A “close look” is being taken at money laundering and terror financing laws by FinCEN as it asked banking sector players for feedback on DeFi’s crime risks.
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A “close look” is being taken at money laundering and terror financing laws by FinCEN as it asked banking sector players for feedback on DeFi’s crime risks.
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Zero-knowledge Know Your Customer (KYC) would allow businesses to adhere to strict AML/CTF rules while ensuring customer privacy.
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Canada’s financial regulators tighten the reins on the crypto industry. Will those changes benefit the local market in the long run?
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Bottle Pay, a cryptocurrency payments provider from the U.K., has announced its decision to cease operations by the end of the year. Despite attracting some serious funding and expanding its user base significantly in the past few months, the company has found it unacceptable to continue to work under the upcoming EU regulations. AMLD5, the […]
The post European AML Directive Pushes Crypto Startup Bottle Pay Out of Business appeared first on Bitcoin News.
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Europe is gradually tightening the rules for the crypto space. A wave of new regulations are introducing stricter requirements for companies operating in the industry and cryptocurrency users are going to feel the difference in the coming months. The measures stem from the obligation of member states to transpose EU’s Fifth Anti-Money Laundering Directive (AMLD5) […]
The post EU Members Adopt Tougher Crypto Rules Than AML Directive Requires appeared first on Bitcoin News.
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The recent seizure of a cargo ship owned by JP Morgan, a vessel loaded with 20 tons of cocaine according to latest accounts, highlighted the risks of banks’ involvement in illicit activities, inadvertent or otherwise. And although U.S. authorities released the MSC Gayane after the owner, JP Morgan’s asset management arm, and the operator, Mediterranean […]
The post Money Laundering Fines Worth Billions Help Bankers Avoid Prosecution and Unpleasant Labels appeared first on Bitcoin News.
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A directive affecting the crypto sector in Europe has been adopted by the EU Council. The document updates the anti-money laundering legislation of the European Union to address, among other issues, “the risks linked to virtual currencies.” The new rules aim to reduce anonymity for both users and transactions with requirements for know-your-customer procedures that […]
The post EU Adopts Rules to Reduce Anonymity for Crypto Users appeared first on Bitcoin News.
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