Bank of Israel published a set of AML regulations for crypto deposits
The regulatory authorities around the world are tightening regulations and requirements to combat money laundering using cryptocurrencies
11.03.2022 - 16:30
539
1 min
0
What’s new? Israel’s Central Bank has published a draft corresponding to the anti-money laundering (AML) regulations. According to the draft, banking corporations will be required to conduct risk assessments of money transfer procedures that are made in cryptocurrencies or intended for them.
Information on the website of the Bank of Israel
What will change in the way banks operate? The operations of licensed crypto firms will be examined separately. Banks will also have to clarify the source of the money used to purchase cryptocurrency and track the path of movement of its purchase until its conversion to fiat currency.
What preceded it? In November 2021, anti-money laundering regulations came into force in Israel. At the same time, the Bank of Israel decided to accelerate the development of its own central bank digital currency (CBDC).
Useful material?
Market
Earlier, Trump promised to include the first cryptocurrency in the country’s reserves if re-elected as president
Nov 7, 2024
Incidents
According to the publication, the platform’s activities fall under the definition of gambling
Nov 7, 2024
Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024