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Weekly Roundup: EU Unveils New AML Supervisor, Santander Joins Binance Blockade, and More

The EU's planned new Anti-Money Laundering Authority will have a staff of 250 and authority to penalize financial institutions up to 10 percent of their annual turnover, or €10 million, whichever is higher, according to leaked documents cited by the Financial Times and Reuters. More and More Officials plan to strip the Paris-based European Banking Authority of its entire AML remit and hand it to the new agency, which will begin directly supervising the EU's highest-risk financial institutions in 2026, Politico reported. More Santander U.K. has banned all payments to Binance after the Financial Conduct Authority prohibited the cryptocurrency exchange from operating in the country, the Block reported. More Binance chief...

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