Category: Anti Money Laundering

Crypto Exchanges in the Hot Seat as Japanese Regulators Increase Oversight

The Financial Services Agency (FSA), which doubles as both Japan’s crypto and financial regulatory watchdog, has ordered all bitcoin trading venues and digital assets exchanges in the region to strengthen their know-your-customer (KYC) and anti-money-laundering (AML) measures, as part of preparation for the upcoming G-7 summit and FATF inspection, reports […]

Beyond KYC: Global Regulators Appear 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 followed by correspondent banks. Industry representatives say this requirement would be […]

Binance Increases Anti-Money Laundering Procedures

Top crypto trading platform Binance has collaborated with Elliptic, a blockchain monitoring solutions provider, in order to increase its compliance regulations. This regulatory change is due to the exchange’s international expansion, according to a report made on May 2. In order to ensure that the exchange’s services operate smoothly in […]

Binance Partners with Blockchain Security Firm CipherTrace, Bolsters AML Measures

Malta-based cryptocurrency exchange Binance announced that they have partnered with blockchain security firm CipherTrace to bolster their anti-money laundering (AML) measures. This according to a Binance Blog post on April 11, 2019. Recent Developments Call for Extra Security Measures The use of cryptocurrencies to orchestrate money laundering schemes has been a major […]