Capital One shut Donald Trump's accounts in 2021 after flagging suspicious activity; Trump claims political motive, bank denies. JPMorgan Chase also denies political de-banking.
Capital One Financial has formally stated in a court filing that it closed over 300 Trump Organization bank accounts due to anti-money laundering (AML) concerns, marking the first time a bank has publicly linked such issues to Donald Trump's business. This disclosure came as Capital One sought to dismiss a lawsuit by the Trump Organization alleging illegal "debanking" on political grounds.
Capital One Financial has defended its 2021 closure of over 300 Trump Organization bank accounts in a US federal lawsuit, stating the decision was made after an anti-money laundering review. This marks the first time a bank has formally tied AML concerns to the Trump family business.
Capital One defended its 2021 closure of Trump Organization accounts, citing anti-money laundering (AML) concerns in a Florida federal court filing. This marks the first time a bank formally linked AML issues to Trump's business, refuting claims of politically motivated debanking.
Russia has sanctioned 17-year-old British student Alexander Browder for his report on alleged money laundering via cryptocurrency 'A7A5' to fund the Ukraine war. Browder, son of activist Bill Browder, sees the sanction as proof of his work's effectiveness.
South Korea's National Police Agency has partnered with the country's five largest virtual asset exchanges to combat money laundering from phishing crimes. The collaboration aims to block the use of cryptocurrencies to launder illicit funds by establishing a real-time data sharing system.
Crypto executives, policy researchers, and national security experts testified before a House subcommittee on modernizing anti-money laundering laws for AI and digital assets. Witnesses discussed the Bank Secrecy Act's limitations and proposed reforms.
The CLARITY Act is heading back to the Senate Banking Committee on May 14 after months of stalled negotiations, putting a small group of Democrats at the center of the crypto industry’s push for a federal market-structure law. The markup comes after the bill was slowed by disputes over stablecoin rewards, anti-money laundering safeguards and […] The post CLARITY Act’s markup progress now hinges on these Democrat lawmakers appeared first on CryptoSlate.
AML enforcement has overtaken securities violations as the leading regulatory threat for crypto companies, with DOJ and FinCEN imposing over $1 billion in AML-related fines during H1 2025. SEC crypto-specific penalties collapsed 97% year-over-year, dropping from $4.9 billion in 2024 to $142 million in 2025. Major settlements include OKX ($504M) and KuCoin ($297M) for BSA violations. The shift reflects US administration policy changes and broader global regulatory trends, including 767% surge in European AML fines and 400% growth in sanctions-related crypto volume.
South Korea and the United States have agreed to enhance cooperation to fight money laundering in the Asia-Pacific region. KoFIU Commissioner Lee Hyung-ju met with FinCEN Director Andrea Gacki in Washington this week, discussing online scams in Southeast Asian countries involving Korean nationals and the need for stronger transnational cooperation with the private sector for early detection.
A letter from US Senator Richard Blumenthal said he was concerned about “mounting allegations of dangerously lax anti-money laundering prevention by Binance.”
