China’s JunHe Law Firm recently published a report discussing the challenges and opportunities related to anti-money laundering (AML) practices in the context of the digital yuan. The report, co-authored by JunHe’s Partner Chen Xin, raises concerns about the potential vulnerabilities of the digital yuan that could be exploited for illicit activities. One of the major
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Recently, top lawmakers in Russia have confirmed that a “crypto ban” could be implemented as early as September 1st. This ban would involve prohibiting the organization of the circulation of cryptocurrencies in the country, with only digital financial assets issued in Russian jurisdictions being exempt from the new law. The bill is expected to pass
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The cryptocurrency community is buzzing with excitement over a recent deep learning model’s projection of a significant price increase for Bitcoin (BTC) in the near future. According to the model, developed by CryptoQuant, Bitcoin could soar past the $77,000 mark within the next month, setting a new all-time high. This forecast has sparked a sense
US Senators Elizabeth Warren (D-Mass.) and Bill Cassidy (R-La.) have come together to urge US authorities to take action against the use of cryptocurrencies in the illegal trade of child sexual abuse material (CSAM). In a bipartisan letter to Attorney General Merrick Garland and Secretary of Homeland Security Alejandro Mayorkas, the senators emphasized the role
In recent news, the European Union (EU) has formally passed a new anti-money laundering regulation (AMLR) that will have significant implications for all crypto-asset service providers (CASPs) operating within its jurisdiction. The regulation aims to enhance the powers of Financial Intelligence Units (FIUs) in order to detect and combat money laundering and terrorist financing activities
The recent approval of new Anti-Money Laundering Regulations (AMLR) by the European Parliament is set to have a significant impact on Crypto Asset Service Providers (CASP) in Europe. The regulations will require CASPs to implement stringent Know Your Customer (KYC) procedures in order to combat money laundering effectively. This move aims to enhance due diligence
Recently, Binance’s co-founder and former CEO, Changpeng ‘CZ’ Zhao, issued a letter of apology to the court on April 24. In his letter, Zhao expressed regret for his past decisions and accepted full responsibility for his actions. He acknowledged the need for compliance changes within Binance at an earlier stage and highlighted the introduction of
The Nigerian authorities are ramping up efforts in their crackdown on crypto trading, specifically targeting peer-to-peer (P2P) platforms such as OKX, Binance, KuCoin, and Bybit. A circulating directive on social media platform X has outlined the government’s plans to take action against these exchanges. The Central Bank of Nigeria (CBN) has denied originating the content
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