Bank of America backed crypto AML rules but reported over $5 billion in suspicious activity late
In December 2023, Senator Elizabeth Warren asked Bank of America CEO Brian Moynihan whether crypto companies handling financial transactions should follow the same anti-money-laundering rules as banks. “Absolutely,” he said. On Oct. 13, Treasury announced more than $1.2 billion in penalties against his bank. FinCEN found that Bank of America admitted to willfully violating the… Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
Key Takeaways
- In December 2023, Senator Elizabeth Warren asked Bank of America CEO Brian Moynihan whether crypto companies handling financial transactions should follow the same anti-money-laundering rules as banks.
- “Absolutely,” he said.
- 13, Treasury announced more than $1.2 billion in penalties against his bank.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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