financial intelligence – DIGIT INFO

Rising crypto crimes in Australia prompt call for tougher regulations

DIGIT — Mon, 15 Jul 2024 07:01:16 +0000

AUSTRAC’s latest report highlights a rise in criminal use of cryptocurrencies, urging stricter regulations and international cooperation to combat money laundering.

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Nearly 400 Crypto Firms Lose Their Estonian Licenses Under New Rules

DIGIT — Thu, 11 May 2023 12:04:58 +0000

The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses are currently authorized to provide digital-asset services. Most Estonian Licenses for Provision of Crypto-Related Services Expire A total of 389 […]

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US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

DIGIT — Thu, 06 Apr 2023 19:30:01 +0000

The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report warns that defi could threaten national security and calls for policymakers to increase oversight. […]

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Full Ban on Crypto in Russia Would Be Counterproductive, Rosfinmonitoring Says

DIGIT — Sun, 11 Dec 2022 06:30:50 +0000

Russian citizens and businesses already own cryptocurrencies, which is why a complete crypto ban would be counterproductive, according to a top executive of Rosfinmonitoring, Russia’s financial intelligence agency. At the same time, the regulator supports prohibiting payments with digital coins and their advertising. Rosfinmonitoring Backs Government’s Strategy to Strictly Regulate Cryptocurrencies in Russia The Federal […]

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Turkey Investigates Former FTX CEO Sam Bankman-Fried for Fraud, Seizes Assets

DIGIT — Thu, 24 Nov 2022 23:30:57 +0000

The Turkish government has launched an investigation on the former chief executive of failed cryptocurrency exchange FTX, Sam Bankman-Fried. According to local media, the authorities in Ankara have also seized assets belonging to the founder of the troubled coin trading platform. Turkey’s Financial Intelligence Unit Initiates Another FTX-Related Probe Financial regulators in Turkey have started […]

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Turkey’s Financial Intelligence Unit Launches Investigation Into FTX Collapse

DIGIT — Wed, 16 Nov 2022 12:30:05 +0000

The Turkish agency responsible for tackling money-related crime has initiated an investigation against troubled crypto exchange FTX. Days after the trading platform filed for bankruptcy in the United States, the department revealed it has been tracking its activities in Turkey. Turkish Financial Watchdog Sets Out to Dig Deeper Into FTX Case Turkey’s Financial Crimes Investigation […]

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Estonia Clarifies Upcoming Regulations, Will Not Ban Crypto Holding or Trading

DIGIT — Tue, 04 Jan 2022 22:30:05 +0000

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 […]

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Estonia Considers Revoking Crypto Licenses as Government Mulls Tougher Regulations

DIGIT — Sat, 16 Oct 2021 01:30:14 +0000

Authorities in Estonia are working on new legislation expected to stiffen the rules for the country’s cryptocurrency sector. The Baltic nation’s regulator for the industry is considering whether to revoke previously issued crypto licenses and restart authorization from scratch. Licensed Crypto Companies Register Millions in Turnover, Estonia Gets Little With only around 1.3 million people, […]

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