The FCA has officially taken over as the ALM/CTF supervisor for the U.K., but what ramifications will this have on the wider crypto industry?
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FCA’s New AML Regime – UK’s Crypto Market Will Have to Adapt in 2020
Category: AML
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New EU AML Compliance Laws Could Disrupt the Crypto Industry
Anonymity in crypto faces extinction after new EU law: “Only true privacy coins like Monero might stand the test of time and resist de-anonymization”
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Research: Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019
Chainalysis: Binance and Huobi together received over 52% of total $2.8 billion worth of Bitcoin sent from criminal sources in 2019
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US Congress Looks at Role of Crypto and Internet in Funding Hate Crimes
U.S. Congress should not discount the future role of cryptocurrencies in funding acts of domestic extremism, the House Financial Services Committee warns
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With New Regulations, Europe’s Crypto Companies May Be Running Out of Options
European crypto companies are finding themselves in a changing regulatory environment. The new realities they have to deal with stem from the fifth edition of the European Union’s anti-money laundering directive. AMLD5 introduces stricter customer due diligence requirements and some in the industry have realized their business models, based on key principles of the crypto […]
The post With New Regulations, Europe’s Crypto Companies May Be Running Out of Options appeared first on Bitcoin News.
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China Saw $11.4 Billion in Crypto-Based Capital Flight Last Year
On January 8, China-based blockchain security firm Peckshield published its “2019 Global Digital Asset AML Research Report” noting a variety of crypto trends throughout the year. According to the study, cryptocurrency-based capital flight stemming from China was around $11.4 billion in 2019. Peckshield’s research recorded a number of illegal or otherwise unregulated transactions over the […]
The post China Saw $11.4 Billion in Crypto-Based Capital Flight Last Year appeared first on Bitcoin News.
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EU Countries Commence Crypto Regulations as Mandated by New Directive
The European Union’s 5th Anti-Money Laundering Directive mandates that member states start regulating crypto assets by Jan. 10. Crypto exchanges and custodial wallet providers are now covered by the same regulatory requirements as banks and other financial institutions. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws EU’s Regulatory Deadline: Jan. […]
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What The 5th Anti-Money Laundering Directive Means For Crypto Businesses
As 5AMLD comes into effect, cryptocurrency service providers are on the hook for new regulations
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UK Financial Watchdog FCA Now Supervises AML/CTF Compliance of Crypto Businesses
FCA is now responsible for the monitoring AML and CTF compliance of crypto-related companies
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Kraken Reveals 49% Increase in Law Enforcement Investigations
The publication of crypto exchange Kraken’s 2019 Transparency Report has provoked discussion about the scale of government surveillance. According to the report, Kraken received 710 requests last year (or two per day), impacting approximately 1,222 accounts. The report provides further evidence that exchanges are coming under intense scrutiny as global governments get tough on crypto. […]
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