Binance Helps Indonesian Authorities Recover Funds in Crypto Fraud Bust

September 25, 2024 Bitcoin.com

Assets

Crypto exchanges Binance and Tokocrypto collaborated with Indonesian law enforcement to crack down on a crypto scam, seizing $200,000 in stolen assets. “During the investigation, multiple individuals involved in managing the accounts that received the stolen funds were arrested,” Binance stated. Binance and Tokocrypto Help Bust Major Crypto Fraud in Indonesia Crypto exchange Binance announced […]

XRP Price Analysis: Crypto Traders Brace for a Wild Ride as XRP Approaches Critical Levels

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 […]

XRP Price Analysis: Crypto Traders Brace for a Wild Ride as XRP Approaches Critical Levels

German Authority Seizes 13 Unauthorized Crypto ATMs

August 21, 2024 Bitcoin.com

ATMs

Germany’s Federal Financial Supervisory Authority (BaFin) has seized 13 unauthorized cryptocurrency ATMs in a nationwide operation involving 60 officers and raids on 35 locations. BaFin reported that the machines facilitated illegal transactions and posed money laundering risks. Under German law, trading currencies, including cryptocurrencies, without proper authorization is illegal, with violators facing up to five […]

XRP Price Analysis: Crypto Traders Brace for a Wild Ride as XRP Approaches Critical Levels

Bybit receives VASP, card operator registration in Argentina

August 16, 2024 Coin Telegraph

anti-money laundering

Bybit’s registration as a virtual asset service provider was made possible by a law passed in July.

Cryptocurrency exchange Bybit has received registration as a virtual asset service provider (VASP) and card operator from Argentina’s Financial Information Unit (FIU).

In March, VASP registration was introduced in Argentina via legislation aimed at bringing the country into better conformity with the Anti-Money Laundering and Combatting the Financing of Terrorism requirements of the Financial Action Task Force (FATF). The FIU, which registered Bybit, is “in charge of analyzing, processing and transmitting financial intelligence information for the purposes of preventing money laundering and terrorist financing.”

Dubai-based Bybit, the second-largest crypto exchange by volume, began operating in Argentina in June 2022 to withdraw from their Bybit accounts to pay in fiat currency.

XRP Price Analysis: Crypto Traders Brace for a Wild Ride as XRP Approaches Critical Levels

Binance Hit With $87 Million Tax Bill in India

August 6, 2024 Bitcoin.com

Binance Hit With Million Tax Bill in India

anti-money laundering

Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such scrutiny in India. A source claimed that Binance earned over Rs 4,000 crore from transaction fees […]

XRP Price Analysis: Crypto Traders Brace for a Wild Ride as XRP Approaches Critical Levels

Indian Authority Fines Crypto Exchange Binance $2.25 Million for AML Violations

June 20, 2024 Bitcoin.com

Binance

India’s Financial Intelligence Unit has fined crypto exchange Binance $2.25 million (₹18.8 crore) for non-compliance with anti-money laundering (AML) regulations. Binance’s return to India is seen as challenging, especially after the government’s tax measures significantly reduced daily trades on some major local crypto exchanges. This fine follows Binance’s global scrutiny and former CEO Changpeng Zhao […]

XRP Price Analysis: Crypto Traders Brace for a Wild Ride as XRP Approaches Critical Levels

Binance to return to India after paying $2M fine for non-compliance: Report

April 18, 2024 Coin Telegraph

Binance

Binance and nine foreign crypto exchanges were blocked in India over non-compliance with local AML regulations.

Binance crypto exchange is set to return to India after a four-month ban by paying a $2-million fine for non-compliance, according to a report published in The Economic Times.

Binance will be the second overseas exchange after KuCoin to mark a return to the country after India’s financial regulatory body blocked access to crypto exchanges for non-compliance.

The Indian Ministry of Finance’s Financial Intelligence Unit (FIU) blocked access to nine foreign crypto exchange’s URLs and mobile applications, including Binance, in the first week of January for failing to adhere to the country’s Anti-Money Laundering Act.

XRP Price Analysis: Crypto Traders Brace for a Wild Ride as XRP Approaches Critical Levels

Nearly 400 Crypto Firms Lose Their Estonian Licenses Under New Rules

May 11, 2023 Bitcoin.com

ACT

The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses are currently authorized to provide digital-asset services. Most Estonian Licenses for Provision of Crypto-Related Services Expire A total of 389 […]

XRP Price Analysis: Crypto Traders Brace for a Wild Ride as XRP Approaches Critical Levels

Estonia Clarifies Upcoming Regulations, Will Not Ban Crypto Holding or Trading

January 4, 2022 Bitcoin.com

bill

The government of Estonia has approved legislation tailored to improve oversight of its crypto sector which expanded rapidly due to favorable regulations and business climate. The new law, which is yet to be adopted, will introduce stricter requirements for service providers without preventing their clients from owning or exchanging cryptocurrencies. Authorities in Tallinn Draft Stricter […]

XRP Price Analysis: Crypto Traders Brace for a Wild Ride as XRP Approaches Critical Levels

Estonia Considers Revoking Crypto Licenses as Government Mulls Tougher Regulations

October 16, 2021 Bitcoin.com

AML

Authorities in Estonia are working on new legislation expected to stiffen the rules for the country’s cryptocurrency sector. The Baltic nation’s regulator for the industry is considering whether to revoke previously issued crypto licenses and restart authorization from scratch. Licensed Crypto Companies Register Millions in Turnover, Estonia Gets Little With only around 1.3 million people, […]

fiu