Bookmarking Crypto Insights
Auto Added by WPeMatico
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 … Read more
A Kenyan agency charged with tracing and freezing proceeds of crime said it recently obtained an order giving it the authority to freeze bank accounts belonging to Nigerian fintech Flutterwave. The agency alleges that Flutterwave is not providing merchant services as per claims, but is instead involved in money laundering activities. Deliberate Attempt to Obscure … Read more
European institutions have reached an interim consensus on a set of EU regulations that will burden crypto companies with the obligation to help prevent money laundering, among other illicit activities potentially involving digital assets. The progress comes as the Union seeks to comprehensively regulate the continent’s cryptocurrency market. EU Officials and Lawmakers Agree on AML … Read more
Laurentino Cortizo, president of Panama, has exercised his veto powers to make a series of objections to the recently approved cryptocurrency law. The observations of the president only touch on certain articles and do not affect the law in its entire scope. However, these articles of the bill will have to be re-discussed, taking into … Read more
Delo was allowed to leave the country to travel to Hong Kong where he is a resident, bringing to a close his part in the legal saga which began in 2020. Go to Source Powered by WPeMatico
The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the local birr currency is the only lawful means of settling transactions in Ethiopia. Illegal Transactions The Ethiopian central bank has warned citizens against engaging in … Read more
Despite the imminent possibility of serving jail time, proactively owning up to the allegations resulted in Hayes being sentenced to six months of house arrest and two years of probation. Go to Source Powered by WPeMatico
The SEC’s decision to expand its digital assets section was well received by industry experts and came as no surprise, given the growing interest in cryptocurrencies. Go to Source Powered by WPeMatico
The annual supervision report from MONEYVAL concluded that 18 of the 22 jurisdictions have an insufficient level of compliance with AML standards. Go to Source Powered by WPeMatico
The bank hinted that the OCC’s actions might help establish a regulatory precedent that could encourage other firms in the space to set up federally regulated digital asset banks. Go to Source Powered by WPeMatico