It’s FATF’s Way or the Highway for Crypto Exchanges. That’s a Big Mistake

It’s FATF’s Way or the Highway for Crypto Exchanges. That’s a Big Mistake

Serhii Mokhniev, CAMS, is a regulatory affairs counsel at CEX.IO, a London-based bitcoin exchange.
Rakuten Brings in Compliance Partner for New Crypto Exchange

Rakuten Brings in Compliance Partner for New Crypto Exchange

Japanese e-commerce giant Rakuten, has partnered with blockchain analytics firm CipherTrace to help ensure compliance for its soon-to-go-live cryptocurrency exchange. CipherTrace announced Wednesday that it will help ensure sound anti-money laundering (AML) processes are in place for the firm’s Rakuten Wallet exchange platform, which is based in Tokyo. Rakuten Wallet started accepting account registrations last month from those who have an account at Rakuten Bank or who already have a Rakuten member ID.
Facebook Hires Two of Coinbase’s Former Compliance Managers

Facebook Hires Two of Coinbase’s Former Compliance Managers

Facebook hired two Coinbase veterans to work in compliance this month, and at least one of them is involved with the social media giant’s blockchain effort. Jeff Cartwright left Coinbase in March after nearly five years at the U.S. cryptocurrency exchange in various compliance roles. He joined Facebook as a policy and compliance manager this month, according to his LinkedIn profile.
Binance Teams Up With Elliptic to Bolster AML Compliance

Binance Teams Up With Elliptic to Bolster AML Compliance

As part of its efforts to be regulatory compliant, Malta-based crypto exchange Binance has partnered with Blockchain startup Elliptic. According to a Coindesk report, the partnership will help Binance mitigate anti-money laundering (AML) concerns as it expands into new regions.
Binance’s Compliance Drive Continues With New Elliptic Partnership

Binance’s Compliance Drive Continues With New Elliptic Partnership

Cryptocurrency exchange Binance is continuing to ramp up its regulatory compliance efforts. The exchange has just partnered with blockchain analytics startup Elliptic to boost its compliance and security capabilities, Elliptic announced Thursday. The new partnership – the third relating to compliance in the last two months – will help Binance combat money laundering as it grows into new jurisdictions, the exchange’s chief compliance officer Samuel Lim said. Elliptic’s software helps identify potential transactions linked to illicit activities such as money laundering and terrorist financing, and is claimed to have monitored risks for transactions worth “several trillion dollars.
Binance Partners With CipherTrace in Latest Compliance Push

Binance Partners With CipherTrace in Latest Compliance Push

Malta-based cryptocurrency exchange Binance is embarking on a multi-pronged push to boost compliance procedures across its platform. To that end, Binance is announcing a new partnership with the blockchain analytics firm CipherTrace to enhance anti-money laundering (AML) processes like tracing the source of on-chain funds and matching user IDs to problematic wallet addresses.
Binance Partners With IdentityMind for Enhanced Compliance and Security

Binance Partners With IdentityMind for Enhanced Compliance and Security

Binance has partnered with Medici Ventures’ portfolio company IdentityMind, a risk management and regulatory-technology compliance platform, in a bid to enhance its fraud protection and compliance protocols. The companies announced the deal on March 26, 2019, calling it “a joint mission to help raise the industry’s standard.

Japanese Exchange bitFlyer Approved to Operate in Illinois

Japan's largest Bitcoin and blockchain company, bitFlyer, has now received an official license to operate in the state of Illinois. After receiving a “BitLicense” to operate as a virtual currency exchange in New York in November 2017, the Tokyo-based company has now received approval to operate in 44 states and territories.

New “Semi-Decentralized” Cryptocurrency Exchange Navigates Murky Compliance Waters

Tetra, a new entrant in the cryptocurrency exchange sector, describes itself as a semi-decentralized, peer-to-peer exchange with an emphasis on security and usability: “Tetra will help create the next wave of cryptocoin adoption which will benefit all cryptocurrency users from investors to traders to businesses.
The Basics on FACTS: A New Model for Compliant ICOs

The Basics on FACTS: A New Model for Compliant ICOs

Jaron Lukasiewicz is a co-founder of WRKFLOW, an advisor to several blockchain companies and the founder of Coinsetter, a cryptocurrency exchange sold to Kraken FX. In this opinion piece, Lukasiewicz proposes a way for initial coin offerings to avoid running afoul of securities laws while retaining the practical commercial advantages of tokenization.

FICO Patent Filing Hints at Plans for Bitcoin Exchange Monitoring

The company behind the FICO credit scoring system is looking at how to collect information from bitcoin exchanges as part of a new anti-money laundering product, new public documents show. A patent application from FICO, published September 21, details a programmable system for detecting potentially illicit transactions and flagging them for future review. That information would then be used to develop "threat scores" to be utilized by bank anti-money laundering specialists, according to the filing.