Russia’s FATF Rating Downgraded Over Crypto Regulation Shortfalls

Russia's FATF Rating Downgraded Over Crypto Regulation ShortfallsThe Financial Action Task Force (FATF) has lowered Russia’s rating owing to insufficient oversight of cryptocurrencies, as indicated by regional coverage. According to RBC, this downgrade highlights escalating worries about the country’s capacity to oversee and mitigate dubious transactions within the rapidly expanding realm of digital finance. Russia’s Financial Strategy Challenged by FATF Downgrade The […]

Go to Source

Gemini’s Travel Rule measures reflect ‘worrying creep’ of overregulation

Gemini will be restricting its UK users to sending only to 58 virtual asset service providers that are registered under the Travel Rule starting Nov. 17. A Trezor analyst argues the measures will go against the principles of Bitcoin and financial freedom.

Go to Source

Over 200 Jurisdictions Agree on Timely Implementation of FATF Crypto Standards

Over 200 Jurisdictions Agree to Implement FATF Standards on Crypto AssetsThe Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries have failed to implement its previous requirements on crypto, including the “travel rule.” Countries Agree to Implement FATF Crypto Standards […]

Go to Source

Powered by WPeMatico

After Years of Uncertainty, Cryptocurrency Exchanges Can Open Bank Accounts in Chile

chileAfter years of court battles in Chile, a cryptocurrency exchange has managed to open a bank account in Bci, a financial institution that established a protocol to serve these businesses. The first exchange that opened a bank account with the institution was Buda, a local exchange, which satisfied the requirements of the bank in the […]

Go to Source

Powered by WPeMatico

India’s Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risks to Consumer Protection

India's Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risk to Consumer ProtectionIndia’s central bank, the Reserve Bank of India (RBI), has warned about multiple risks cryptocurrency poses to the country’s financial stability. “They are also prone to frauds and to extreme price volatility,” the apex bank claims, stressing that “cryptocurrencies pose immediate risks to customer protection and anti-money laundering (AML) / combating the financing of terrorism […]

Go to Source

Powered by WPeMatico