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United States
Anti-Money Laundering
US Regulators Announce $63m Settlement With Silvergate
By Manesh Samtani | 03/07/2024
Silvergate, once a popular bank for crypto firms, agreed to penalties for AML noncompliance and misleading statements to investors.
Cryptocurrency
SEC Lawsuit Against Binance May Proceed, Court Rules
By Manesh Samtani | 03/07/2024
Binance already settled DOJ, Treasury and CFTC charges for $4.3bn, but the SEC’s case was not included in the settlement.
PEPs & Sanctions
Chinese Banks Reducing CNY Trades on Moscow Exchange
By Editors | 03/07/2024
Yuan flows into Russia for oil sales to China are reportedly shifting from the exchange market to the OTC market.
Tokenisation
Trade Bodies to Develop Disclosure Guidelines for Digital Assets
By Editors | 02/07/2024
Four trade associations have organised a Steering Committee to propose new disclosure guidelines for digital asset tokens offered in the US.
Capital Adequacy
US Banks Pass Fed Stress Test, Declare Higher Dividends
By Manesh Samtani | 02/07/2024
The “severely adverse” scenario showed that all 31 big banks tested could absorb nearly $685bn in losses and continue lending.
Supervision & Enforcement
US SEC’s Use of In-house Judges Ruled Unconstitutional
By Editors | 02/07/2024
The ruling curbs the SEC’s internal adjudication powers and is expected to also impact more than two dozen US agencies.
Anti-Money Laundering
FinCEN Proposes Rule to Enhance FIs’ AML/CFT Programmes
By Editors | 02/07/2024
The rule will explicitly require AML/CFT programmes to be “effective, risk-based, and reasonably designed” based on a risk assessment.
Anti-Money Laundering
US Sanctions Two Chinese Nationals for Assisting Sinaloa Cartel
By Editors | 01/07/2024
The sanctions include two China-based targets who helped launder illicit drug proceeds belonging to Mexico’s Sinaloa Cartel.
Cryptocurrency
US Treasury Finalises New Crypto-Tax Regulations
By Nithya Subramanian | 01/07/2024
While the new rule will go into effect for transactions starting in 2025, non-custodial brokers will be subject to a separate set of regulations.
PEPs & Sanctions
US Sanctions 3 Entities, 11 Vessels Over Iran’s ‘Nuclear Escalations’
By Editors | 01/07/2024
US Secretary of State Antony Blinken said Iran’s plans to further expand its nuclear programme “have no credible peaceful purpose”.
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