AML News

Anti-money laundering or AML is a set of regulations, instructions, laws and procedures, established to prevent the practice of generating illegal income and its legalization through specially designed actions. AML regulations oblige companies and financial institutions to vet their customers through due-diligence procedures and prove the legal source of a customer’s assets. Financial institutions must verify the origin of large sums of money, track suspicious activities and report large cash transactions. It’s also the responsibility of institutions to notify customers about AML practices and required procedures. AML is considered to be not only useful in stopping money laundering itself, but also in preventing illegal activities by discovering the source of this money, and helps to trace criminals through the tracking of financial flows. Still, AML is a strain on companies and may cause its development to slow down.

News
As everyone waits on new KYC and AML regulators, many speak out to keep unhosted wallets free of controls.
Crypto lobby defends self-hosted wallets and P2P from rumored gov't crackdown
Kollen Post
2020-11-18T19:00:44+00:00
5169
News
Unique in Europe, the Dutch central bank now requires Bitcoin exchanges to prove that their users actually control their withdrawal addresses.
Dutch Bitcoin firm reluctantly tightens rules at central bank’s behest
Marie Huillet
2020-11-18T12:41:22+00:00
6294
Analysis
The delisting of Dash and Zcash has some wondering about the future of privacy coins on major exchanges.
Dash claims ‘inaccurate categorization’ as ShapeShift delists privacy coins
Rachel Wolfson
2020-11-16T14:00:00+00:00
11967
News
David Lewis, executive secretary and G20 deputy at the Financial Action Task Force, says crypto firms still have a long way to go before they're compliant.
Crypto firms still not widely adopting ‘travel rule,’ says FATF deputy
Marie Huillet
2020-11-16T10:23:54+00:00
5262
Newsletter
In the U.S., all eyes are on Joe Biden's planned appointees, while Europe is seeing progress under a new AML regime.
Law Decoded: Of AML and appointees, Nov. 6–13
Kollen Post
2020-11-13T19:52:54+00:00
5762
News
New technology will help screen out bad actors, BitMEX says.
BitMEX crypto exchange steps up AML and trade surveillance measures
Helen Partz
2020-11-12T12:51:30+00:00
3361
Newsletter
With the election taking all the air out of the room, we look at what new appointments at the DoJ could mean.
Law Decoded: New administration and the DoJ’s continued flex in crypto, Oct. 30–Nov. 6
Kollen Post
2020-11-06T20:35:20+00:00
5791
Opinion
The lightchain-vs.-darkchain dichotomy is counterproductive, and a healthy graychain will produce more valuable crypto assets like Bitcoin.
The crypto compliance lie: Sacrificing privacy does not make us safer
Zachary Kelman
2020-10-31T15:00:00+00:00
5002

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