“We hope that this order will significantly reduce transfer blocks and the denial of banking services experienced by crypto users and investors, and create a better atmosphere for investors, users and companies in the field,” said Youval Rouach, CEO of Israeli crypto exchange Bits of Gold, in a written statement. Source link … [Read more...] about Israel’s New AML Rules May Help Banks Onboard Crypto Clients
AML
Cryptocurrency AML Specialist Notabene Raises $10M
Crypto exchanges Luno and Bitso, who are Notabene customers, also took part alongside Blockfi, Gemini Frontier Fund, Illuminate Financial, CMT Digital, Fenbushi Capital and ComplyAdvantage CEO Charlie Delingpole. Existing investors Castle Island Ventures and Green Visor Capital also participated. Source link … [Read more...] about Cryptocurrency AML Specialist Notabene Raises $10M
FinCEN lists cryptocurrencies as top AML and CFT priorities
The United States’ Financial Crimes Enforcement Network will continue to closely follow the cryptocurrency industry as one of its top priorities for combating crimes like money laundering.FinCEN officially announced Thursday that “virtual currency considerations,” or operations involving cryptocurrencies like Bitcoin (BTC), will be among its top national priorities for … [Read more...] about FinCEN lists cryptocurrencies as top AML and CFT priorities
Crypto firms not meeting AML standards, says UK minister
Cryptocurrency businesses in the United Kingdom have been struggling to meet Anti-Money Laundering standards set by the Financial Conduct Authority, according to a senior official.John Glen, a member of U.K. Parliament and the economic secretary to the Treasury, pointed out major difficulties in the process of registering crypto firms under the FCA’s AML regulations in official … [Read more...] about Crypto firms not meeting AML standards, says UK minister