Cryptocurrency is a promising asset class for people and investors, but the lack of proper regulation slows down its innovation.
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Binance-owned Indian exchange WazirX investigated for alleged AML failings
India’s Enforcement Directorate will probe crypto exchange WazirX for alleged violations of AML laws and FEMA in connection with crypto transactions worth $389 million.
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51 crypto firms withdraw licensing applications in the UK
The inability to satisfy Anti-Money Laundering standards set by regulators in the United Kingdom is reportedly forcing many crypto companies out of business.
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UK Regulator Extends Temporary Registrations Regime as Crypto Firms Fail to Meet AML Rules
Many companies operating with cryptocurrencies are not meeting anti-money laundering regulations, the U.K.’s Financial Conduct Authority revealed. The government agency has extended its temporary registration
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UK FCA buys another 9 months to review crypto companies’ registrations
The Temporary Registrations Regime’s end date for crypto companies has been pushed to March 2022.
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Crypto firms not meeting AML standards, says UK minister
Only five crypto firms have received FCA AML registration after the authority became the official money laundering supervisor for crypto businesses last year.
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