Remove Compliance Remove Cryptocurrency Remove Fincen
article thumbnail

Finding Your Crypto Home: What Makes an Exchange Platform Trustworthy

Finextra

Selecting a trustworthy cryptocurrency exchange website has become a critical decision for investors – one that directly impacts both portfolio security and trading success. Unlike fraudulent platforms, reputable exchanges invest in compliance, security infrastructure, and operational transparency.

article thumbnail

Deep Dive: Cracking Down On Cryptocurrency Exchange Cybercrime With AML/KYC Compliance

PYMNTS

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 88
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

OCC, SEC and FinCEN crypto verdicts empower banks, but anger fintechs

Payments Source

Several government agencies have made deeper moves into crypto oversight, leaving a trail of angry executives and unresolved political questions. And there's still no sign of a central bank digital currency, leaving the U.S. at risk of falling behind other countries in the race to support faster payment processing.

Fincen 154
article thumbnail

FinCen Director On Why Casino Cooperation Is Central To Fighting Financial Crime 

PYMNTS

Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. The second was the rise of cryptocurrency (though during his remarks he tended to refer to it as Convertible Virtual Currency or CVC). The first is the rise of mobile gaming and gambling.

Fincen 65
article thumbnail

FinCEN Seeks Enhanced Oversight of Crypto Mixing

Global Fintech & Digital Assets

Yatter , and Deric Behar On October 19, 2023, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a Notice of Proposed Rule Making (NPRM) that would designate as a “primary money laundering concern” all non-US convertible virtual currency [1] mixing (CVC mixing). By Parag Patel , Eric S.

Fincen 52
article thumbnail

Crypto firms can't skirt AML compliance: Fincen chief

Payments Source

Kenneth Blanco's tough comments appeared to target payments providers that offer their users anonymity.

Fincen 67
article thumbnail

Crypto Gets A Second Look From Corporate Investors Seeking Yield And Hedge

PYMNTS

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 129