ChainCatcher news, according to Cointelegraph, Turkey is set to launch new cryptocurrency regulatory legislation in the last week of 2024, inspired by the proactive regulatory developments in major jurisdictions around the world, including Europe.According to the published document, the new rules require users conducting transactions exceeding 15,000 Turkish Lira (approximately 425 USD) to provide their identity information to cryptocurrency service providers in the country.This new Anti-Money Laundering (AML) regulation aims to prevent money laundering and the financing of terrorism through cryptocurrency transactions, and it will come into effect on February 25, 2025.

ChainCatcher message, Binance announced that in order to comply with the new amendment to Taiwan's anti-money laundering law effective on November 30, 2024, all merchants in the New Taiwan Dollar (TWD) market, including cash merchants, who have not obtained P2Pro certification (approved by the Financial Supervisory Commission of Taiwan for anti-money laundering compliance) will have their advertisements removed from Binance P2P's TWD market on November 29, 2024. Affected merchants are prohibited from posting any advertisements related to the New Taiwan Dollar or providing services for buying and selling New Taiwan Dollars and virtual assets on the platform.Binance urges all affected merchants to raise awareness and plan ahead, applying for anti-money laundering registration with the FSC starting from November 30, 2024, and applying for P2Pro merchant status after obtaining approval.

ChainCatcher news, the Financial Supervisory Commission (FSC) of Taiwan will implement new anti-money laundering (AML) rules on November 30, a month earlier than initially planned, as the regulator accelerates its anti-fraud efforts.The new rules require crypto service providers, such as cryptocurrency exchanges, to complete AML compliance registration. Non-compliance may result in penalties, including up to two years of imprisonment and fines of up to 5 million New Taiwan Dollars (approximately 153,700 USD).In a statement on Wednesday, the FSC indicated that overseas "virtual asset service providers" (VASP) must establish a company or branch in accordance with Taiwanese company law and complete the necessary AML registration before conducting business in Taiwan. These new regulations were introduced following amendments to the law in July.

ChainCatcher news, OKX CEO Star stated on social media: "It is a common compliance control practice for OKX to inquire about the source of funds for deposits or withdrawals that trigger suspicious transaction monitoring, which is an obligation that financial institutions must fulfill under anti-money laundering laws and regulations in countries around the world."

ChainCatcher news, according to CoinDesk, India's financial intelligence unit has imposed a fine of $2.2 million on Binance for failing to comply with anti-money laundering regulations. In January 2024, Binance and several other offshore cryptocurrency exchanges were issued a show-cause notice by Indian authorities for "illegal operations" and were subsequently expelled from India.Binance and KuCoin became the first offshore crypto-related entities approved by India's Financial Intelligence Unit (FIU) in May, but on the condition that they pay the fine after a hearing with the FIU.

ChainCatcher message, the Hong Kong Securities and Futures Commission (SFC) issued a statement regarding the end of the grace period for virtual asset trading platforms. The SFC reminds the public that the grace period applicable to virtual asset trading platforms operating in Hong Kong under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (the "AML Ordinance") will end on June 1, 2024.All virtual asset trading platforms operating in Hong Kong must be licensed by the SFC under the AML Ordinance or be applicants that are "deemed to be licensed" virtual asset trading platforms. Operating a virtual asset trading platform in Hong Kong in violation of the AML Ordinance is a criminal offense, and the SFC will take all appropriate actions against any violations.

ChainCatcher News, the U.S. Department of the Treasury has released the 2024 National Strategy for Combating Terrorist and Other Illicit Financing, outlining priorities for combating illicit financing. The Treasury emphasized its ongoing work surrounding cryptocurrencies, including sanctions against certain trading platforms and groups such as Bitzlato and Lazarus, as well as a settlement with Binance.The four priorities of the U.S. Department of the Treasury are to close gaps in anti-money laundering regulations, support a more effective and risk-based framework, enhance the efficiency of law enforcement agencies, and leverage technological innovation. Updating the existing cryptocurrency regulatory framework will support these priorities.

ChainCatcher news, Binance is applying for registration in Taiwan to comply with local anti-money laundering regulations. The Financial Supervisory Commission (FSC) of Taiwan stated in a closed-door meeting on Tuesday that Binance is applying for registration for anti-money laundering compliance.It is reported that Taiwan has required virtual asset service providers (VASP) to comply with anti-money laundering regulations since July 2021. The Financial Supervisory Commission (FSC) was appointed as the main regulatory authority for the cryptocurrency industry in March this year, and the agency stated that it is currently developing a broader set of guidelines related to VASP cryptocurrency transactions and payments.In addition, Binance has collaborated with local law enforcement agencies to combat cybercrime in Taiwan. In June this year, Binance stated that it is working with the Taiwan Criminal Investigation Bureau to share its expertise in combating crimes related to digital assets with over 200 Taiwanese law enforcement officers.

ChainCatcher news, according to Bitcoinist, the President of Peru has issued a new decree stating that all cryptocurrency exchanges operating within the country must comply with anti-money laundering (AML) regulations. According to the decree, virtual asset service providers, including individuals and companies operating in Peru, are now required to report information to the Financial Intelligence Unit (UIF-Peru).The definition of "virtual asset service providers" includes entities engaged in various cryptocurrency-related activities. The decree is now in effect, and UIF-Peru is expected to release more specific guidelines in the coming days to further clarify the obligations and responsibilities of virtual asset service providers in the country.