Binance Confirms Access Restrictions on Sanctioned Russian Users

October 1, 2024 Bitcoin.com

Binance

Crypto exchange Binance says it is complying with international sanctions by denying sanctioned Russian individuals and entities access to its platform. “Compliance remains our top priority. We are deeply committed to our users and maintaining their trust in our platform. We constantly invest in our teams and systems to protect our users,” Binance claimed. Binance […]

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC ,000,000 To End Regulator’s Lawsuit

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC $5,000,000 To End Regulator’s Lawsuit

USDC issuer Circle launches onchain compliance platform

September 24, 2024 Coin Telegraph

Circle

It's an important step toward winning the tokenized RWA market as Circle continues to vye with stablecoin leader Tether.

Circle Internet Financial, the issuer of U.S. Dollar Coin (USDC), has launched a suite of blockchain-based compliance products designed to help “companies build onchain while meeting rigorous demands for compliance,” according to a Sept. 24 social media post by Circle CEO Jeremy Allaire.

The platform, called Compliance Engine, includes transaction screening and monitoring tools to identify suspicious transactions and a service specializing in compliance with Know Your Customer (KYC) requirements such as the United States’ Travel Rule, Allaire said.

“We’ve built up tremendous capabilities in this area over the past decade, and we’re now taking those capabilities and exposing them to developers and operations teams that are building financial applications onchain,” Allaire said.

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC $5,000,000 To End Regulator’s Lawsuit

FATF Urges India to Strengthen Virtual Asset Regulation

September 21, 2024 Bitcoin.com

AML

India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised India’s progress but pointed out areas needing improvement, especially in regulating the non-financial sector and virtual asset providers. The country was […]

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC $5,000,000 To End Regulator’s Lawsuit

SEC Fines Prager Metis $1.95M Over Negligent FTX Audits

September 18, 2024 Bitcoin.com

SEC Fines Prager Metis .95M Over Negligent FTX Audits

Alameda Research

The U.S. Securities and Exchange Commission (SEC) has reached a $1.95 million settlement with Prager Metis CPAs LLC and its affiliate over serious allegations related to their audits of crypto exchange FTX. The case highlights critical oversights and violations of key industry standards, raising questions about the firm’s practices and the risks it missed. “Prager’s […]

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC $5,000,000 To End Regulator’s Lawsuit

Binance Kazakhstan Receives Formal Consent for Regulatory License

September 7, 2024 Bitcoin.com

AIFC

Binance Kazakhstan received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license, marking a major step toward becoming Kazakhstan’s first fully regulated Digital Asset Trading Facility (DATF). The approval followed rigorous evaluations, including financial audits and ISO certifications. Once licensed, Binance will manage virtual assets, offer custody services, and conduct […]

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC $5,000,000 To End Regulator’s Lawsuit

India’s FIU Considers Approving More Offshore Crypto Exchanges

September 6, 2024 Bitcoin.com

AML

India’s Financial Intelligence Unit is reportedly reviewing four offshore cryptocurrency exchanges for potential approval to resume operations following the lifting of bans on Binance and Kucoin. The focus is on ensuring compliance with anti-money laundering regulations, including transaction transparency and reporting of suspicious activity. FIU-India May Permit More Offshore Crypto Exchanges Next Year India’s Financial […]

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC $5,000,000 To End Regulator’s Lawsuit

UN Raises Human Rights Concerns in Telegram Founder Pavel Durov’s Case

September 3, 2024 Bitcoin.com

Arrest

The United Nations has expressed serious concerns about the arrest and charges against Pavel Durov, founder of Telegram, citing potential human rights issues. A U.N. spokeswoman called for adherence to international human rights standards, emphasizing the need for legality and proportionality in regulating social media platforms. United Nations Raises Human Rights Concerns Over Arrest of […]

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC $5,000,000 To End Regulator’s Lawsuit

Kraken Crypto Exchange Operator Fined by Australian Court

August 24, 2024 Bitcoin.com

ASIC

The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination, breaching the Corporations Act. ASIC emphasized the need for compliance in the crypto industry, aiming to ensure consumer […]

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC $5,000,000 To End Regulator’s Lawsuit

Binance Unveils Plan to Hire 1,000 Employees This Year, Prioritizing Compliance Amid Regulatory Pressure

August 24, 2024 Bitcoin.com

Binance

Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid increased regulatory scrutiny and ongoing legal challenges. Binance to Expand Workforce With 1,000 New Hires Amid Regulatory Scrutiny Binance CEO Richard […]

Cameron and Tyler Winklevoss’ Crypto Exchange Gemini To Pay CFTC $5,000,000 To End Regulator’s Lawsuit

Moody’s, Elliptic join forces for enhanced VASP risk screening

August 19, 2024 Coin Telegraph

AML

The companies will combine their strengths to provide enhanced virtual asset service providers screening ability.

The Moody’s financial research and ratings firm has teamed up with blockchain analytics and compliance specialists Elliptic to provide more insightful screening of virtual asset service providers (VASPs). According to the companies, the collaboration will leverage offchain and onchain data in a single interface.

The new service will take input such as digital asset transaction histories, financial records and regulatory databases to create a “comprehensive overview” of VASPs.

Elliptic has profiles of over 1,000 VASPs and uses real-time onchain data and proprietary technology to screen digital asset transactions for exposure to illicit activities. Moody’s offchain data includes over 21 million risk profiles, 489 million entities and 51,000 sanctioned entities, it claims. It uses the data to produce Anti-Money Laundering (AML) and Know Your Customer solutions for its clients.

Compliance

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