Powered by WPeMatico
Category: Society for Worldwide Interbank Financial Telecommunication (SWIFT)
Auto Added by WPeMatico
EU Seeks to Curb Reliance on US Dollar After American Sanctions Exposed Financial Infrastructure Vulnerabilities
Powered by WPeMatico
Unbanked Hong Kong Chief Carrie Lam: “I Have Piles of Cash at Home”
Hong Kong Chief Executive Carrie Lam says she is currently unbanked and keeps piles of cash stashed at her home courtesy of US sanctions. Alongside 14 Chinese and Hong Kong officials, Lam has been slapped with punitive measures that effectively cut her off from the banking system. The US government announced the sanctions in response […]
The post Unbanked Hong Kong Chief Carrie Lam: “I Have Piles of Cash at Home” appeared first on Bitcoin News.
Powered by WPeMatico
FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls
The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote financial inclusion. Yet despite this acknowledgment, the FSB still argues against the […]
The post FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls appeared first on Bitcoin News.
Powered by WPeMatico
SWIFT Says Criminals Prefer Cash for Money Laundering, Not Cryptocurrency
A new report by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) says cryptocurrency is seldom used for money laundering activities compared to fiat or other traditional methods. Despite the perception that crypto assets are a preferred haven for illegally acquired funds, criminals prefer to launder proceeds through mules, front companies, or cash businesses as […]
The post SWIFT Says Criminals Prefer Cash for Money Laundering, Not Cryptocurrency appeared first on Bitcoin News.
Powered by WPeMatico