DeFi lending platform Aave reveals ‘permissioned pool’ for institutions
Designed for institutional investors, the lending pool will feature KYC and AML restrictions. Go to Source Powered by WPeMatico
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Thailand’s New Cryptocurrency Regulation Requires Users to Be Physically Present to Open Accounts
The Thai government has reportedly imposed a new cryptocurrency requirement. Crypto exchanges will be required to verify users’ identities using a machine that requires the customers to be physically present. Thailand’s New Crypto Rules The Thai Anti-Money Laundering Office (Amlo) has announced that starting in July “local digital exchanges must verify their customers’ identities through … Read more
Crypto.com to use CipherTrace tool to comply with FATF’s travel rule
Crypto.com has chosen CipherTrace’s specialized compliance tool to help it fulfill the complex requirements of the FATF’s industry-shaping “travel rule.” Go to Source Powered by WPeMatico
Mergers and acquisitions are rising, leaving crypto assessments in question
Questions around cryptocurrency assessments gain momentum, which brings some nuanced challenges in assessing crypto’s place in M&A. Go to Source Powered by WPeMatico
How banks can identify money laundering involving crypto, explained
What are the tools that banks and financial institutions need to identify money laundering involving crypto? This explained guide reveals all. Go to Source Powered by WPeMatico
Japan’s FSA asks cryptocurrency industry group to introduce FATF travel rule
Japan has been a member of the FATF since 1990. Go to Source Powered by WPeMatico
Bank of International Settlements Chief Says Cryptocurrencies Being Used to Evade Laws- Advocates for More Regulation
Agustin Carstens, the general manager at the Bank of International Settlements (BIS), has claimed that cryptocurrencies are “used to evade laws and should therefore face more regulation.” Carstens, who has attacked bitcoin in the past, suggests that many crypto assets are “used to do some arbitrage, or to circumvent some regulations.” Carstens Repeats the Same … Read more
New FATF Guidance Applies Regulatory Standards to Decentralized Exchanges, Defi and NFTs
On March 19, the Financial Action Task Force (FATF) published draft guidance on the risk-based approach to virtual assets. The newly updated guidance now applies anti-money laundering and know-your-customer rules to stablecoins, decentralized finance (defi), and non-fungible token (NFT) assets. FATF Defines Decentralized Exchanges and Defi as a Virtual Asset Service Providers For a while … Read more
South Korea faces strict crypto regulation and fears of centralization
The growing cost of compliance in South Korea could push smaller crypto businesses out of the country. Go to Source Powered by WPeMatico
Experts say new South Korean crypto rules will create a monopolized market
Blockchain industry members claim that smaller-scale startups have struggled to forge partnerships with local banks in South Korea and are therefore unable to register under regulators’ new requirements. Go to Source Powered by WPeMatico