Tag: AML

Bitcoin Price Flash Crashes 5% as Bears Show Up to the Party

It was only a matter of time before traders decided to take profits and sell while the price was high. After a 6% jump last night as Bitcoin’s ETF decision date is approaching, the bears have made their presence known with the recent selloffs.  When an unexpected price action happens, it is only natural to look for ideas and theories that would explain the market reaction. Currently, one theory for the dropping …
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China’s Fourth Largest Bank Scrutinized By Fed Over AML Compliance

There is something brewing in the traditional financial world that may shake up the balance of things in the coming months. Agricultural Bank of China is one of the four biggest banks in the region, yet they were issued a warning by the Fed. Apparently the bank has some compliance discrepancies in the anti-money laundering sector, an interesting turn of events, to say the least. What Is Going On With …
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FinCEN Proposes New AML Guidelines For Unregulated Financial Service Providers

Various financial services providers in the US are still unregulated to this very day. Some of the Bitcoin companies will certainly fall into this category, but there are also banks that need to step up their game. FinCEN created a new proposal which introduces new AML requirements for these unregulated providers. Although this initiative focuses on banks alone, it is not unlikely this will extend to Bitcoin in the future. …
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Coinfirm Lets Users Analyze Bitcoin Addresses For AML Risks

Analyzing Bitcoin transactions is become the new norm all of a sudden. Even though these transfers have always been publicly available in real-time, more platforms are focusing their attention on de-anonymizing Bitcoin. Coinfirm, a relatively new platform wants to focus on managing risk and compliance for AML reports.  For now, this platform is still in beta, and not all of the existing Bitcoin addresses have been crawled. Coinfirm Monitors Bitcoin …
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