Bank of America backed crypto AML rules but reported over $5 billion in suspicious activity late
In December 2023, Senator Elizabeth Warren requested Bank of America CEO Brian Moynihan whether or not crypto firms dealing with monetary transactions ought to observe the identical anti-money-laundering rules as banks. “Absolutely,” he mentioned. On Oct. 13, Treasury introduced greater than $1.2 billion in penalties in opposition to his financial institution. FinCEN discovered that Bank of America admitted to willfully violating the…
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