FinCEN lists cryptocurrencies as top AML and CFT priorities
FinCEN will soon issue regulations on how financial institutions should incorporate its priorities on crypto considerations into their AML programs. Go to Source Powered by WPeMatico
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Binance tackles Travel Rule compliance after multiple bans
Following bans in Japan, the U.K. and Ontario, Binance is ramping up its compliance efforts with a specialized tool developed by crypto intelligence firm CipherTrace. Go to Source Powered by WPeMatico
Crypto exchanges could sue Korean gov’t for ‘passing the buck‘ to banks
With many crypto exchanges in South Korea now on a precipice as a new regulatory framework kicks in, some are threatening to sue the government over its alleged shirking of key responsibilities. Go to Source Powered by WPeMatico
Echoing Cuban, Novogratz says DeFi should ‘play by the rules’, or ‘pay the piper’ later
Mike Novogratz suggests DeFi projects add KYC and AML features now instead of waiting on regulators to crack down on the entire sector. Go to Source Powered by WPeMatico
London Stock Exchange-listed firm inks FCA’s approval for crypto services
Mode’s crypto arm Fibermode is now an official crypto asset firm in the United Kingdom, pursuant to FCA’s amended AML regulations. Go to Source Powered by WPeMatico
South Africa Working Group Releases New Position Paper Calling for Regulation of Crypto Asset Providers
South Africa’s Intergovernmental Fintech Working Group (IFWG) has a released new position paper that calls for the regulation of the country’s cryptocurrency ecosystem. In the document, the IFWG, which is a creation of the South Africa Reserve Bank (SARB), recommends “a staged approach to bring crypto-assets within the regulatory remit through the regulation of crypto … Read more
Is there a right way to regulate crypto? Yes, and this is how
Cryptocurrency is a promising asset class for people and investors, but the lack of proper regulation slows down its innovation. Go to Source Powered by WPeMatico
Binance-owned Indian exchange WazirX investigated for alleged AML failings
India’s Enforcement Directorate will probe crypto exchange WazirX for alleged violations of AML laws and FEMA, in connection with crypto transactions worth $389 million. Go to Source Powered by WPeMatico
51 crypto firms withdraw licensing applications in the UK
The inability to satisfy Anti-Money Laundering standards set by regulators in the United Kingdom is reportedly forcing many crypto companies out of business. Go to Source Powered by WPeMatico
UK Regulator Extends Temporary Registrations Regime as Crypto Firms Fail to Meet AML Rules
Many companies operating with cryptocurrencies are not meeting anti-money laundering regulations, the U.K.’s Financial Conduct Authority revealed. The government agency has extended its temporary registration scheme after facing a growing number of crypto firms that are withdrawing their applications. FCA Extends Temporary Registrations Regime Till End of March 2022 The Financial Conduct Authority (FCA) announced … Read more
