Financial Action Task Force – DIGIT INFO

Russia’s Digital Currency Measures Fail to Satisfy FATF, Blacklist Possible

DIGIT — Thu, 17 Oct 2024 08:46:23 +0000

Russia’s financial regulator maintains that its anti-money laundering system, including strengthened virtual currency regulations, remains effective even if the country faces potential blacklisting by the Financial Action Task Force (FATF). The agency highlighted new federal laws addressing previous concerns and stressed that no significant deficiencies exist that would justify Russia’s inclusion on the FATF blacklist, […]

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Bybit receives VASP, card operator registration in Argentina

DIGIT — Fri, 16 Aug 2024 17:39:17 +0000

Bybit’s registration as a Virtual Asset Service Provider was made possible by a law passed in July.

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Turkey Prepares New Crypto Law to Align With International Standards

DIGIT — Sun, 12 May 2024 22:14:20 +0000

Turkey is preparing to present a new law to regulate crypto assets to Parliament. The legislation, aimed at aligning with international standards and reducing risks associated with crypto transactions, will enforce strict regulations on the licensing and operation of cryptocurrency trading platforms by the Capital Markets Board. It will also ensure the safe custody of […]

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Russia’s FATF Rating Downgraded Over Crypto Regulation Shortfalls

DIGIT — Fri, 01 Mar 2024 21:15:48 +0000

The Financial Action Task Force (FATF) has lowered Russia’s rating owing to insufficient oversight of cryptocurrencies, as indicated by regional coverage. According to RBC, this downgrade highlights escalating worries about the country’s capacity to oversee and mitigate dubious transactions within the rapidly expanding realm of digital finance. Russia’s Financial Strategy Challenged by FATF Downgrade The […]

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Gemini’s Travel Rule measures reflect ‘worrying creep’ of overregulation

DIGIT — Thu, 09 Nov 2023 00:34:38 +0000

Gemini will be restricting its UK users to sending only to 58 virtual asset service providers that are registered under the Travel Rule starting Nov. 17. A Trezor analyst argues the measures will go against the principles of Bitcoin and financial freedom.

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UK’s Travel Rule comes into effect, could halt certain crypto transfers

DIGIT — Fri, 01 Sep 2023 00:37:00 +0000

The crypto Travel Rule, which came into effect on Sept. 1, aims to stop anti-money laundering and counter-terrorist financing activities carried out on-chain.

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Crypto travel rule implementation ‘remains relatively poor,’ says FATF

DIGIT — Mon, 26 Jun 2023 00:56:45 +0000

The United Nations body called on all member states to implement the Travel Rule “without delay” to close “loopholes” not currently protected by regulation.

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Over 200 Jurisdictions Agree on Timely Implementation of FATF Crypto Standards

DIGIT — Sun, 26 Feb 2023 01:00:39 +0000

The Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries have failed to implement its previous requirements on crypto, including the “travel rule.” Countries Agree to Implement FATF Crypto Standards […]

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Countries ignoring crypto AML rules risk placement on FATF’s ‘grey list’ — Report

DIGIT — Tue, 08 Nov 2022 04:08:11 +0000

Reports suggest the Financial Action Task Force will conduct annual checks to ensure countries are enforcing anti-money laundering rules for crypto providers.

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Terrorists are funding their horrible deeds with crypto: UN officials

DIGIT — Mon, 31 Oct 2022 06:19:47 +0000

Cash and hawala remain the “predominant methods of terror financing,” according to a UN official, however, “advanced” terror organizations are turning to cryptocurrencies.

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