Tag: AML

Since 2022, the DeFi protocol 1inch has been screening millions of wallets for Anti-Money Laundering (AML) risks using TRM Wallet Screening. Hundreds of high-risk addresses have been identified, and those linked to child sex abuse material vendors, scams, and hacked and stolen funds were the most prevalent among the addresses that 1inch ultimately decided to be barred from accessing its products.

India’s simmering tension with cryptocurrencies reached a boiling point as nine offshore exchanges, including Binance and KuCoin, received stern compliance notices on December 27th, 2023. The stark message: register with Indian authorities and comply with anti-money laundering (AML) and counter-financing of terrorism (CFT) regulations, or face immediate website blocking and potential legal action. This aggressive move signals a major escalation in India’s ongoing regulatory battle with the digital asset industry.