anti money laundering

Lawyers for former Binance CEO Changpeng Zhao are urging a US judge to reject the Justice Department's request to bar him from returning to his home in the United Arab Emirates until he is sentenced for violating anti-money laundering requirements.Zhao's lawyers in a Thursday filing asked US District Judge Richard Jones in Seattle not to reverse bail conditions set by a magistrate judge on Tuesday that would allow him to leave the US while awaiting sentencing.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

Binance Holdings Ltd. had such lax controls over cryptocurrency transactions on its exchange that terrorists, hackers and sanctions violators used it for years to move billions of dollars, US prosecutors said.Binance and Chief Executive Officer Changpeng Zhao pleaded guilty to criminal charges Tuesday, admitting they failed to take basic anti-money laundering steps that are the bedrock of government efforts to check the flow of dirty money worldwide. Binance will pay $4.3 billion, while Zhao will step down as CEO and pay…

Crypto assets have often drawn criticism from global lawmakers for being an instrument of facilitating anonymous money laundering procedures. Hong Kong, that recently emerged as the most crypto ready nation in the world, has taken a proactive step to ensure that crypto assets are not misused by criminals for moving illicit funds, illegally. Amendments have been made to Hong Kong's Anti-Money Laundering (AML) and Counter-Terrorist Financing (Amendment) Bill 2022, to now include crypto transactions as well.Hong Kong is now…