In a recent meeting, Binance executives met with U.S. Treasury officials to discuss potential changes to the government’s oversight of the company. They asked for the removal of a monitor that oversees their compliance with anti-money laundering laws. Additionally, Binance is in talks to collaborate with President Donald Trump’s crypto venture, World Liberty Financial, which ...
A new report from ResearchAndMarkets.com reveals that the global Market for Currency Exchange Bureau Software was valued at $691.5 million in 2024 and is expected to grow to $945 million by 2030, with a 5.3% annual growth rate. This growth is driven by increased international travel, cross-border e-commerce, and the rising demand for digital financial ...
KuCoin, a major cryptocurrency exchange, has faced significant legal troubles after its operator, PEKEN Global Limited, pleaded guilty to running an unlicensed money-transmitting business. The company agreed to pay $297 million in penalties due to failure in anti-money laundering practices that allowed criminals to launder large sums. The U.S. Department of Justice highlighted that KuCoin ...
Ethiax, a leading global digital currency trading platform, has achieved a significant milestone by obtaining the U.S. Money Services Business (MSB) license. This certification improves its regulatory compliance, offering users a safer and more transparent trading experience. Ethiax emphasizes strict adherence to international regulations, focusing on anti-money laundering, counter-terrorism financing, and customer identity verification. With ...
Steve Marshall, the Director of Advisory Services at FinScan, highlighted the key business themes for 2024, which included rising geopolitical tensions and evolving regulations. The U.S. imposed new sanctions on Russia, Iran, and Venezuela, making compliance more crucial for banks, especially after significant fines for inadequate measures. Regulatory focus also shifted to beneficial ownership reporting ...
