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Young and small cryptocurrency businesses will pay lower registration fees than big companies, the United Kingdom’s financial watchdog has decided after consultations with members of the industry. The revised fee scheme takes into account the firms’ income to determine the amount they’ll be charged to cover supervision costs. Also read: Singapore Introduces Licensing for Crypto … Read more
Finnish LocalBitcoins silently suspends user accounts in multiple countries, reportedly citing an “enhanced due diligence process” initiated by the EU’s 5AMLD Go to Source Powered by WPeMatico
If you’ve ever had a sudden need for fiat while all in crypto, you’ll understand the difficulty of cashing out without KYC-ing away your identity and that of your unborn children. Localbitcoins is now an AML hellhole, Bisq is great if you’re happy to wait two days for a trade, which leaves what exactly? Localcryptos.com. … Read more
Ukrainian authorities will be able to “block crypto wallets” in order to seize illegally obtained assets, a notice from the country’s Ministry of Finance says Go to Source Powered by WPeMatico
Deribit clarifies new requirements for customer information to take effect following move to Panama, itself an effort to avoid new E.U. AML regulation Go to Source Powered by WPeMatico
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? Go to Source Powered by WPeMatico
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” Go to Source Powered by WPeMatico
Chainalysis: Binance and Huobi together received over 52% of total $2.8 billion worth of Bitcoin sent from criminal sources in 2019 Go to Source Powered by WPeMatico
U.S. Congress should not discount the future role of cryptocurrencies in funding acts of domestic extremism, the House Financial Services Committee warns Go to Source Powered by WPeMatico
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 … Read more