AML
HKMA Imposes Penalty on WeChat Pay Hong Kong for AML Failures
The Hong Kong Monetary Authority has fined WeChat Pay Hong Kong Limited HK$875,000 for contravening anti-money laundering regulations.
HKMA Imposes HK$10 Million Fine on DBS Bank (Hong Kong) for AML Failures
HKMA has imposed a HK$10 million penalty on DBS Bank (Hong Kong) for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
Animoca Brands Partners with Blockpass to Enhance Web3 Security and Compliance
Animoca Brands aligns with Blockpass in a strategic partnership to bolster Web3 security, aiming to set new standards in user verification and regulatory compliance.
Joint Sanctions by U.S., UK, Australia Target Hamas's Crypto Financing Networks
The U.S., UK, and Australia have imposed a fifth round of sanctions targeting Hamas's cryptocurrency transfer networks, aiming to disrupt the financial infrastructure that supports terrorist activities in Gaza.
EBA Issues Updated Guidelines for Crypto Asset Service Providers
The European Banking Authority (EBA) extends Anti-Money Laundering and Counter-Terrorist Financing measures to include crypto firms, aiming to harmonize regulatory approaches and mitigate financial crime risks in the EU.
CFTC Report Underscores DeFi Risks and Calls for Action
The CFTC report on DeFi underscores significant risks to the U.S. financial system, national security, and consumer protection, emphasizing the need for increased understanding, regulation, and collaboration in the sector.
India's Crackdown on Crypto Exchanges: Binance, Kraken, Mexc, and Kucoin Delisted from App Store
India's FIU removes apps of major crypto exchanges, including Binance and Kraken, from the App Store, enforcing compliance with anti-money laundering laws amid new crypto tax policies.
Lesley O'Neill was Appointed as Binance.US Chief Compliance Officer
Lesley O’Neill's appointment as Binance.US Chief Compliance Officer marks a strategic response to heightened SEC scrutiny, emphasizing the crypto industry's shift towards compliance and regulatory adherence.
US Government Removes Cryptocurrency AML Provisions from NDAA
The US government has removed two AML provisions relating to cryptocurrencies from the NDAA, indicating a cautious approach to crypto regulation and raising concerns about future AML measures.
Cyprus Tightens Crypto Regulations with Hefty Penalties for Non-Compliance
Cyprus is tightening its cryptocurrency regulations by introducing hefty penalties for non-compliance. The government aims to align with international AML/CFT standards and has submitted a legislative amendment for review. All crypto service providers must register with CySEC, facing fines or imprisonment for non-compliance.