Binance Applies for Taiwan AML Compliance
According to local sources, Binance is working on becoming compliant with Taiwan’s anti-money laundering (AML) rules. This suggests that the exchange is planning to enter Taiwan’s cryptocurrency industry. During a regulatory draft meeting, the Taiwan Financial Supervisory Commission stated that Binance is among the entities seeking approval for their AML procedures. To enter the region’s […]
India enforces anti-money laundering laws on crypto transactions
The government of India has taken yet another step toward regulating digital assets by imposing money laundering rules on the crypto industry. While needing Anti-Money Laundering (AML) requirements for cryptocurrency is nothing new, it is only now that the Indian government has chosen to inform all interested parties of the requirement to abide by the […]
DeFi Criticized For Restricting User Access
Entrepreneur Brad Mills criticized DeFi for denying users access to decentralized exchanges based on location and wallet content. DeFi is criticized for refusing access to users depending on wallet content Although some argue that restricting users access to decentralized exchanges based on their wallets is a retrograde step, decentralized finance (DeFi) is anticipated to be […]
Countries neglecting crypto AML requirements risk FATF ‘grey list’
According to reports, the Financial Action Task Force (FATF) will monitor countries’ enforcement of anti-money laundering (AML) laws for cryptocurrency providers on an annual basis. The Financial Action Task Force (FATF) may “grey list” nations that don’t follow its anti-money laundering (AML) regulations for cryptocurrencies. Al Jazeera reported on November 7 that sources indicated the […]
Strict FCA AML regulations make ePayments shut down
After three years of operations suspension, the ePayments service is permanently ceasing operations due to its inability to adequately meet FCA regulations. The provider of electronic payments, ePayments , is closing down all of its activities. On Tuesday, ePayments sent email notifications to customers announcing that, according to local laws, it is formally ceasing operations. […]