News list for " backwash"
Canada's Financial Transactions Reporting and Reporting Centre has updated its anti-money laundering strategy, highlighting the role of cryptocurrencies in combating synthetic opioid-related money laundering.
The PMLA Special Court for Anti-Money Laundering in India has rejected the release request of Hemant Bhope and his wife Lata, who are said to be charged in connection with one of India's largest Bitcoin Ponzi schemes involving a Delhi-based firm, Variabletech Pvt Ltd (VTPL), in which the defendants conspired to entice investors to buy Bitcoin and encourage others to invest in the company to commit fraud, which is said to be worth up to Rs 66.06 billion.
Coinbase CEO Brian Armstrong said on the X platform that anti-money laundering (AML) regulations are a failed policy that costs about $213 billion a year, harms legitimate consumers (as seen in multiple de-banking incidents), and according to the UN, only stops about 0.2% of illegal activity. This sounds like something the Department of Government Effectiveness (DOGE) should be dealing with.
Anti-Money Laundering (AML) regulations are a failed policy. They cost around $213 billion a year, harm legitimate consumers (as we've seen in these de-banking stories), and, according to the United Nations, stop only about 0.2% of illegal activity. This sounds like something the Department of Government Effectiveness (DOGE) should do.
Notabene, which provides anti-money laundering (AML) services to cryptocurrency companies, completed a $14.50 million Series B round led by DRW Venture Capital, with participation from Apollo, Nextblock, ParaFi Capital, Wintermute, CMT Digital, F-Prime, Green Visor Capital, Illuminate Financial, Jump Capital, Signature Ventures, and Y Combinator.
On August 27th, Catizen announced a long-term cooperation with Eliptic, the largest KYT anti-money laundering platform on the chain. Catizen is currently the most stable revenue and growth project in Telegram and TON ecosystems. After the cooperation with Ellptic, it means that Catizen's super-large-scale on-chain interaction realizes on-chain money laundering risk aversion and becomes the first project in the Telegram mini app ecosystem to complete cryptoasset compliance. Catizen officials said...
On August 9, according to CryptoNews, Kazakhstan's anti-money laundering agency said it has blocked illegal crypto transactions totaling $75.40 million and confirmed 18 criminal cases related to illegal crypto transactions and mining. In 2024, Kazakhstan's courts have handed down six judgments in such cases and confiscated assets worth a total of $2.51 million. In addition, the country also strictly regulates crypto exchanges and mining activities. Crypto exchanges that do not obtain official li...
July 13 news, according to the Financial Action Task Force on Money Laundering (FATF), 97 out of 130 jurisdictions are in "only partial compliance or non-compliance" with anti-money laundering recommendations targeting the virtual asset space. 88 jurisdictions (60%) have decided to allow virtual asset service providers (VASPs), while 14% (20 jurisdictions) have explicitly banned them. The FATF claims that stablecoins and anonymity-enhanced cryptocurrencies are increasingly being used by terroris...
