News with the tag "Bank Secrecy Act"

TD Bank, one of the largest financial institutions in the U.S., has agreed to pay a record $3 billion penalty, the largest ever under the Bank Secrecy Act, after pleading guilty to felony charges. The bank is the largest in U.S. history to plead guilty to Bank Secrecy Act program failures and the fi...

New York’s financial regulator has a job opening for a Virtual Currency Senior Blockchain Analytics Analyst. The permanent position focuses on preventing financial crimes such as money laundering and fraud by ensuring compliance in the growing virtual currency sector. The role involves using blockch...

The US Treasury and Federal Reserve plan to redefine “money” used under the Bank Secrecy Act, aiming to include cryptocurrencies and digital assets in new reporting requirements.

In a significant development for the cryptocurrency industry, United States Senator Roger Marshall has overturned his support for the Digital Asset Anti-Money Laundering Act (DAAMLA) Bill, a legislation introduced by Democratic Party Elizabeth Warren. Marshall’s move to back down from the bill indic...

Crypto exchange platform BitMEX is pleading guilty to violations of the Bank Secrecy Act, according to the Department of Justice (DOJ). In a new press release, the DOJ says that BitMEX, founded by crypto entrepreneur Arthur Hayes in 2014, violated the law by neglecting to establish and maintain an a...

If the Justice Dept. prevails in the case against the cryptocurrency mixer, internet service providers and the post office may also be liable to transmitter requirements, they said.

Amidst the challenging circumstances of a prison sentence, Binance founder and former Chief Executive Officer (CEO) Changpeng CZ Zhao has taken to the X (formerly Twitter) platform to express his gratitude to those who supported him during these trying times. Binance Founder Promises Resilience On T...

US Senators Elizabeth Warren and Sherrod Brown are “trying to kill” the entire crypto industry, according to the Chamber of Digital Commerce. The US-based crypto advocacy group argues that the lawmakers are spearheading an unprecedented attack on digital assets, citing Warren’s (D-Massachusetts) Dig...

A Los Angeles-based lender known as the ‘bank to the stars’ will pay a $65 million fine for a number of violations, including failure to follow the Bank Secrecy Act. The Office of the Comptroller of the Currency (OCC) says City National Bank engaged in “unsafe or unsound practices” ultimately result...

Brian Armstrong reflected on the announcement of criminal charges against Binance, stating that Coinbase’s decision to get licenses was correct.