Finextra

AUGUST 4, 2025

For instance, firms in EMEA spent $85 billion on AML efforts in 2023 and compliance can average ~19% of a financial firm’s annual revenue. Beneath the surface lie “hidden” costs of AML compliance that often go overlooked on the balance sheet but significantly drag down efficiency and growth. of IT budgets in that period).

AML

Finextra

JUNE 6, 2025

Selecting a trustworthy cryptocurrency exchange website has become a critical decision for investors – one that directly impacts both portfolio security and trading success. The Commodity Futures Trading Commission (CFTC) for commodity-based cryptocurrencies. State-level money transmitter licenses.

Cryptocurrency

Fintech Weekly

JULY 17, 2025

Let’s get into what the CLARITY act is, what it means for cryptocurrency, and why it still matters even if you’re not based in the USA. Align your compliance practices with global AML and KYC standards. Because of its distributed ledger system, Blockchain. Because of its distributed ledger system, Blockchain.

Blockchain

Finextra

AUGUST 11, 2025

Paxos - which provides blockchain and stablecoin infrastructure and is behind PayPals PYUSD - first applied for a national trust bank charter in 2020, receiving preliminary approval from the OCC before the application eventually expired. " Last week, Paxos reached a $48.5

Office of the Comptroller of the Currency

PYMNTS

DECEMBER 8, 2020

The latest arena for money laundering is through cryptocurrency , a burgeoning market expected to be valued at $1.4 Experts estimate that cryptocurrency-related crimes totaled $4.3 billion in laundered money , with this problem only expected to grow as cryptocurrencies grow more popular. Developments Around The AML/KYC Space.

AML

PYMNTS

DECEMBER 10, 2020

Cryptocurrency is one of the fastest-moving industries in the digital world, with a market that was valued at $1.03 Bitcoin is one of the most famous names in the cryptocurrency space, accounting for $6 billion in daily transactions among 153 million registered user addresses. Cryptocurrency-related crimes totaled $4.3

AML

Payments Source

JUNE 11, 2018

Since addresses are recorded in the blockchain, it is possible to trace each transaction where the address was used, which aids in AML, according to Ron Teicher, CEO of EverCompliant.

Blockchain

PYMNTS

JUNE 26, 2020

The company will also tell the agency about any intentions for any kind of cryptocurrency issuance in the three years to come. billion raise to back the creation of its Telegram One Network (TON) blockchain initiative. Securities and Exchange Commission (SEC) settlement over an unsuccessful token offering, Coindesk reported.

Money Laundering

Clearly Payments

MARCH 11, 2024

In recent years, the rise of cryptocurrency has redefined traditional notions of currency and payment systems worldwide. Cryptocurrency, such as Bitcoin, Ethereum, and others, operates on decentralized blockchain networks, enabling secure, peer-to-peer transactions without the need for intermediaries like banks or financial institutions.

Cryptocurrency

PYMNTS

SEPTEMBER 21, 2018

Switzerland is reportedly exploring ways to make it easier for blockchain companies to open corporate bank accounts as the government moves to prevent those innovators from leaving the country. Experts said blockchain innovators struggling to access the traditional financial services sector have been pushed out because of it.

Blockchain

PYMNTS

JULY 21, 2020

Crypto boosters have spent the better part of the past decade promoting the idea that great fiat-currency disruptions are coming care of blockchain and literally hundreds of thousands of variations of cryptocurrency circulating in the world today. Or at least they didn’t until now. Crypto’s Path To Spendability.

Visa

CB Insights

OCTOBER 29, 2020

This massive market, which includes a broad range of financial “plumbing” services, could be poised for a blockchain shake-up. But a growing number of companies want to employ distributed ledger technology (DLT) — which uses tech like blockchain to offer a simpler, streamlined way to verify transactions — to upend this status quo.

Real Time Gross Settlement (RTGS)

PYMNTS

JANUARY 26, 2021

Signal is exploring the idea of adding cryptocurrency payments into its messaging app by integrating MobileCoin , a cryptocurrency supported by the Stellar blockchain, Platformer reported. Signal CEO Moxie Marlinspike “played down,” the cryptocurrency developments, telling Platformer it was only some “design explorations.”.

Wire Transfer

CB Insights

NOVEMBER 5, 2020

Distributed ledger technology (DLT) — which uses tech like blockchain to verify transactions without the need for a centralized authority — is gaining traction as a way to revamp capital markets infrastructure by making it more streamlined, improving transparency, and reducing associated fees. Submit your application here before November 25.

Real Time Gross Settlement (RTGS)

Fintech News

JULY 17, 2024

The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. These services blend the cryptocurrencies of many users together, making it difficult to trace the origin of funds. Usage of mixers peaked in 2022, with over US$1.5

Money Laundering

PYMNTS

MAY 8, 2018

DMG Blockchain Solutions announced a new tool for crypto exchanges and enterprise payment platforms that facilitate cryptocurrency transactions aimed at enabling anti-money laundering (AML) and anti-fraud capabilities for users. Regulatory compliance for crypto exchanges is an emerging focus for industry players.

AML

PYMNTS

OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. However, Swiss officials recently took steps to get ahead of the regulatory uncertainty surrounding the world of blockchain, focusing on a particularly large hurdle for companies in the industry.

Cryptocurrency

PYMNTS

DECEMBER 11, 2020

PYMNTS December 2020 AML/KYC Tracker® done in collaboration with Trulioo probes the heightened fraud climate accompanying the mobile-digital shift, zeroing in on key aspects of prevailing in the digital fraud wars. This distrust is reflected in usage rates among businesses,” 23 percent of which don’t use automated AML processes.

Money Laundering

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The projected 2020 cost of AML compliance across all U.S. The drivers of AML initiatives in the U.S. financial institutions (77 percent) for AML compliance.

Procedures

PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept.

Treasury

FICO

DECEMBER 17, 2020

Cryptocurrency exchange rates have skyrocketed in the past month. According to a recent report , the total of cryptocurrency related frauds and thefts stands at a staggering $7.69b. At the same time, all top US banks now have customers transacting in cryptocurrency through virtual asset service providers (VASP’s).

Cryptocurrency

Fintech News

JUNE 3, 2024

The report, titled “Top Trends Shaping Anti-Money Laundering in Asia-Pacific in 2024”, delves into the key trends, technology adoption, and regulatory imperatives shaping the anti-money laundering (AML) market in APAC. Blockchain analysis firm Chainalysis estimates that money laundering activity involving cryptocurrency totaled US$22.2

Money Laundering

Finovate

MARCH 20, 2024

This week in Tales from the Crypto we look at the boom-induced traffic jam in crypto coin trading, new funding for a blockchain payment network in the developing world, and a pair of new crypto-friendly alums that demoed at FinovateEurope last month. Layer-1 blockchain Solana has experienced service issues as well.

Blockchain

PYMNTS

DECEMBER 16, 2020

American Express Ventures has invested in cryptocurrency exchange platform FalconX , according to a press release. FalconX offers its institutional clients an integrated platform that services cryptocurrency trading, clearing and credit. In other news, the U.S. customers. “It users to avoid running into potential compliance issues.

Blockchain

PYMNTS

JANUARY 6, 2019

The China Banking Association (CBA) has announced the launch of a blockchain-based platform for trade finance. And while crypto companies are working to strengthen their anti-money laundering (AML) protections, a Cointelegraph report shows that many of the world’s biggest banks still have a lot of work to do.

Stablecoins

PYMNTS

AUGUST 18, 2020

Binance helped catch a purported cybercrime organization behind an alleged $42 million laundering effort, according to a statement from the cryptocurrency exchange. The firm indicated that Bulletproof Exchangers are renowned for lax anti-money laundering (AML) and know-your-customer (KYC) procedures. Moller – Maersk together.

Blockchain

PYMNTS

MAY 6, 2020

Irish bitcoin ATM operator Boinnex found itself facing roadblocks from Allied Irish Banks (AIB), which shut down its account and said it didn’t want to deal with an unregulated form like cryptocurrency, according to CoinDesk. Cryptocurrency still isn’t recognized by the Central Bank of Ireland as a legitimate form of payment.

Bitcoin

Fintech Finance

DECEMBER 9, 2024

AGENDA HIGHLIGHTS: The Next Generation of Payments Enhancing Convenient and Secure Access to Financial Services The Next Digital Revolution Global Mobile Wallets and Super-apps Blockchain and Cryptocurrency Adoption Cross-Border Payment Innovations The Future of Financial Crime Levels of Connection – 2.0

Office of the Comptroller of the Currency

Fintech News

JANUARY 24, 2024

On January 14, 2019, the Singapore Parliament passed its comprehensive Payment Services Act (PS Act), replacing the former Payment Systems Oversight Act and Money-Changing and Remittance Businesses Act to broaden the scope of regulated payment activities to include emerging trends and industries like digital assets and cryptocurrencies.

Service Provider

PYMNTS

MAY 26, 2017

The latest technological finance breakthrough, blockchain technology, has been a slow burn over the past eight years, since 2009 when it popped up as the power behind bitcoins. With the various advances in technology, many issues have come to light from the use of blockchain. years away) if blockchain technology were implemented.

Blockchain

Fintech News

JULY 3, 2024

Singapore, long known for its financial prowess and technological innovation, has emerged as an unexpected leader in cryptocurrency adoption. From the bustling streets of Marina Bay to the fintech hubs in the Central Business District, cryptocurrency has woven itself into the fabric of Singaporean life.

Financial Literacy

PYMNTS

DECEMBER 9, 2020

Blockchain trade technology firm XREX has rolled out a cryptocurrency Exchange-as-a-Service (EaaS) technology called MyXchange. Sum&Substance KYC and CipherTrace AML fuels all XREX platforms, according to the post, which notes that XREX is working with TRISA.io as the FATF Travel Rule solution.

AML

PYMNTS

SEPTEMBER 4, 2019

Cryptocurrency firms doing business in the Netherlands will soon be required to register with Dutch Central Bank , according to CoinDesk. The move comes as the European Union has passed tougher anti-money laundering (AML) laws. 10, 2020.

Central Bank

Fintech News

JUNE 19, 2024

Be it central bank digital currencies (CBDCs), a tokenised digital Singapore Dollar, or various initiatives backed by governmental regulators, stablecoins are one of the more pivotal developments in the world of cryptocurrencies and blockchain technology. It has already arrived.”

Stablecoins

The Fintech Times

SEPTEMBER 14, 2024

Fintech in Taiwan In 2019, Taiwan’s financial industry spent over $700million on fintech research and development (R&D), as well as AI, AML, biometrics, blockchain, cloud services, cybersecurity, payment and regtech solutions. However, in Taiwan, cryptocurrencies are not regulated as legal tender.

Innovation

PYMNTS

DECEMBER 22, 2019

The French Financial Markets Authority (AMF) announced that it approved its first initial coin offering (ICO) — “ICO visa” — to the cryptocurrency fundraising platform French ICO. . Patent and Trademark Office (USPTO) to make its blockchain faster and safer, Coindesk reported.

Blockchain

PYMNTS

JANUARY 25, 2019

Chainalysis unveiled an anti-money laundering (AML) compliance solution for stablecoins called Know Your Transaction (KYT), the company said in an announcement. IBM has teamed up with banks and insurers to create a blockchain system for the healthcare space, according to an announcement. ”

Blockchain