IBM Applies for Blockchain Patent to Ensure Transaction Compliance via Nodes Data
IBM acquires a blockchain patent to detect money laundering transactions and other violations based on nodes identifying data Go to Source Powered by WPeMatico
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Funds Frozen, Account Closed: UK Banks Target Cryptocurrency Owners
In a chilling but sadly all-too-familiar sequence of events, UK banks have been targeting cryptocurrency owners. Individuals who have cashed out large amounts of cryptocurrency – legitimately – have had their assets frozen and accounts locked without warning, fueled by fears of money laundering and a general distrust of bitcoin. One victim even claims to … Read more
FinCEN Director: Agency Receives 1,500 Suspicious Activity Reports on Crypto per Month
The director of the U.S. Financial Crimes Enforcement Network (FinCEN) says that the agency has seen a surge in filings of crypto-related Suspicious Activity Reports Go to Source Powered by WPeMatico
Japan’s Financial Watchdog Publishes Results of Its On-Site Crypto Exchange Inspections
Japan’s Financial Services Agency, has published the results of its on-site inspections of crypto exchanges, saying it plans to bolster regulatory oversight Go to Source Powered by WPeMatico
Thai Police Arrest Suspect in $24 Million Bitcoin Scam
A suspect in a $24 million Bitcoin scam has been arrested on charges of money laundering by Thai authorities Go to Source Powered by WPeMatico
Korean Crypto Exchange Bithumb Suspends Opening New Virtual Accounts
Bithumb has suspended issuing new virtual accounts to crypto traders starting on August 1 after failing to renew the contract with its bank. These accounts are part of the real-name system enforced by the Korean government earlier this year. Only three exchanges in the country are now reportedly able to open new virtual accounts for … Read more
US Treasury Dept. Fintech Innovation Report Touches on Crypto, Blockchain
A major new report from the U.S. Treasury Department has called for a more agile and conducive regulatory approach to innovations in the fintech sector Go to Source Powered by WPeMatico
Survey: Crypto Exchanges Want Regulation but See Strict Policies as a Threat
The majority of crypto exchanges want to see the industry regulated, although many consider excessive regulation to be the biggest threat, according to a new study. A third of the platforms in the poll also fear a market crash that could suddenly devalue digital assets. A fifth of the exchanges dislike anonymity. Also read: Huobi … Read more
Former Pershing Exec Jeff Horowitz Joins Coinbase as Chief Compliance Officer
Coinbase has hired Jeff Horowitz, formerly a managing director at Pershing LLC and a banking regulator with the FDIC, as its Chief Compliance Officer Go to Source Powered by WPeMatico
UK Remittance Service TransferGo Adds Crypto Trading in ‘World First’
TransferGo reportedly becomes “world’s first” fiat remittance service to offer crypto trading Go to Source Powered by WPeMatico