AML

The U.S. Treasury Department on Wednesday proposed new anti-money-laundering and sanctions-compliance rules for permitted payment stablecoin issuers, marking a major step in implementing the 2025 GENIUS Act and expanding federal oversight of the sector.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday proposed a broad rewrite of anti-money-laundering and counterterrorism-financing rules that would shift the focus of compliance from technical box-checking to whether a financial institution’s controls are actually effective. 

Jeffrey Epstein received $25 million in late 2015 for consulting work tied to a U.S. Justice Department tax-evasion settlement with Swiss private bank Edmond de Rothschild Group.

UBS Group AG failed to convince a U.S. judge to clarify a 1999 settlement over Holocaust-era claims against Swiss banks, a setback for the lender as it seeks to head off potential new financial claims tied to Nazi victims’ assets.

Britain’s new Fair Work Agency will target abuse of labor market rules in construction and social care, two sectors heavily dependent on migrant workers, as the government expands enforcement powers to pursue fraud and workplace exploitation.

Trump’s crackdown on “debanking” is colliding with a core compliance problem for U.S. banks: the very policies his administration wants to curb have long given lenders a way to cut off customers they suspect of wrongdoing without violating federal secrecy rules.

A Russian cryptocurrency payments network founded by sanctioned actors is expanding into Africa as Moscow seeks new channels to move money around western restrictions imposed after the invasion of Ukraine.

Several senior Binance compliance officials overseeing sanctions, investigations, and financial-crime monitoring have left the company in recent months as the crypto exchange faces renewed scrutiny over alleged sanctions evasion and illicit-finance risks.

A politically connected blockchain project that partnered with the Trump family’s crypto firm promoted a proposed resort in Timor-Leste involving three people later sanctioned by the United States for ties to the Prince Group, an alleged Southeast Asian scam syndicate.

The Commodity Futures Trading Commission sued Arizona, Illinois, and Connecticut on Thursday, escalating the Trump administration’s defense of prediction markets and arguing that the federal agency has exclusive authority over contracts offered by platforms such as Kalshi.