Biggest fears about Bitcoin’s future: Industry weighs in
Reddit’s Bitcoin community remains optimistic about BTC, but members are still eager to discuss the most valid concerns regarding Bitcoin’s future. Go to Source
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German Authority Seizes 13 Unauthorized Crypto ATMs
Germany’s Federal Financial Supervisory Authority (BaFin) has seized 13 unauthorized cryptocurrency ATMs in a nationwide operation involving 60 officers and raids on 35 locations. BaFin reported that the machines facilitated illegal transactions and posed money laundering risks. Under German law, trading currencies, including cryptocurrencies, without proper authorization is illegal, with violators facing up to five … Read more
Moody’s, Elliptic join forces for enhanced VASP risk screening
The companies will combine their strengths to provide enhanced virtual asset service providers screening ability. Go to Source
Peru Issues VASP Regulation, Strengthens AML/TF Requirements
The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF recommendations and seeks to control and avoid criminals to use these platforms for illicit purposes. … Read more
Thailand distributing digital money to 45M citizens to boost economy
The controversial plan began as a campaign promise and will help lower-income Thais buy more. Go to Source
BitMEX expects ‘no further fines’ for ‘old’ AML violation in US
BitMEX addresses the DOJ’s BSA charge as a past issue, highlighting their compliance improvements and founders’ prior penalties. Go to Source
Paxful co-founder Schaback faces 5 years jail, admits AML failure
Artur Schaback, one of the co-founders of crypto exchange Paxful, has agreed to a plea deal with U.S. prosecutors that could see him locked up for five years. Go to Source
Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian Users
Nigeria-based KuCoin users will begin being levied a 7.5% value-added tax (VAT) on transaction fees starting on July 8. Some observers believe that Kucoin’s decision to implement this tax is intended to enhance its chances of securing an operating license. A Lagos-based crypto industry player stated that implementing the tax will likely harm the industry. … Read more
Binance’s Local Exchange Receives Dubai License, Initiates UAE User Migration
Binance is transitioning UAE resident accounts to its new regulated local entity, Binance FZE, following a Virtual Asset Service Provider license from Dubai’s regulator. This change will allow UAE users to access various virtual asset services locally, including AED bank deposits and withdrawals. Binance’s Local Exchange in UAE Now Licensed Crypto exchange Binance announced on … Read more
Blockchain Association objects to IRS broker rule in letter
The Washington DC-based blockchain advocacy group argued the IRS’ broker rule provisions violate the Paperwork Reduction Act. Go to Source