AntiMoney

Congress Debates Stablecoin Regulations and Enhanced Anti-Money Laundering Measures

by

Washington, D.C. – In a significant move reflecting the growing scrutiny under which the cryptocurrency sector finds itself, the U.S. House of Representatives is evaluating measures to tighten regulations on stablecoins and enhance anti-money laundering controls. This action comes as lawmakers and regulators aim to address the volatile nature of digital currencies and the potential risks they pose to the financial system. The proposed legislative efforts focus primarily on stablecoins, a type of cryptocurrency designed to maintain a consistent value by being pegged to traditional assets like the U.S. dollar. These digital assets have surged … Read more

China Set to Overhaul Anti-Money Laundering Rules, Eyeing Key Changes in Financial Data Privacy

by

Beijing, China — China is set to consider comprehensive reforms to its anti-money laundering (AML) regulations, a move that indicates growing attention to financial security and data privacy. The review of the proposed updates will be conducted by the Standing Committee of the National People’s Congress, emphasizing the importance the nation places on enhancing its financial regulatory framework. Huang Haihua, spokesperson for the Legislative Affairs Commission, announced that the draft amendments, which entail substantial changes to the current law, will be up for review next week. While specific details of the revisions are still under … Read more

Ireland Races to Establish Crypto Regulations Ahead of Incoming EU Anti-Money Laundering Directives

by

Dublin, Ireland – Amid growing concerns over financial crimes and investor protection, the Irish government is in the process of drafting urgent cryptocurrency legislation. This move comes ahead of the anticipated comprehensive anti-money laundering regulations by the European Union, reflecting Ireland’s proactive approach to addressing both the risks and opportunities presented by digital currencies. As digital assets continue to gain traction on global financial markets, they also bring a variety of challenges, especially concerning money laundering and other illicit activities. In response, the Irish cabinet has already approved early legal frameworks specifically targeting these threats … Read more

Nevada Regulators Accuse Resorts World Las Vegas of Anti-Money Laundering Violations, Seek Multi-Million Dollar Fine

by

Las Vegas, Nevada — Nevada’s gaming regulators have lodged a formidable 12-count disciplinary complaint against Resorts World Las Vegas and its parent company, Malaysia-based Genting Berhad, accusing them of multiple breaches of federal anti-money laundering regulations. Allegations suggest that Resorts World allowed notorious illegal bookmakers to wager large sums, running into millions, at their Las Vegas location over a period extending more than a year. The Gaming Control Board, which filed the 31-page complaint on Thursday, is pushing for a substantial, albeit undisclosed, multi-million dollar fine. Additionally, they’re calling for stringent actions against the gaming … Read more