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Do All ICO Issuers Have to Register as Money Service Businesses with FinCEN?
  • O'Melveny & Myers LLP
  • USA
  • March 16 2018

ICO issuers commonly screen purchasers in initial token or "coin" offerings (ICOs) for anti-money laundering (AML) and "Know-Your-Customer" (KYC

State Regulators Take First Step to Standardize Licensing Practices for Fintech Payments
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • February 8 2018

Earlier this week, the Conference of State Bank Supervisors (CSBS) announced that seven states have agreed to a multi-state compact that standardizes

Central Bank of Malaysia Issues Standards for Electronic Know-Your-Customer (e-KYC)
  • Baker McKenzie
  • Malaysia
  • December 15 2017

On 5 September 2017, the Assistant Governor of the Central Bank of Malaysia (BNM) announced that BNM will issue regulatory parameters for the conduct

Gambling Commission consults on AML guidance
  • CMS Cameron McKenna Nabarro Olswang LLP
  • United Kingdom
  • August 21 2017

The Gambling Commission is consulting on potential updates to its anti-money Laundering (AML) guidance for remote and non-remote casinos. The

Significant FinCEN Action Against BTC-e, Implications for Virtual Currency Exchangers
  • Steptoe & Johnson LLP
  • USA
  • August 1 2017

The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) assessed a civil monetary penalty of $110,003,314 against Canton

Bitcoin Exchange and Operator Charged With Money Laundering
  • Katten Muchin Rosenman LLP
  • USA
  • July 30 2017

BTC-e, a digital currency exchange, and Alexander Vinnik, who purportedly directed and supervised BTC-e's finances and operations, were criminally

FinCEN, California U.S. Attorney Assess Civil Money Penalties Against Virtual Currency Transmitter and Operator for AML Violations
  • Buckley Sandler LLP
  • USA
  • July 28 2017

On July 27, the Financial Crimes Enforcement Network (FinCEN), in partnership with the U.S. Attorney’s Office for the Northern District of California

The fourth Anti-Money Laundering Directivea risk-based approach
  • Corker Binning
  • United Kingdom, European Union
  • June 20 2017

The EU's fourth Anti-Money Laundering Directive (EU) 2015849 (4AMLD) comes into force on 26 June 2017. Partner Peter Binning says the Directive

Western Union to Pay $586 Million in Restitution and Civil Penalties for AML Compliance Failure
  • Bradley Arant Boult Cummings LLP
  • USA
  • April 20 2017

On Jan. 19, Western Union Financial Services, Inc. agreed to pay civil penalties and restitution to victims of fraud totaling $586 million to resolve

Is Your Data Ready to Move to a Uniform Report Submission? NMLS MSB Call Report Adopted for 22 Licenses as of January 1st
  • Bradley Arant Boult Cummings LLP
  • USA
  • December 16 2016

Seventeen state agencies, affecting 22 license types, have currently committed to adopt the NMLS MSB Call report for Q1 2017 reporting. The NMLS MSB