Crypto and money laundering: What you need to know
What is crypto money laundering? Crypto money laundering involves concealing illegally obtained funds by funneling them through cryptocurrency transactions to obscure their origin. Criminals may operate offchain but move funds onchain to facilitate laundering. Traditionally, illicit money was moved using couriers or informal networks like Hawala. However, with the rise of digital assets, bad actors […]
What are wash trading and money laundering in NFTs?
Wash trading and money laundering distort NFT markets, creating fake demand and facilitating illicit activities.This post was originally published on this site
Senator Warren urges Trump’s Treasury pick to consider stricter crypto regs
One crypto executive speculates Warren’s letter is a veiled attempt to justify an expansion of regulation against “neutral crypto technology providers.”This post was originally published on this site
One thing disruptor banks didn’t expect to be challenging: Compliance
Innovative challengers are building compliance into their DNA and outcompeting established players.This post was originally published on this site
IMF urges Kenya to align crypto laws with global standards
IMF recommended that Kenya overhaul outdated regulations, address scams and align its crypto framework with global standards for financial stability.This post was originally published on this site
HashKey secures VASP license in Ireland under MiCA regulations
HashKey Europe has entered Ireland following its approval for a VASP license under MiCA regulations, enabling various crypto services.This post was originally published on this site
South Korea Vows to Crack Down on Crypto Money Laundering
South Korea’s financial regulator says it is taking steps to combat money laundering and other financial crimes involving virtual assets. Virtual Assets and Financial Crime The head of South Korea‘s financial services industry regulator recently vowed to crack down on those who use virtual assets for money laundering. Speaking at Anti-Money Laundering Day, Kim Byung-hwan, […]
South Korea Vows to Crack Down on Crypto Money Laundering
South Korea’s financial regulator says it is taking steps to combat money laundering and other financial crimes involving virtual assets. Virtual Assets and Financial Crime The head of South Korea‘s financial services industry regulator recently vowed to crack down on those who use virtual assets for money laundering. Speaking at Anti-Money Laundering Day, Kim Byung-hwan, […]
South Korea probes Upbit for 600K KYC violations
Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with its business license renewal.This post was originally published on this site
New York Regulator Hiring Blockchain Analyst to Tackle Crypto Crimes
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 blockchain analytics to monitor risks. Applications are due by Oct. 14. New […]