South Korea's extensive probe into the LUNA and UST meltdown is gaining ground with the arrest of Do Kwon's key aide, Yoo Mo, who is being accused of fraud and inflating token prices using bots.
Ireland to enforce AML checks for digital currency firms from April coingeek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coingeek.com Daily Mail and Mail on Sunday newspapers.
Massive anti-money laundering reform suggests busy year for US regulators Business
The United States has passed huge reforms to its anti-money laundering regime, bringing digital asset exchanges and others dealing in digital assets further within the reach of regulators. The reforms, introduced via the Anti Money Laundering Act of 2020, became law on January 1, 2021, as part of the country’s sweeping annual defense bill.
The reforms address the Bank Secrecy Act (BSA), a central pillar of the U.S. AML regime. You might recall that the Bank Secrecy Act obliges financial institutions such as digital asset exchanges to actively detect, monitor and report potential money laundering activity. It is the tool being used to prosecute the BitMEX founders for willfully failing to implement anti-money laundering measures as required by law. Violations of the Bank Secrecy Act can result in criminal fines, jail time, or both.