EU Members Adopt Tougher Crypto Rules Than AML Directive Requires

EU Members Adopt Tougher Crypto Rules Than AML Directive RequiresEurope is gradually tightening the rules for the crypto space. A wave of new regulations are introducing stricter requirements for companies operating in the industry and cryptocurrency users are going to feel the difference in the coming months. The measures stem from the obligation of member states to transpose EU’s Fifth Anti-Money Laundering Directive (AMLD5) […]

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Crypto Exchanges, Payment and Wallet Firms Join EU Police to Fight Privacy

Crypto Exchanges, Payment and Wallet Firms Join EU Police to Fight PrivacyAbout sixteen major cryptocurrency exchanges, payment processors and digital wallet providers have joined the EU’s law enforcement agency for an event about preventing money laundering. The three-day conference on digital currencies and cyber crime began on Tuesday in the Hague. Also Read: The Daily: Akon Launches Akoin, ICO Mogul Buys $19M Land with Bitcoin “Tracing and […]

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Research: Majority of EU, US Exchanges and Wallets Fail to KYC Users

Research: Majority of EU, US Exchanges and Wallets Fail to KYC UsersMore than two thirds of the leading cryptocurrency exchanges and wallet providers on both sides of the Atlantic fail to conduct proper identity verification checks. According to new research into their onboarding practices, most of the studied platforms do not meet the requirements of the upcoming regulations under the updated EU anti-money laundering directive. Also […]

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Indonesia to Regulate Cryptocurrencies as Commodities

Indonesia to Regulate Cryptocurrencies as CommoditiesCryptocurrencies in Indonesia will be regarded as commodities, according to a new decision by the country’s futures market regulator. It comes after a study concluding that digital coins deserve the commodity status. The government is expected to prepare a broader regulation covering other aspects of the crypto sector including trading and taxation. Also read: Crypto […]

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EU Adopts Rules to Reduce Anonymity for Crypto Users

EU Adopts Rules to Reduce Anonymity for Crypto UsersA directive affecting the crypto sector in Europe has been adopted by the EU Council. The document updates the anti-money laundering legislation of the European Union to address, among other issues, “the risks linked to virtual currencies.” The new rules aim to reduce anonymity for both users and transactions with requirements for know-your-customer procedures that […]

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Europe Introduces Customer Verification on Cryptocurrency Exchanges

Europe Introduces Customer Verification on Crypto ExchangesThe European Parliament has voted in favor of stricter regulations in the crypto sector. Crypto exchanges and wallet providers will be required to introduce customer due diligence procedures, including identity verification. The platforms will have to apply for registration in order to offer their services. The new measures come with the latest update of the […]

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