{
Anti-Money Laundering (AML) Regulations

SubCategory

}
binance faces lawsuit in australia for failing to protect retail clients
Binance Australia Derivatives is facing a lawsuit from the Australian Securities and Investments Commission (ASIC) for misclassifying over 500 retail clients as wholesale clients, denying them essential consumer protections. The allegations include failing to provide necessary disclosures and adequate compliance systems, leading to significant financial losses for investors, with Binance compensating affected clients approximately $13 million in 2023. This case is part of broader regulatory efforts by ASIC to enhance oversight of digital assets and protect consumers.
The Crypto Basic - Bitcoin, Cryptocurrency, DeFi Topics And News
AUS NGA Tigran Gambaryan
Regulatory & Legal, News Article
16:43 18.12.2024
Dutch Prosecutors Recommend No Charges Against Former UBS CEO Ralph Hamers
Dutch prosecutors have announced they will request that Ralph Hamers, the former CEO of UBS and ING, not be prosecuted over allegations related to anti-money laundering failures at ING. The court is expected to grant this request, although it retains the authority to make a different decision.
Bloomberg.com
ING Groep NV UBS Group AG NLD Ralph Hamers
Regulatory & Legal, News Article
14:36 18.12.2024
Dutch prosecutors recommend no charges against former UBS CEO Ralph Hamers
Dutch prosecutors have announced they will request that Ralph Hamers, the former CEO of UBS and ING, not be prosecuted over allegations related to anti-money laundering failures at ING. The court is expected to grant this request, although it retains the authority to make a different decision.
Bloomberg.com
ING Groep NV UBS Group AG NLD Ralph Hamers
Regulatory & Legal, News Article
14:36 18.12.2024
Dutch Prosecutors Recommend No Charges Against Former UBS CEO Ralph Hamers
Dutch prosecutors have announced they will request that Ralph Hamers, the former CEO of UBS and ING, not be prosecuted over allegations related to anti-money laundering failures at ING. The court is expected to grant this request, although it retains the option to reject it.
bloomberg.com
United States Dollar Euro ING Groep NV UBS Group AG NLD Ralph Hamers
Regulatory & Legal, News Article
14:36 18.12.2024
Polygon accuses Aave of monopolistic practices in DeFi governance dispute
Polygon has accused Aave of monopolistic practices, claiming the DeFi platform is stifling innovation and using intimidation tactics against competitors like Morpho. Aave's founder defended the protocol's actions as necessary for user protection, rejecting allegations of anti-competitive behavior. Polygon's leadership emphasized their commitment to a decentralized and competitive DeFi ecosystem, vowing to resist any actions that undermine Web3 principles.
CryptoSlate
Polygon USD Aave USD Stani Kulechov Sandeep Nailwal
Regulatory & Legal, News Article
13:38 18.12.2024
Bybit to cease operations in France transferring funds to Coinhouse
Bybit will cease withdrawal and custody services in France by January 8, 2025, amid increasing regulatory pressures. French users must withdraw their assets or verify with Coinhouse to access any unclaimed funds transferred after the service termination. The move follows earlier restrictions on French accounts and highlights the growing scrutiny of crypto platforms in the European market.
Crypto News Flash
FRA
Regulatory & Legal, News Article
13:00 18.12.2024
global regulatory landscape shifts as countries tighten digital asset regulations
Norwegian regulations now mandate data centers to disclose ownership and services, aiming to empower local authorities in decision-making. Meanwhile, global enforcement against digital asset fraud intensified, with the CFTC and SEC reporting record recoveries from scams, including the FTX collapse and Terraform Labs fraud. In the U.K., a proposed bill seeks to classify digital assets as property, addressing legal ambiguities, while China revises AML laws to include virtual assets, maintaining a ban on digital asset transactions.
CoinGeek
Euro British Pound Sterling Indian Rupee United States Dollar Chinese Yuan CHN HKG GBR IND Edgardo Ramos Karianne Tung Terje Aasland Do Kwon Mark Scott Show more
Regulatory & Legal, Market Report
13:00 18.12.2024
Morocco advances crypto regulation to foster innovation and manage risks
Morocco is set to adopt a legal framework regulating crypto-assets, aiming to balance innovation and financial security, as announced by Bank Al-Maghrib Governor Abdellatif Jouahri. Developed with support from the IMF and World Bank, the framework follows G20 recommendations and includes consultations with various stakeholders. This initiative positions Morocco as a leader among developing nations in crypto regulation, while also addressing the growing interest in its secondary market for non-performing loans.
moroccoworldnews.com/
International Monetary Fund FUND Bank AL-Maghrib BANK MAR Abdellatif Jouahri
Regulatory & Legal, News Article
11:15 18.12.2024
esma finalizes guidelines for markets in crypto-assets regulation implementation
The European Securities and Markets Authority (ESMA) has finalized guidelines for the implementation of the Markets in Crypto-Assets Regulation (MiCA), set to take effect on December 30, 2024. This comprehensive framework aims to enhance investor protection, prevent market abuse, and clarify the classification of crypto-assets across EU member states. While it primarily targets centralized services, ESMA is also monitoring decentralized finance (DeFi) and non-fungible tokens (NFTs) for potential future regulation.
CoinCodeCap
European Securities AND Markets Authority Verena Ross
Regulatory & Legal, Market Report
10:44 18.12.2024
ASIC files lawsuit against Binance Australia for misclassifying retail investors
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Binance Australia for misclassifying 505 retail investors as wholesale clients, denying them essential consumer protections. The regulator claims this misclassification occurred between July 2022 and April 2023, affecting 83% of Binance's client base. Binance has reportedly compensated affected clients with approximately $13 million in 2023, amid allegations of inadequate compliance systems and failure to provide necessary disclosures.
CoinCodeCap
AUS Sarah Court
Regulatory & Legal, News Article
10:43 18.12.2024
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MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

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