How should DeFi be regulated? A European approach to decentralization
The question for DeFi regulation: Is there an “owner” of the platform who can be held accountable for complying with the regulations? Go to Source Powered by WPeMatico
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NFTs and compliance: Why we need to be having this conversation
With the huge growth in the NFT industry, the time is right to take a look at NFTs from a compliance and regulatory perspective. 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, 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 … Read more
South Korean crypto exchanges to follow Coinone in verifying private wallets
South Korean exchanges will require users to verify their third-party wallet addresses to help the country comply with FATF travel rule guidelines. Go to Source Powered by WPeMatico
Coinone will stop withdrawals to unverified external wallets
The exchange plans to verify users’ names and resident registration details to ensure crypto transactions were “not used for illegal activities such as money laundering.” Go to Source Powered by WPeMatico
Binance Turkey fined 8M lira for non-compliance against money laundering
MASAK found Binance Turkey guilty of violating the Law on Prevention of Laundering Proceeds of Crime, also known as the AML Law. Go to Source Powered by WPeMatico
Cyprus’ finance ministry recommends ‘capacity building’ for crypto
Cyprus’s finance ministry stressed the need to accelerate its capacity building for the crypto industry. Go to Source Powered by WPeMatico
FATF guidance on virtual assets: NFTs win, DeFi loses, rest remains unchanged
The Financial Action Task Force has laid out its perspective on crypto, including its views of nonfungible tokens and decentralized finance. Go to Source Powered by WPeMatico
China’s central bank proposes to monitor metaverse and NFTs
The metaverse and NFTs are in the crosshairs of the People’s Bank of China, which wants to track the with Anti-Money Laundering tools. Go to Source Powered by WPeMatico
Israel reportedly adopts new AML rules for crypto
The Israeli government is now reportedly in the process of reviewing several crypto firms to issue operating licenses. Go to Source Powered by WPeMatico