The head of the Mexican Financial Intelligence Unit, Santiago Nieto Castillo, stated that the 12 exchanges were operating illegally during a recent event focused on financial intelligence and risk management.
Documents published by the European Union show plans are already at a developed stage for the body, which would seek to enforce new rules on the transparency of digital currency asset transfers.
In his confirmation hearing before the Senate Banking Committee, Brian Nelson said he would make implementing new anti-money laundering legislation a top priority as he moved into the post.
The revised guidance comes after a 12-month review of the initial release, which found that some jurisdictions’ AML and CFT regimes with respect to digital assets were still underdeveloped or not developed at all.
Compliance officers at financial institutions feel they still have a low understanding of digital assets, blockchain, and their surrounding legal issues.
The new guidelines include the need to apply for an operating license, the minimum capital for service providers and stringent anti-money laundering programs.
Two Democrats have asked the White House to provide further details on a recent significant seizure of digital currencies.
New proposals from the U.K.’s financial regulator could see more firms required to report on managing the risks of financial crimes.
Terrorist groups allegedly solicited social media users for donations, posing as organizations seeking to help victims of Syria conflict.
The ban has been introduced to prevent the use of digital currency for money laundering, terrorism financing and the drugs trade.
Rand research listed three illicit use-cases for digital currencies: money laundering, trade in illicit goods and services, and terrorism financing.