🚀 Abu Dhabi Regulator Imposes $12.45 Million Fine on Hayvn Group for AML Failures
#AbuDhabi #HayvnGroup #AML #FinancialRegulation #Cryptocurrency #Fines #AntiMoneyLaundering #FSRA
According to BlockBeats, Abu Dhabi's regulatory authorities have fined cryptocurrency trading company Hayvn Group $12.45 million for failing to establish effective anti-money laundering (AML) controls. Since October 2018, the company and its former CEO, Christopher Flinos, have been conducting client transactions through AC Holding, an unlicensed special purpose entity, with minimal AML measures in place.
Emmanuel Givanakis, CEO of the Abu Dhabi Financial Services Regulatory Authority (FSRA), described these actions as "particularly serious" following the conclusion of the investigation by his team. Investigators discovered that AC Holding provided over 200 forged documents to banking partners, and Flinos repeatedly supplied false information during inquiries by the regulatory body.
The regulatory authority has imposed fines totaling $8.85 million on several related entities, while the Registration Authority has levied an additional $3.61 million fine on Flinos.#AbuDhabi #HayvnGroup #AML #FinancialRegulation #Cryptocurrency #Fines #AntiMoneyLaundering #FSRA
🚀 Bitcoin Suisse Secures Approval for Middle East Expansion
#BitcoinSuisse #MiddleEastExpansion #Crypto #FinancialServices #AbuDhabi #FSRA #ADGM #BTC
According to Foresight News, Swiss crypto financial services provider Bitcoin Suisse has announced that its subsidiary has received in-principle approval from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This approval marks a significant step for Bitcoin Suisse as it plans to expand its operations into the Middle East market.#BitcoinSuisse #MiddleEastExpansion #Crypto #FinancialServices #AbuDhabi #FSRA #ADGM #BTC
🚀 Animoca Brands Secures Preliminary Approval for Fund Management in Abu Dhabi
#AnimocaBrands #AbuDhabi #FSRA #ADGM #FundManagement #UAE #Regulated #FinancialServices #Investment
According to ChainCatcher, Animoca Brands has received in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), the international financial center of the UAE capital. This approval allows Animoca Brands to operate as a regulated fund management company. Upon meeting the necessary conditions and obtaining final regulatory approval, the company will be authorized to conduct collective investment fund management activities within or from ADGM.#AnimocaBrands #AbuDhabi #FSRA #ADGM #FundManagement #UAE #Regulated #FinancialServices #Investment
🚀 Ripple USD Recognized as Fiat-Anchored Token in Abu Dhabi
#Ripple #USD #Stablecoin #AbuDhabi #FSRA #ADGM #UAE #FiatAnchoredToken #Cryptocurrency #XRP
According to PANews, Ripple has announced that its USD-backed stablecoin, Ripple USD (RLUSD), has been recognized by the Abu Dhabi Financial Services Regulatory Authority (FSRA) as a 'recognized fiat-anchored token.' This designation allows RLUSD to be used within the Abu Dhabi Global Market (ADGM), the international financial center in the capital of the United Arab Emirates (UAE).#Ripple #USD #Stablecoin #AbuDhabi #FSRA #ADGM #UAE #FiatAnchoredToken #Cryptocurrency #XRP
🚀 Tether's USDT Gains Recognition Across Major Blockchains in Abu Dhabi
#Tether #USDT #AbuDhabi #blockchain #AFRT #ADGM #FSRA #digitalassets #financialinclusion #globalfinance #APT #DOT
According to Odaily, Tether has announced that its USDT token has been recognized as an accepted fiat reference token (AFRT) by the Abu Dhabi Global Market (ADGM). This recognition allows authorized entities licensed by the ADGM Financial Services Regulatory Authority (FSRA) to offer regulated activities involving USDT on various blockchains, including Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON.
This development builds on ADGM's previous recognition of USDT on Ethereum, Solana, and Avalanche, further expanding the application scope and network coverage of USDT within ADGM's regulated digital asset framework. Tether CEO Paolo Ardoino emphasized that this move highlights Tether's commitment to advancing global financial inclusion and innovation, while reinforcing Abu Dhabi's position as a global hub for compliant digital finance.#Tether #USDT #AbuDhabi #blockchain #AFRT #ADGM #FSRA #digitalassets #financialinclusion #globalfinance #APT #DOT