All Cryptocurrency articles – Page 9
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ArticleQ1 roundup: SEC tackles climate disclosures, businesses navigate Russia restrictions, more
Regulation and guidance from U.S. agencies and the White House, plus compliance challenges stemming from a two-year global pandemic and Russia’s ongoing invasion of Ukraine, made the first quarter of 2022 a novel risk environment for regulated businesses.
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ArticleReport: Number of AML fines up, penalty totals down in 2021
The number of anti-money laundering fines assessed against financial institutions globally reached its highest amount in six years during 2021, though the penalty amounts associated with those enforcement actions dropped notably, according to Kroll’s annual benchmark report.
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Hashdex names global head of legal and compliance
Hashdex, a crypto-focused asset management firm announced the appointment of Nicole Dyskant as global head of legal and compliance.
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ArticleBiden executive order seeks to study crypto, evaluate Fed-backed digital currency
President Joe Biden has ordered federal regulators to study the risks and potential benefits of digital assets and their underlying technology while encouraging the Federal Reserve to continue evaluating the creation of a federally backed digital currency.
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ArticleNYDFS investigating Coinbase’s compliance practices
The New York State Department of Financial Services has initiated an investigation into cryptocurrency exchange platform Coinbase relating to its compliance program.
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ArticleBitMEX founders fined $10M each for flouting AML rules
Arthur Hayes and Benjamin Delo, co-founders of cryptocurrency exchange and derivative trading platform BitMEX, were each fined $10 million as part of guilty pleas for anti-money laundering violations under the Bank Secrecy Act.
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Coinme hires chief compliance officer
Coinme, a U.S.-based cryptocurrency cash exchange, announced Brian Reisbeck has joined the company as its new chief compliance officer.
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ArticleTRUST: A solution to crypto’s Travel Rule dilemma
Jennifer Lee, head of compliance at Anchorage Digital, highlights the launch of the Travel Rule Universal Solution Technology as “the clearest sign yet that digital asset players, as an industry, not as individual companies, truly care about compliance.”
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Binance.US hires chief compliance officer
The U.S. arm of cryptocurrency exchange Binance has appointed Tammy Weinrib as chief compliance officer.
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DOJ names head of crypto enforcement team
The Department of Justice named veteran prosecutor Eun Young Choi to serve as the first director of its newly created National Cryptocurrency Enforcement Team.
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ArticleBlockFi ruling leaves big crypto question unresolved
The SEC’s determination regarding BlockFi’s crypto lending product is a landmark resolution, yet the ruling does little to settle the larger question still looming: Are cryptocurrencies securities or currencies?
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ArticleSEC, states fine BlockFi $100M; crypto lending product declared a security
BlockFi Lending agreed to pay $100 million in penalties as part of a first-of-its-kind case in which the Securities and Exchange Commission declared a type of cryptocurrency lending product should be registered as a security.
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ArticleDOJ arrests in Bitfinex case highlight inner workings of crypto laundering scheme
The Department of Justice arrested two individuals over an alleged conspiracy to launder approximately $4.5 billion worth of cryptocurrency stolen in the 2016 hack of digital asset trading platform Bitfinex.
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BitMEX adds chief risk officer
Cryptocurrency platform BitMEX has hired Marcus Hughes as chief risk officer. Hughes will serve on the executive board, with responsibility for BitMEX’s regulatory affairs, risk, legal, and compliance functions.
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ArticleReport: Cryptocurrency-related crime reaches record $14B in 2021
The amount of illicit cryptocurrency transactions reached an all-time high in 2021 at $14 billion, according to a Chainalysis study due out next month. The rise coincides with significant increases in the overall volume of crypto transactions.
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ArticleICA: Three major compliance talking points from 2021
With 2021 nearing its end, Jon Prentice of the International Compliance Association recaps three major compliance topics and talking points that have stood out this year.
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ArticleDiMauro: Seven compliance areas to watch in 2022
If 2021 was about transition under the Biden administration, 2022 is looking as if it will be a year of action. CW Director of Compliance Programs & Training Julie DiMauro shares her list of key areas she expects to receive enhanced scrutiny in the year ahead.
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Binance.US adds former Intel CCO as first chief risk officer
Cryptocurrency exchange platform Binance.US has added Sidney Majalya to its leadership team as its first chief risk officer. Majalya most recently served as vice president, legal and chief compliance officer at Intel Corp.
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SEC fall rulemaking list draws Republican commissioner criticism over priorities
The SEC’s updated fall rulemaking list suggests the agency will push forward with an aggressive agenda in 2022 that will include mandated ESG disclosures and further attempts to walk back rule changes implemented under Republican control.
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ArticleCCO Q&A: How Prime Trust is managing compliance in evolving crypto space
Compliance Week discusses with Nirvana Patel, chief compliance officer and BSA officer at Prime Trust, the unique challenges of practicing compliance in the cryptocurrency industry and his thoughts on the regulatory landscape moving forward.