CertiK: AML rules are crypto's biggest regulatory risk

Global Web3 security firm CertiK said in a report that anti-money laundering (AML) regulations have emerged as the biggest regulatory risk for the cryptocurrency industry. According to Cointelegraph, the report highlighted that in the first half of last year, the U.S. Department of Justice and FinCEN levied over $1 billion in AML-related fines, while crypto-related penalties from the U.S. Securities and Exchange Commission (SEC) plummeted by 97% year-over-year during the same period. The report added that sanctions are increasingly targeting operational risks, such as unlicensed money transmission and failures in transaction monitoring.