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Recently, Binance has made efforts to increase its commitment to compliance, growing its security and compliance staff by 500% in 2022. Additionally, last fall the company assembled a global advisory board chaired by Max Baucus, a former Democratic senator from Montana. Meanwhile, the exchange seems eager to improve its relations
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Cathie Wood’s ARK Invest continues to buy on Coinbase’s dip, adding $3.2 million of the crypto exchange’s shares to its portfolio. The investment firm now holds 5.8 million shares. This comes on top of two recent purchases, as the fund increases its holdings of the stock while the share price
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As the cryptoworld focused on the drama unfolding around FTX, United States Sen. Elizabeth Warren and Sen. Roger Marshall introduced the “Digital Asset Anti-Money Laundering Act of 2022” on Dec. 14. The seven-page bill would expand the classification of money service business (MSB), prohibit financial institutions from using technology such
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"As has been well documented, regulators across the globe are reaching out to every major crypto exchange to better understand our industry. This is a standard process for any regulated organization and we work with agencies regularly to address any outstanding questions," a Binance spokesperson said. Source
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The world's largest crypto exchange by value traded has been loose on its prevention of money laundering, Reuters reported. Original Source
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Just last week, the bloc provisionally agreed on new laws designed to license crypto companies, known as the Markets in Crypto Assets Regulation (MiCA), and impose identity checks on transactions. But the European Commission was keen to leave detailed money-laundering procedures for a wider overhaul that also covers sectors such
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“The amount and type of extra personal information we would be required to collect from our users would alter the current user experience so radically, and so negatively, that we are not willing to force this onto our community,” the company said in a statement, adding the team never charged
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