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European AML Regulations Follow the US Path With a Six-Years’ Delay

Opinion In January 2020, the regulatory landscape for crypto businesses will completely change in the European Union in comparison with the last decade — and these changes will touch all those who store clients’ crypto funds or provide fiat-to-crypto exchange services, at minimum. Not long ago, th..

CipherTrace: As Crypto Exchanges Struggle with KYC, “Travel Rule” Specter Grows

The Wild West days of the cryptoeconomy are over if the G20 group’s Financial Action Task Force (FATF) has anything to say about it. However, according to blockchain investigator firm CipherTrace, it seems many of the world’s top crypto exchanges are still woefully unprepared to meet the greater de..

Report: Crypto-Related Fraud and Theft Resulted in $4.4B Loss in 2019

News In 2019, the total volume of cryptocurrency-related fraud and theft resulted in losses worth $4.4 billion, according to CipherTrace’s report for the third quarter of 2019. In its “Cryptocurrency Anti-Money Laundering Report, 2019 Q3,” security research firm CipherTrace delved into the 120 mos..

South Korea Progresses Bill to Provide Legal Foundation for Cryptocurrencies

News South Korea’s National Assembly is progressing a bill that will provide a legal basis for cryptocurrencies in the country. The bill categorizes virtual currencies as digital assets and intends to bring regulatory clarity and transparency to crypto markets in South Korea, English-language news..

BitBay Crypto Exchange to Delist Monero Due to Money Laundering Concerns

News Cryptocurrency exchange BitBay will delist privacy-centric cryptocurrency Monero (XMR) due to money laundering concerns. The exchange announced the decision on Nov. 25, noting that the delisting will take place on Feb. 19, 2020. The exchange explained its decision “Monero (XMR) can selectivel..

US Deputy Treasury Secretary: Crypto Raises Questions on Self-Government

News The United States Deputy Treasury Secretary argued that decentralized privately-issued digital currencies can shift some functions from the state to the private sector. Deputy Secretary of the Treasury Justin Muzinich presented his view on the emerging ecosystem of financial intermediation an..

Australian Man Arrested for Unregistered Crypto Transactions

News Australian law enforcement arrested an unnamed 38-year-old Australian man for performing unregistered cryptocurrency transactions. The police department of Victoria announced on Nov. 12 that the man has been arrested at his address in the town of Cairnlea. The joint report from the Victoria ..

CipherTrace Urges Crypto Companies to Prepare for Anti-Money Laundering Compliance

In depth For better or for worse, the cryptocurrency space is coming of age. Since Bitcoin’s rise to mainstream prominence in 2015, there has been increasing recognition of digital assets from government agencies around the world. In turn, new regulations are being imposed to control the way crypt..

Official: Binance Chain and BNB Will Be Traceable via CipherTrace

News American blockchain security firm CipherTrace will provide Anti-Money Laundering (AML) controls for Binance Chain and its native asset Binance Coin (BNB). CipherTrace to increase AML checks on Binance ChainBinance Chain, a public blockchain of major crypto exchange Binance and the underlying ..

Calibra Head David Marcus Touts Libra’s Money Laundering Standards

News Calibra CEO David Marcus recently claimed that the Anti-Money Laundering (AML) standards of Libra — Facebook’s proposed stablecoin project — will be better than other payments networks. Citing statements from Marcus’ speech at the Money 20/20 conference in Las Vegas, finance publication Finex..

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