The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has fined peer-to-peer crypto market Paxful $3.5 million. Key Takeaways: FinCEN fined Paxful $3.5M for willfully enabling over $500M in suspicious crypto transfers. Regulators mentioned Paxful ignored fundamental AML guidelines, together with MSB registration and SAR filings. Paxful later shut down amid regulatory stress, workers losses, and…
Turkey is about to grant its monetary crime authority, Masak, the ability to freeze and restrict entry to crypto accounts as a part of efforts to fight cash laundering and monetary crime. According to Bloomberg Law, the proposed measures comply with anti-money laundering requirements established by the Financial Action Task Force (FATF). The measures are…
AUSTRAC has directed Binance Australia to nominate an exterior auditor after figuring out “critical considerations” with the world’s largest crypto trade’s anti-money laundering (AML) and counter-terrorism financing controls. Investbybit Pty Ltd, Binance’s Australian arm, has 28 days to appoint exterior auditors for AUSTRAC’s consideration and choice following regulatory engagement throughout the precedence sector. World Alternate…