Taiwan FSC Implements new AML Rules for Crypto Firms
Virtual asset service providers must comply with the new anti-money laundering legislation that Taiwan’s Financial Supervisory Commission has adopted or face penalties. According to a recent release, the FSC has reportedly published a draft of the “VASP Registration Regulations,” which will go into force on January 1, 2025. These actions come after the AML Act […]
Binance Receives $4.4M Fine for AML, CFT Violations in Canada
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative monetary penalty of $4.4 million on cryptocurrency exchange Binance. FINTRAC informed Binance Holdings Limited on May 9 that penalties had been levied in retaliation for the company’s failure to adhere to Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations. […]
Crypto.com Surpasses 100 Million Global Users
Since its establishment in 2016, cryptocurrency exchange Crypto.com claims to have added more than 100 million users worldwide. Crypto exchange Crypto.com has registered 100 million users around the globe as the platform doubles down on its international expansion. In a May 6 blog post, the corporation asserts that its marketing campaign—especially the most recent Fortune […]
UAE FSRA Updates Sanctions, AML Policy on Digital Assets
The Financial Services Regulatory Authority (FSRA) of the United Arab Emirates has incorporated new provisions on digital assets into its Anti-Money Laundering and Sanctions policy. The FSRA formally declared revisions to its Anti-Money Laundering and Sanctions Rules and Guidance, or the AML Rulebook, on December 21. Among the modifications made were sections of the FATF […]
Only 6 Countries Implemented Stablecoin Regulations in 2023
According to a new report, only a few nations have initiated market regulations despite the exponential growth of stablecoins, or cryptocurrencies such as Tether and USDC, which have surpassed all previous records in recent months. As of December 19, 2023, only six nations had legislation or regulation regarding stablecoins, according to the PwC Global Crypto […]