The organization reported that only 9% of countries were “substantially effective” in areas including having banks and VASPs verify users’ information.
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Brazilian Congress Aims to Pass Unified Crypto Framework in Coming Months
The Brazilian Congress is trying to approve a cryptocurrency legal framework before the end of Q2. According to reports from local media, The proponents of the different law projects presented in the Senate and the Congress have stated they will seek the unification of the projects due to their similarity. This new unified project presents […]Powered by WPeMatico
Korean crypto exchanges are now in compliance with the Travel Rule
Complying with the rules puts South Korea ahead of the curve for regulating virtual assets, but may be harming the domestic industry with overbearing transfer restrictions between exchanges.
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Blockchain forensics is the trusted informant in crypto crime scene investigation
As mainstream adoption of crypto increases, blockchain forensics is enabling law enforcement to recover stolen crypto, making the space more secure.
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South African Treasury on Crypto Regulations: Amendments to Relevant Laws to Be Finalized in 2022
The South African Treasury says it expects the amendments to the country’s financial laws — that will see crypto asset service providers being included as accountable institutions — to be finalized in 2022. Aligning Local Laws With FATF Standards The South African Treasury has said it expects the proposals to include crypto asset service providers […]Powered by WPeMatico
Coinbase and 17 Other Crypto Firms Launch ‘Travel Rule Universal Solution Technology’
On Wednesday, the publicly-listed cryptocurrency firm Coinbase announced the launch of a collaborative effort called TRUST, which stands for “Travel Rule Universal Solution Technology.” The plan is described as an “industry-driven solution” developed to comply with the Financial Action Task Force (FATF) Travel Rule. There are currently 18 crypto firms that have joined TRUST so […]Powered by WPeMatico
US-based crypto firms join forces for travel rule compliance
“We are focused on adding new members, so that TRUST can provide comprehensive compliance across the crypto industry,” said the joint announcement.
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Report: Pakistan Likely to Earn Billions From Cryptocurrency
According to a document produced by a Pakistani policy advisory board, the country is likely to earn billions of dollars from crypto-asset holders. Yet for this to happen, the country first needs to create the appropriate regulatory framework for crypto assets. Cryptocurrencies Could Boost Reserves Pakistan may potentially raise billions of dollars from crypto assets […]Powered by WPeMatico
Estonia Clarifies Upcoming Regulations, Will Not Ban Crypto Holding or Trading
The government of Estonia has approved legislation tailored to improve oversight of its crypto sector which expanded rapidly due to favorable regulations and business climate. The new law, which is yet to be adopted, will introduce stricter requirements for service providers without preventing their clients from owning or exchanging cryptocurrencies. Authorities in Tallinn Draft Stricter […]Powered by WPeMatico
India’s Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risks to Consumer Protection
India’s central bank, the Reserve Bank of India (RBI), has warned about multiple risks cryptocurrency poses to the country’s financial stability. “They are also prone to frauds and to extreme price volatility,” the apex bank claims, stressing that “cryptocurrencies pose immediate risks to customer protection and anti-money laundering (AML) / combating the financing of terrorism […]Powered by WPeMatico