Oct 18, 2:56 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Ranjitha Shastry 10/18/18 AT 1:55 AM Chainalysis, a cryptocurrency compliance and investigations solution, announced in a press release Wednesday a collaboration with cryptocurrency exchange Binance. Chainalysis said it had completed "a global roll-out" of its compliance solution with Binance. This partnership aims to address hindrances related to cryptocurrencies, regulators, and traditional financial institutions."Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML [anti-money laundering] compliance programs to satisfy regulators globally and build trust with major financial institutions," said Jonathan Levin, co-founder and chief operating officer of Chainalysis.Chainalysis will provide Binance the … [Read more...] about Binance Increases Anti-Money Laundering Measures With New Partnership
Anti money laundering blockchain
Susan Tompor Detroit Free Press Published 2:33 p.m. UTC Jun 28, 2018 Walk into the Shell gas station on the corner of Nine Mile and Greenfield roads in Oak Park, head toward the back of store, and there, next to the Better Made potato chips selling for $1, sits an ATM selling Bitcoin. “The fastest and most secure way to turn your Bitcoin to cash and your cash into Bitcoin,” reads the screen for the Slon BTM. Nothing is all that secure about Bitcoin, a cryptocurrency that had one incredible boom in 2017 and what's looking like one lingering bust in 2018. Bitcoin's price traded as high as nearly $20,000 in late 2017 — up from just $1,000 in early that year. But it's down nearly 70 percent in the past six months. Bitcoin's price was around $7,700 in trading June 5. And it was down to around $6,154 by June 22. Bits of bad news keep piling up. A financial regulator in Japan in late June ordered crypto currency exchanges to stop creating new … [Read more...] about Bitcoin ATMs showing up in odd spots across metro Detroit
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Bitcoin dropped to a more than four-month low on Friday, continuing a downtrend after more negative headlines such as Japan’s financial regulator ordering six digital currency exchanges to make improvements on their anti-money laundering systems. The original virtual currency fell as low as $6,085.59 (£4,589) <BTC=BTSP> on Bitstamp, the lowest since early February and not far from this year’s trough of just below $6,000. It was last down more than 8 percent at $6,177.45. So far in 2018, bitcoin has fallen nearly 56 percent, after soaring more than 1,300 percent last year. The order from Japan’s Financial Services Agency on Friday includes bitFlyer, Inc, one of the country’s largest cryptocurrency exchanges. Early this week, the cryptocurrency world was racked by news South Korean cryptocurrency exchange Bithumb was hacked of 35 billion won ($31.5 million) worth of virtual coins. The Bithumb attack … [Read more...] about Bitcoin falls to four-month low in persistent bearish trend
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Nir Kshetri, University of North Carolina – Greensboro (THE CONVERSATION) Cryptocurrencies like bitcoin are based on systems that are supposed to be inherently protected from fraud. Yet the U.S. Department of Justice has opened a criminal investigation into manipulation of bitcoin prices. How is that sort of activity even possible? From researching blockchain and cryptocurrencies for the past three years, I know that blockchain systems have some immutable security features. For instance, if I sent you some amount of bitcoin, and that transaction were recorded in the blockchain ledger, I couldn’t force the system to give that money back. The technology itself prevents the transaction from being reversed. But that is only true if transactions happen within the system. And there are other elements of cryptocurrency technologies that actually make fraud easier. … [Read more...] about How can criminals manipulate cryptocurrency markets?
NEW YORK--(BUSINESS WIRE)--May 18, 2018--Risk management is a core competency for AML professionals, and the need to track evolving regulatory expectations is a key component in defining an organization’s risk management profile. This year’s ACAMS 6th Annual AML Risk Management Conference will focus on the applicable solutions needed to strengthen institutional risk management strategies, tackle emerging risk vulnerabilities and meet regulatory compliance challenges. The conference, centered on the theme “Managing Risk Management’s New Era,” will take place at the New York Marriott Marquis, June 8, 2018.“Compliance professionals must know how to manage risk commensurate with their financial institutions’ business lines and risk appetite, and they have to know when to steer their institutions away from inappropriate risk,” said Kieran Beer, director of editorial content at ACAMS. “This conference is all about bringing together … [Read more...] about ACAMS 6th Annual AML Risk Management Conference