Georgian banking regulator to tighten AML screws for digital currency firms
Acting Governor of the NBG Archil Mestvirishvili confirmed that the Georgian central bank would float new anti-money laundering (AML) directives in the coming months.
Acting Governor of the NBG Archil Mestvirishvili confirmed that the Georgian central bank would float new anti-money laundering (AML) directives in the coming months.
The previous national digital currency exchange plans drew criticisms over its infrastructure risks and antitrust issues, as well as privacy issues and government surveillance concerns.
May is taking a bad turn on Binance as the exchange is under investigation for violating economic sanctions against Russia, opening up another front in its long-running war against compliance.
Poloniex allegedly allowed users based in Syria, Crimea, Iran, and Sudan to make over $15 million worth of trades on the exchange despite knowing their location, authorities said.
After Russia invades Ukraine, sanctions are back on the agenda, and when it comes to getting around them, misuse of digital assets appears to be essential.
Apart from the four individuals sanctioned by South Korea for plotting and initiating cyberattacks, seven institutions were also penalized for backing North Korea's missile development.
The sanctioned members of the malware gang Trickbot have been listed under OFAC's SDN and will have all their illicit asset gains, which amounted to over $700 million, seized.
The digital ruble has received heightened attention as the government intends to use it to circumvent economic sanctions imposed on it since its war agains Ukraine.
OFAC blacklists the BTC and ETH addresses operated by Jonatan and Vladimirovich Zimenkov, both facing allegations of running a Russian sanctions evasion network.
Efforts to launch the digital ruble are already in place, with testing client-to-business (C2B) operations by selected financial institutions scheduled in the coming months.
The settlement relates to 826 transactions worth $1,680,577.10 which were processed by Kraken on behalf of individuals located in Iran, which has been subject to U.S. sanctions since 1987.
The Central Bank of Russia (CBR)’s report delved into digital asset regulations, retail investor protection, and other facets as it hailed smart contracts.