anti-money laundering

A small portion of cryptocurrency firms successfully obtained licensing under the UK’s anti-money laundering regulations in the past fiscal year. What Happened: The UK’s Financial Conduct Authority (FCA) disclosed in its annual report that out of 35 applications it received in the 12...

Former Binance CEO Changpeng Zhao was sentenced Tuesday to four months in prison for his role in failing to establish an effective anti-money laundering (AML) program at the cryptocurrency exchange. Judge Richard Jones of the U.S. District Court for the Western District of Washington delivered the...

Crypto attorney, John Deaton, has announced his candidacy for the U.S. Senate in Massachusetts, aiming to unseat current Senator Elizabeth Warren (D-MA). His campaign was kick-started with the launch of a dedicated website and a Facebook page over the past weekend, Blockworks reported....

The U.S. Securities and Exchange Commission (SEC) on Monday defended its regulatory authority over certain cryptocurrency assets in a legal confrontation with crypto exchange Binance (CRYPTO: BNB), as the latter urged a federal judge to dismiss the agency's lawsuit against it. What...

A new report on decentralized finance (DeFi) hones in on one of the most pressing issues facing this innovative sector: the challenge of digital identity. What Happened: The Technology Advisory Committee of the U.S. Commodity Futures Trading Commission (CFTC) is calling for a balance between...

U.S. Securities and Exchange Commission Chair Gary Gensler says widespread noncompliance among cryptocurrency companies is costing investors. What Happened: "There is a lot of noncompliance," Gensler said in a recent interview with CNBC. "This is really the Wild West." Gensler...

Shedding light on the complexities of cryptocurrency regulation and the consequential legal actions against Binance founder Changpeng Zhao, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam on Thursday said the crypto mogul could eventually serve jail time. In an interview...

The Philippines' Securities and Exchange Commission (SEC) has initiated steps to restrict access to Binance. The latest advisory follows recent legal developments involving the crypto exchange's former CEO, Changpeng Zhao. The Philippine's SEC warned the public that Binance is not...

Former CEO of crypto exchange Binance (CRYPTO: BNB) Changpeng Zhao is contesting the U.S. government's attempt to modify his bail terms. In a fresh legal document, he challenged the notion that he poses a flight risk, despite holding citizenship in two other countries, including...

Binance, the world’s largest cryptocurrency exchange, was fined Tuesday $4.3 billion after CEO Changpeng Zhao pleaded guilty to failing to comply with US anti-money laundering and funding of terrorism laws. At a press conference announcing the record fine, Attorney General Merrick B. Garland...

Stablecoin issuer Tether (CRYPTO: USDT), in collaboration with crypto exchange OKX, Monday announced the freezing of approximately $225 million in USDT tokens that were identified in external self-custody wallets linked to a Southeast Asian human trafficking syndicate involved in a...

The House Financial Services Committee (FSC) is set to conduct an in-depth examination of unlawful activities within the cryptocurrency sector.  The hearing, scheduled for Nov. 15, is titled "Crypto crime in context: breaking down the illicit activity in digital assets,...

Helio CEO Stijn Paumen recently spoke with Benzinga where he shed light on the transformative role of blockchain technology. "You might have applications that actually have hidden wallets and self-custody wallets," Paumen explained, indicating a future where blockchain is so embedded in...

The U.K. Financial Conduct Authority (FCA) officially recognized PayPal (NASDAQ: PYPL) as a crypto service provider, as indicated on the regulator's portal. The approval, granted to PayPal UK on Tuesday, Oct. 31, allows the firm to partake in "certain cryptoasset activities."...

Dutch cryptocurrency companies, including prominent names like Bitvavo and Binance's successor Coinmerce, have achieved a partial victory in their battle against the $2.3 million fees levied by Dutch regulators. The contention arose from the charges imposed by the Dutch Central Bank (DNB) for...