Wash trading is a dominant form of fraud in the young NFT marketplace, and has already yielded scammers millions in illicit gains. In this post, we explain what wash trading is and how to warn your customers about it. If you’ve been keeping an ear on NFTs, then you’ve probably heard about something called “wash […]
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It is becoming increasingly common for cryptocurrency mining operations to adopt some AML compliance controls. But which controls make the most sense, and how will you know when your business requires them? While cryptocurrency mining operations aren’t technically required to adopt AML compliance countermeasures, many are choosing to implement some basic protocols in order to protect themselves […]
Read More… from Do crypto miners need AML Compliance programs? Officially, no (unofficially, yes)
Keeping up with new trends in transaction monitoring is a constant challenge. These new red flags will help you update your surveillance and monitoring protocols to keep pace with evolving trends in the cryptocurrency market. We’ve written an article for 2023: Updated Red Flags for Improved Crypto Transaction Monitoring in 2023 Proactivity is key […]
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The cryptocurrency market saw some big shifts in 2021, and regulators took notice. As we enter 2022, expect a much more engaged regulatory presence than ever before. Here are some of the trends to get ahead of this year. The crypto space has changed a lot over the past year, and that’s putting it mildly. […]
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NFTs are here to stay. But regulators are beginning to crack down on financial crime in the space. If you work with NFTs, here’s what your business needs to do to keep operations above board and compliant. Reports of rampant money laundering, wash trading, and fraud have led to increased scrutiny on the NFT marketplace […]
Read More… from The NFT market needs AML compliance. Here’s what businesses should do.
A recent report shows good news for the crypto industry: crime is down dramatically. Except in one area, where it has increased 4x. Here’s what business owners need to know to tighten their compliance against this archetype. Safe and secure transactions are key to the cryptocurrency industry’s long-term legitimacy and widespread consumer adoption. So a […]
Read More… from Crypto crime is down, but crypto scammers are getting smarter
Cryptocurrency and cannabis are both growing industries amid much legal and regulatory uncertainty. But if you want to work with cannabis companies, it is possible to do so within compliance. Here are some suggestions. A few years ago, we wrote a blog post about the compliance implications of cryptocurrency businesses operating in states where recreational […]
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As the debate over non-fungible tokens (NFTs) in cryptocurrency ramps up, some businesses are wondering what their AML compliance obligations are. The cryptocurrency industry has given rise to innovative (and interesting) new applications of blockchain technology. One of the most popular of late is the non-fungible token, or NFT, trend. Even among experienced professionals within the […]
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Financial institution emphasizes regulatory compliance as a key to long-term growth in the cryptocurrency space Roseville, CA — June 07, 2021—ComplyFit, the leader in money transmitter license maintenance tools, announced a new partnership with CoinZoom, a U.S.-based cryptocurrency exchange and leading fintech company, to evolve the latter’s regulatory compliance capabilities using its unique state money […]
