblocks Adds Crypto-Tracing Tool to Guard Against Money Laundering

Digital asset storage and transaction firm Fireblocks will start tracking cryptocurrency transactions to help enterprise clients align with anti-money laundering (AML) best practices. Announced Monday, the Fidelity-backed company is integrating with a tracing tool from crypto forensics firm Chainalysis...

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Binance Korea Deploys Anti-Money Laundering Tool from Regtech Company Coinfirm

Binance’s Korean crypto trading arm is now working with blockchain analytics startup Coinfirm to better ensure anti-money laundering (AML) compliance. The extended partnership, announced Tuesday, will see Coinfirm’s AML solution integrated with Binance Korea’s services on Binance Cloud –...

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The Netherlands’ AMLD5 Interpretation Appears to Be Killing Crypto Firms

The Dutch crypto market is seeing the first of most likely many small crypto exchanges get squeezed out following the passage of heavily criticized anti-money laundering (AMLD5) regulations. Announced Friday in a company blog, Bittr founder Ruben Waterman said...

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G-20 Urges Countries to Adopt Tough FATF Rules on Cryptocurrencies

Finance ministers and central bankers from the G-20 are pushing for wider adoption of standards that compel cryptocurrency exchanges to disclose user information. Following a summit in the Saudi-Arabian capital Riyadh over the weekend, representatives from G-20 financial institutions...

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European Crypto Firms Brace for Higher Costs as AMLD5 Takes Effect

A strict new regulatory regime is dawning upon European firms handling cryptocurrency. Friday marks the deadline for the European Union’s 28 member nation-states to adopt the Fifth Anti-Money Laundering Directive or AMLD5.  The new rules require crypto exchanges and...

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Beyond KYC: Regulators Set to Adopt Tough New Rules for Crypto Exchanges

The Takeaway The Financial Action Task Force (FATF) is set to finalize new international standards for regulating cryptocurrency firms next month. Those standards are widely expected to subject crypto exchanges, wallet providers and others to the “travel rule” long...

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