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compliance

Binance faces mandatory audit in Australia over compliance concerns

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Regulators in Australia have found Binance falling short on key compliance standards, ordering a compulsory external audit. Summary AUSTRAC has directed Binance Australia to appoint an external auditor to strengthen its compliance controls. The regulator flagged limited scope in the exchange’s independent reviews and insufficient local senior management oversight. Authorities emphasized that all crypto exchanges … Read more

Paxos to pay $48 million in New York settlement over AML compliance failures

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Key Takeaways Paxos will pay $48.5 million to settle compliance failures with New York regulators related to its partnership with Binance. The company must strengthen its compliance systems after DFS found failures in due diligence and anti-money laundering controls. Share this article Blockchain infrastructure platform Paxos Trust Company has agreed to a $48.5 million settlement … Read more

Solana staking protocol Marinade achieves SOC 2 Type 2 compliance

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Marinade Finance, a leading Solana staking protocol, has achieved SOC 2 Type 2 compliance after months of rigorous auditing, becoming one of the first in the staking ecosystem to meet this gold-standard security certification. This milestone not only validates its operational excellence and institutional readiness but also clears the way for Marinade to serve as … Read more

Knox lands $6.5M to compete with Palantir in the federal compliance market

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While highly sought after, federal software contracts frequently come with a hidden cost: Achieving government SaaS security compliance, known as FedRAMP, can take years and require substantial resources. Achieving this certification typically takes up to three years and costs more than $3 million, covering everything from security operations engineer salaries to security audits, according to … Read more

Cardano Foundation unveils blockchain-based tool to simplify audit compliance and enhance financial reporting

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Key Takeaways The Cardano Foundation launched Reeve, a blockchain-based tool to streamline ESG reporting and audit compliance. The platform promises several key features, including auditable and compliance-ready data, accessible and verifiable records, and simplified financial reporting. Share this article The Cardano Foundation, one of the main entities dedicated to advancing the Cardano blockchain, has unveiled … Read more

OKX chief executive defends aggressive compliance rules

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If OKX asks you to prove your dad is your dad, don’t take it personally—it’s just compliance. That’s according to OKX CEO Star Xu, who has issued a detailed explanation of the exchange’s compliance and risk control procedures in response to user complaints about account restrictions and verification demands. The statement acknowledges high false-positive rates … Read more

Explainability must be the baseline for AI in compliance

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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Artificial intelligence is supercharging financial crime, and the financial industry’s defenses are falling behind. Criminals now use AI to create convincing deepfakes, craft tailored phishing attacks, and fabricate synthetic identities at scale. … Read more

Compliance is the key to crypto’s mass adoption

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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The original purpose of crypto as a tool to bypass centralized finance and give people control back has evolved beyond its initial user base. According to one report, worldwide crypto ownership exceeds … Read more

SEC Puts Ethereum and Solana ETF Plans on Hold Over Compliance Worries

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The U.S. Securities and Exchange Commission is once again putting the brakes on new crypto ETF proposals. This time, it’s calling out two funds tied to Ethereum and Solana ETFs that were set to offer investors access to staking rewards. The products come from REX Shares and Osprey Funds, and while the ideas sound innovative … Read more

Crypto ATM operators in Australia hit with cash limits and tougher compliance checks

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Australia has introduced new operating conditions and cash transaction limits for crypto ATM providers to curb scams and enhance anti-money laundering compliance. In a June 3 press release, the Australian Transaction Reports and Analysis Centre (AUSTRAC) stated that crypto ATM operators must now implement a cash deposit and withdrawal cap of 5,000 Australian dollars (approximately … Read more

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