News with the tag "AML Regulations"

Turkey is set to implement stringent crypto regulations by February 2025 as part of their effort to tighten anti-money laundering (AML) frameworks to align with global standards. This legislative move, announced in the final week of 2024 , is inspired by similar regulatory initiatives in major juris...

Taiwan Financial Supervisory Commission (FSC) is preparing to enforce comprehensive regulations for cryptocurrency platforms in 2025. The post Taiwan Unveils New Crypto Regulations, Set for 2025 Launch appeared first on TheCoinrise.com .

Supreme People’s Procuratorate said there has been a 20-fold increase in people prosecuted for money laundering since 2019.

A newly published report by Singapore’s Ministry of Home Affairs notes that the illicit use of crypto in terror financing is on the rise, though cash is still the dominant method used in transferring value. The country's terrorism threat level remains high following the October 7 2023 Hamas attacks ...

The United States Federal Reserve has announced the termination of its enforcement action against Silvergate Bank alongside its holdings company Silvergate Capital Corporation. This year, the board of the central bank fined the institution $43 million over non-compliance with anti-money laundering (...

The UK Law Commission scoping paper suggested legal reforms for DAOs, a review of the Companies Act and international cooperation on AML and tax frameworks.

Taiwan has officially established a cryptocurrency industry association under government guidance. This marks a proactive stance to regulate the crypto sector by creating a structured framework that promotes innovation while ensuring security. The association’s formation reflects the government’s co...

A Russian national, Alexander Vinnik, has pleaded guilty in a money laundering conspiracy that used the cryptocurrency exchange BTC-e. Admission was made as a result of the wider investigation, which disclosed massive illegal activities conducted by the exchange from 2011 to 2017. Details of the Gui...

The European Parliament has passed a new rule to combat the violation of Anti-money Laundering (AML) regulations and incidents of terrorist financing. EU Sets U Agency to Monitor AML Regulation To oversee and supervise the implementation of the new rule, a new agency called the Authority for Anti-Mo...

Senator Elizabeth Warren has called for tougher regulators for crypto validators and stablecoin users to curb global illicit trade. At the United States Senate Banking Committee Hearing, Warren noted that crypto firms must be subject to similar Anti-Money Laundering (AML) regulations as their tradit...