For business
KYT office
Compliance solution to monitor risks, detect sanctions and ensure AML rules.
KYT office
Compliance solution to monitor risks, detect sanctions and ensure AML rules.
AML certification
How industry players can get up-to-date knowledge and professional certification.
AML certification
How industry players can get up-to-date knowledge and professional certification.
Comprehensive transaction analytics that helps to build graphs and trace funds.
Graph
Travel rule
(soon)
For personal use
Telegram bot
Bot for checking crypto for risks, providing AML reports.
Telegram bot
Bot for checking crypto for risks, providing AML reports.
Getting money back
Services are focused on tracking
and recovering crypto assets.
and recovering crypto assets.
Getting money back
Services are focused on tracking
and recovering crypto assets.
and recovering crypto assets.
Docs and reports
All types of documents related
to cryptocurrency.
to cryptocurrency.
Docs and reports
All types of documents related
to cryptocurrency.
to cryptocurrency.
Portfolio tracker
Information about all assets and risk assessment in one place.
Portfolio tracker
Information about all assets and risk assessment in one place.
AML checks
Сhecking wallets and transactions
for illicit funds.
for illicit funds.
AML checks
Сhecking wallets and transactions
for illicit funds.
for illicit funds.
AML-сертификация
Актуальные знания в области AML/KYT от ведущих экспертов отрасли.
AML-сертификация
Актуальные знания в области AML/KYT от ведущих экспертов отрасли.
Graph
Визуализация перемещения активов
и связей между кошельками.
и связей между кошельками.
Graph
Визуализация перемещения активов
и связей между кошельками.
и связей между кошельками.
KYT Office
Мониторинг транзакций и кошельков для вашего отдела комплаенса.
KYT Office
Мониторинг транзакций и кошельков для вашего отдела комплаенса.
Для себя
Для Бизнеса
Travel rule
(Cкоро)
Телеграм-бот
Бот для проверки кошельков и транзакций с выдачей отчётов.
Телеграм-бот
Бот для проверки кошельков и транзакций с выдачей отчётов.
Возврат средств
Услуги по отслеживанию и возврату украденных криптоактивов.
Возврат средств
Услуги по отслеживанию и возврату украденных криптоактивов.
AML-проверки
Проверка кошельков и транзакций на наличие "грязной" криптовалюты.
AML-проверки
Проверка кошельков и транзакций на наличие "грязной" криптовалюты.
Портфолио трекер
Информация о всех активах и оценка рисков в одном месте.
Портфолио трекер
Информация о всех активах и оценка рисков в одном месте.
Отчёты
Все типы документов связанные
с криптовалютой.
с криптовалютой.
Отчёты
Все типы документов связанные
с криптовалютой.
с криптовалютой.
US Stock Regulator Boosts Cryptocurrency Oversight in 2024: Impact on Crypto Businesses
The US Securities and Exchange Commission (SEC) is set to bolster oversight of cryptocurrency businesses in 2024, according to its upcoming yearly plan report. While the SEC has been issuing reports for the past decade to caution investors about various financial market risks, this time, it is specifically highlighting the cryptocurrency market.
The 2024 priorities encompass three key risk areas:
The 2024 priorities encompass three key risk areas:
• Information security and operational resilience.
• Cryptocurrencies and emerging financial technologies.
• Combating money laundering (AML) compliance.
• Cryptocurrencies and emerging financial technologies.
• Combating money laundering (AML) compliance.
Historically, the SEC has primarily dealt with one major AML compliance case in the cryptocurrency market. In October 2022, the cryptocurrency exchange Bittrex faced a $ 29 million fine for AML and sanctions violations. It appears that the US regulatory body is now aiming to heighten supervision in this realm.
What to expect for the crypto business?
A significant concern in the cryptocurrency industry revolves around defining the legal status of cryptocurrencies. Clarity on this matter is unlikely under Gary Gensler’s leadership at the SEC. Gensler has consistently indicated that, according to securities laws, almost all cryptocurrencies, excluding Bitcoin, fall within the SEC’s purview.
According to the SEC, this implies that cryptocurrency businesses should register their services with the commission. However, industry representatives disagree and have openly ridiculed the regulator’s requirements.
Anticipate heightened scrutiny on cybersecurity. The regulator is likely to focus on the use of third-party providers, with AML providers potentially coming under particular scrutiny.
Selecting the right partner is crucial for businesses. Merely having an AML intermediary may not be enough. It’s essential to thoroughly assess a company’s experience, portfolio, notable cases, and media coverage. Understanding that regulatory bodies will diligently try to identify weaknesses in a business’s infrastructure is crucial. If a data provider or AML partner has a tarnished reputation or has provided inaccurate data in the past, there is a significant risk of facing scrutiny and potential claims from the SEC.
According to the SEC, this implies that cryptocurrency businesses should register their services with the commission. However, industry representatives disagree and have openly ridiculed the regulator’s requirements.
Anticipate heightened scrutiny on cybersecurity. The regulator is likely to focus on the use of third-party providers, with AML providers potentially coming under particular scrutiny.
Selecting the right partner is crucial for businesses. Merely having an AML intermediary may not be enough. It’s essential to thoroughly assess a company’s experience, portfolio, notable cases, and media coverage. Understanding that regulatory bodies will diligently try to identify weaknesses in a business’s infrastructure is crucial. If a data provider or AML partner has a tarnished reputation or has provided inaccurate data in the past, there is a significant risk of facing scrutiny and potential claims from the SEC.
