CTF – DIGIT INFO

US regulator to seek feedback on DeFi’s impact on financial crime

DIGIT — Thu, 08 Dec 2022 06:30:00 +0000

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 KYC could solve the privacy vs compliance conundrum: VC partner

DIGIT — Tue, 11 Oct 2022 05:38:24 +0000

Zero-knowledge Know Your Customer (KYC) would allow businesses to adhere to strict AML/CTF rules while ensuring customer privacy.

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Hong Kong to Introduce Licensing for Crypto Platforms Through AML Law

DIGIT — Sun, 10 Jul 2022 21:00:53 +0000

New legislation tailored to regulate the crypto space in Hong Kong aims to implement a licensing regime for crypto service providers. The respective changes to the region’s anti-money laundering (AML) rules have been submitted to its legislature while a recently published report examines relevant threats. Hong Kong Lawmakers to Review Bill Aligning Crypto Sector With […]

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Israel Begins Seizure of Bitcoin Donations Collected by Hamas

DIGIT — Sat, 10 Jul 2021 08:00:37 +0000

Israel’s Defense Minister Benny Gantz has ordered the seizure of cryptocurrency funds raised by the Palestinian Islamist movement Hamas. His department has reportedly started taking control over digital wallets used by the terrorist group to collect crypto donations from abroad. Defense Ministry of Israel Targets Crypto Addresses Used by Hamas Minister Gantz approved the seizure […]

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Canada’s New AML Rules Have Room for Improvement but a Good Start, Eh?

DIGIT — Sun, 29 Mar 2020 18:45:48 +0000

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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European AML Directive Pushes Crypto Startup Bottle Pay Out of Business

DIGIT — Sun, 15 Dec 2019 03:50:11 +0000

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 […]

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EU Members Adopt Tougher Crypto Rules Than AML Directive Requires

DIGIT — Tue, 13 Aug 2019 19:25:26 +0000

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) […]

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Money Laundering Fines Worth Billions Help Bankers Avoid Prosecution and Unpleasant Labels

DIGIT — Thu, 18 Jul 2019 12:55:51 +0000

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 […]

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EU Adopts Rules to Reduce Anonymity for Crypto Users

DIGIT — Wed, 16 May 2018 03:18:53 +0000

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 […]

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