compliance

According to an official report from Cointelegraph, the competition among cryptocurrency exchanges is undergoing transformation, with the industry's focus gradually shifting from trading data to users' broader daily financial needs. During TOKEN2049, Gate officially launched a one-stop financial service application, Gate Money, to lead this new competitive landscape.Dr. Han, the founder and CEO of Gate, pointed out that Gate Money aims to break down the barriers between traditional investments and daily consumption. It integrates users' named bank accounts, fiat currencies, cryptocurrency assets, and traditional financial holdings such as stocks and gold into the same account system, combined with the Gate Card that supports Apple Pay and Google Pay, as well as a Visa co-branded card, granting assets instant consumption capabilities. It also integrates various fiat currency deposits and withdrawals, on-chain transfers, instant exchanges, and up to 3.6% annualized wealth management, achieving a one-stop experience for asset management, appreciation, and payments.While expanding its business, Gate always places compliance and transparency at its core. Currently, the platform has obtained compliance qualifications in Malta, Dubai, Australia, and the United States; the platform's total reserves amount to $8.688 billion, with a comprehensive reserve ratio of 118.49%. The launch of Gate Money marks Gate's acceleration towards upgrading into a comprehensive financial ecosystem that encompasses daily payments and comprehensive asset management.

According to official news, the on-chain compliance platform Predicate announced the completion of an $8 million Series A financing round, led by Blockchain Capital, with participation from Paxos, 1kx, and Tribe Capital.Predicate primarily provides pre-trade compliance review and risk control for stablecoins, tokenized assets, and other on-chain financial products, supporting the restriction of high-risk addresses and sanctioned transactions.

According to The Defiant, cryptocurrency exchange Kraken has canceled the questionnaire requirement for Monero withdrawals, and XMR remains listed on the platform.Kraken co-CEO Arjun Sethi stated that asking customers how they will use the withdrawn tokens is unacceptable. The exchange will still retain the review of the source of funds.Previously, Kraken required some users withdrawing XMR to answer enhanced due diligence questions, including explaining the reason for the transaction and the expected use of XMR after withdrawal.

The GENIUS Act will take effect on July 18, 2025, with a general applicability date of 18 months after enactment or 120 days after the primary federal payment stablecoin regulatory agency issues final implementation rules, whichever comes first. The U.S. Department of the Treasury anticipates the general effective date to be January 18, 2027, with some issuance and sales restrictions taking effect on July 18, 2028.The Office of the Comptroller of the Currency (OCC) published its main implementation proposal in February 2026, and the Federal Reserve proposed rules on September 24, 2026, concerning regulated issuers, reserves, capital, risk management, custody, and application procedures. The interim final rule effective September 30, 2026, has established forms and procedures for state regulatory system certification.Stablecoin issuers must assess approval, prudent regulation, reserve, and redemption requirements; distributors and intermediaries must analyze exchange, transfer, custody, and related financial service obligations. Businesses holding stablecoins must also review redemption channels, reserve arrangements, custody, freezing, and counterparty risks, and accepting stablecoin payments must distinguish between receiving payments for their own goods or services and transferring funds on behalf of others. Proposed issuers may choose paths approved by custodial deposit institutions, federally qualified issuers, or state qualified issuers; state qualified issuers with eligible and outstanding issuance not exceeding $10 billion may opt for state regulation. Payment stablecoin reserves must be at least one-to-one backed by outstanding tokens, and businesses must clarify cash flow, customer rights, compliance responsibilities, and product yield arrangements; relevant issuers may not pay interest or yields solely for holding, using, or retaining payment stablecoins.

According to The Block, payment company Mastercard has launched the Stablecoin Security tool to screen for fraud and sanction risks in stablecoin payments.This tool is aimed at stablecoin payment scenarios, helping relevant institutions identify fraudulent activities and sanction compliance risks during transaction processing. Mastercard did not disclose more product parameters and launch scope in the summary of the report.

According to Bloomberg, Bank of America has been fined over $1.21 billion by U.S. regulators for anti-money laundering and sanctions compliance issues. Among them, the Office of the Comptroller of the Currency (OCC) issued a $750 million civil penalty, setting a record for fines related to this agency; the settlement measures from the Office of Foreign Assets Control (OFAC) involve 475 alleged violations of sanctions programs, with related countries including Russia and Iran.Regulators also issued a consent order against the bank.

According to CoinDesk, Russia's largest bank Sberbank has received approval from the Central Bank of Russia to conduct cryptocurrency trading. According to Interfax, the Central Bank of Russia has included Sberbank in the registry of cryptocurrency trading service providers. The bank has also entered the registry of digital asset custodians, qualifying it to record customers' cryptocurrency holdings.Sberbank plans to launch cryptocurrency trading services to users through its existing client portal starting December 1. It is currently testing trading functions for assets such as BTC, ETH, and USDT within the app, and the final list of tokens supported for trading will be determined by the Central Bank of Russia. This approval signifies a further shift towards compliance in the regulation of the Russian cryptocurrency market. In 2022, the Central Bank of Russia proposed a ban on domestic cryptocurrency trading platforms and financial institutions participating in cryptocurrency activities, but new regulations that took effect in September of this year began to establish a regulated market involving banks, brokers, trading platforms, and digital asset custodians.Currently, there are 9 institutions on the Central Bank of Russia's registry of cryptocurrency trading service providers, including VTB and T-Invest Lab. However, the use of cryptocurrencies for payments remains prohibited within Russia. The Central Bank of Russia stated that starting in July next year, cryptocurrency trading must be conducted through registered intermediaries, and peer-to-peer transactions conducted through bank accounts may be subject to restrictions.

On October 12, 2026, the financial technology company Yirendai released a statement through its public account, stating that it had noted the public security report released by "Ping An Beijing Chaoyang" on that day, and that the relevant situation should be based on the official announcement.Yirendai stated that the company operates independently as a publicly listed entity, focusing on financial technology and AI technology innovation. The company mentioned that no direct relationship with Yirendai's business has been found regarding the reasons involved in this incident, and that operations remain normal, with all business activities progressing in an orderly manner.The company also stated that it will strictly adhere to regulatory requirements, maintain compliant and stable operations, protect the legal rights and interests of partners and users, and express gratitude for the attention from all sectors.

Co-founder Edison released an update regarding the recent data breach incident involving encrypted cards. Edison stated that the compliance and operations team is contacting affected users, has reported to relevant agencies such as the Personal Data Protection Commission (PDPC), and has formally filed a police report. They are currently working closely with law enforcement, and the encrypted card business continues to operate normally.

According to Bloomberg, the U.S. Department of Justice is reviewing whether Binance Holdings Ltd. has violated the settlement agreement reached with the U.S. government in 2023, while also investigating whether activities on the platform may involve violations of Iran sanctions.Tysen Duva, head of the criminal division of the U.S. Department of Justice, stated in an interview this week that officials are reviewing Binance's compliance with the 2023 agreement. He declined to discuss details and did not indicate that Binance violated the settlement agreement. Under the agreement, Binance agreed to pay a $4.3 billion fine, acknowledged violations of banking-related rules, and accepted enhanced compliance controls.

On October 8, the XRP Ledger activated the PermissionDelegationV1_1 feature, allowing account owners to authorize other accounts to perform specific tasks without relinquishing control of the account's master key. According to the monitoring site XRPL Dashboard, such upgrades require over 80% support from trusted validators for two consecutive weeks; based on the current 35 validators, at least 29 must support it. The countdown for this feature was reset in September due to the support rate falling below the threshold.This feature allows enterprises to split permissions by function. Stablecoin issuers can authorize compliant accounts to approve new customers while keeping the master key offline. Authorized accounts use their own keys to sign and can only perform the granted operations; owners can change or revoke these permissions at any time. Each authorized account can receive up to 10 permissions, which limit the types of operations they can perform, rather than automatically setting spending limits. Banks have previously separated payment and compliance responsibilities at the employee level, and this upgrade enforces such division at the ledger level.According to a report shared by Evernorth, a subsidiary of XRP Treasury, the network held an average of $3.72 billion in tokenized assets and $539 million in Ripple's RLUSD stablecoin in the second quarter, totaling approximately $4.26 billion. Official guidance advises users not to delegate PaymentBurn permissions before separately fixing activation; this permission is intended for assistants to destroy tokens but, under certain conditions, also allows for the creation of new tokens. This warning pertains to tokens issued on the ledger rather than newly minted XRP.

At the TOKEN2049 event in Singapore, OKX founder and CEO Star stated that AI's impact on the financial industry is not only occurring at the user level but is also deeply penetrating backend operations such as compliance and risk control. OKX has utilized AI to assist in identifying risks, supporting investigations of suspicious transactions and behaviors, and providing recommendations to enhance processing efficiency and execution consistency. Currently, AI does not make compliance or risk management decisions directly; the final decisions are still made by humans.On-site, OKX board member and former Governor of New York Andrew Cuomo also added that clear regulatory rules are an important foundation for fintech companies to expand their services. To provide financial services to a broader user base, companies must comply with regulatory requirements and establish public trust through compliant operations.

The Cardano Foundation announced that the programmable token standard CIP-0113 has officially launched on the Cardano mainnet, allowing issuers of regulated assets such as stablecoins, tokenized funds, and bonds to directly embed compliance rules such as KYC, anti-money laundering, sanctions screening, asset freezing and confiscation, and transfer restrictions into the tokens, which will be executed by the Cardano ledger during each transfer, minting, and burning.This standard does not require a hard fork, and the tokens remain native assets of Cardano, with issuers able to update the rule modules according to regulatory changes.

According to U.Today, as the EU MiCA transition period ended on July 1, obtaining MiCA authorization has become an important foundation for cryptocurrency trading platforms to continue serving European users. Gate Europe obtained MiCA authorization before the end of the transition period and expanded related services through the European Economic Area passport mechanism. Gate data shows that from June 16 to September 22, the platform added at least 68 new spot trading pairs, currently covering about 190 assets and 382 trading pairs.The article cites data from CASP Tracker, indicating that as of September 28, 84 out of the world's largest 100 cryptocurrency trading platforms have not yet obtained MiCA authorization. Meanwhile, Gate Europe passed the PCI DSS v4.0.1 Level 1 compliance assessment on September 15, covering Gate Connect and Gate Card. Gate Europe CEO Dr. Giovanni Cunti stated that security and compliance are key to building trusted payment services in Europe, and obtaining PCI DSS certification is an important step in strengthening payment infrastructure.In terms of liquidity, Gate data shows that from September 14 to 27, the order book depth for BTC/USDC and ETH/USDC within 0.1% of the midpoint increased by approximately 14% and 12%, reaching $1.32 million and $555,000, respectively. Meanwhile, DefiLlama MiCA exchange data shows that the depth of Gate Europe's spot market within 2% of the midpoint reached $15.9 million, higher than other platforms during the same period. Relying on the compliant foundation built on the dual licenses of MiCA and Payment Institutions (PI), Gate Europe will continue to improve asset coverage and liquidity construction, providing European users with a richer selection of digital asset trading options and a better trading experience.