Qatar’s National Solarized Fintech Strategy Amid COVID-19 Pandemic
The nation of Qatar is a World Bank “high-income economy,” backed by the world’s third-largest natural gas and oil reserves. It has the third-highest GDP per capita in the world …
AML
Decentralized Exchanges Are Building a Life Raft but Need a Bridge
Recently, crypto traders have shown a lot of enthusiasm for decentralized exchanges, or DEXs. The enthusiasm is warranted. We’re starting to see the fruits of many years of hard work …
Door Still Open for Future ZEC Relisting, Liquid Exchange COO Says
After delisting privacy-focused asset Zcash (ZEC) in pursuit of regulatory compliance, Japanese exchange Liquid is not against a future relisting, pending regulatory clarity. “Regarding ZEC and our decision to temporarily …
Liquid Exchange Confirms Asset Delistings Due to Regulatory Requirements
Japanese exchange Liquid recently unveiled a mass asset removal from its platform, which COO Seth Melamed claimed necessary for legal compliance. “Liquid works closely with regulators in Japan and Singapore,” …
Checklist for Crypto ATM Operators
The very first Bitcoin (BTC) ATM came to the United States in 2014 to Austin, Texas. This historic event occurred quickly after Canada pioneered the idea in 2013, and the …
Japanese Liquid Exchange to Delist Zcash to Get Licensed in Singapore
Japanese cryptocurrency exchange Liquid is reportedly delisting privacy-focused coin Zcash (ZEC) in order to apply for a license to operate in Singapore. The Electric Coin Company, which develops the Zcash …
Romania Is on the Way to Blockchain and Crypto Regulation
The European Union and the European Central Bank wanted to create a unitary legal framework that would limit the anonymity of cryptocurrency transactions, especially in the spectrum of money laundering, …
FATF Meeting Scheduled to Discuss VASPs Compliance With Travel Rule
The Financial Action Task Force (FATF) has a plenary meeting scheduled on June 24 to assess the progress of Virtual Asset Service Providers (VASPs) worldwide in enforcing the organization’s “travel …
Bitcoin ATMs Face Tighter Regulations Over Money Laundering
Experts predict that Bitcoin ATMs (BATMs) will face stricter regulations worldwide, with countries including Canada and Germany already moving to tighten up anti-money laundering requirements. A June 2 report from …
3 Common Compliance and Regulatory Pitfalls to Watch for in 2020
Regulations are not going anywhere. On the contrary, financial service providers face more regulatory challenges and higher costs than ever before. During the early days of cryptocurrencies, a “Wild West” …
One-Man Crypto Company Crushed by Netherlands’ AMLD5 Implementation
Dutch Bitcoin (BTC) savings platform, Bittr, has decided to cease operations ahead of Holland’s introduction of the EU’s AMLD5 anti-money laundering, or AML, regulations. Bittr’s closure follows criticism of the …
Upbit Extends Its Partnership With Chainalysis for Enhanced Crypto Compliance
Chainalysis announced the extension of its cooperation with South Korean crypto exchange Upbit today, aiming to provide blockchain analysis support across the Asia-Pacific region (APAC). According to the announcement, Upbit …
COVID-19 Pandemic Spurs Crypto Law Updates in J5 Countries
Cybercriminals are taking full advantage of the COVID-19 pandemic, which has forced life into a digital realm, by leveraging increased fear and uncertainty to steal money and launder it through …
French Financial Regulator Responds to EU’s Crypto Consultation
As the European Commission finished its public consultation on cryptocurrency assets in March, France’s major financial regulator stepped in to express its stance on the matter. The Autorité des Marchés …
Crypto Payment Network Partners With ID Screening Service
Cryptocurrency network TemTum is partnering with identity verification service Shufti Pro to provide Anti-Money Laundering (AML) and Know Your Customer (KYC) screening services for its customers. As part of the …
FBI Arrests Russian Rapper For Crypto Money Laundering, Cites Damning Instagram
United States authorities have arrested a Russian national under allegations of money laundering — using his Instagram that promoted his rap career as evidence against him. Per court filings unsealed …
Canada Tightens Crypto Regulations Alongside AML/CTF Overhaul
The Financial Transactions and Reports Analysis Center of Canada (FINTRAC) has announced it will soon implement new anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. The laws including updated guidelines …
Monetary Authority of Singapore Issues AML/CFT Guidelines
Some countries have been late to the party when it comes to recognizing and regulating digital assets. The first time that Singapore’s central bank issued a framework for the regulation …
German Financial Regulator Further Clarifies Crypto Status With New Paper
The German financial watchdog (BaFin) issued a new summary leaflet detailing how cryptocurrencies are treated under newly enacted laws for 2020. The instructions are presented as BaFin’s interpretation of the …
Hong Kong and Abu Dhabi Change Crypto Regulations to Align With FATF
On Feb. 26, Hong Kong’s financial secretary Paul Chan stated that his administration will strengthen its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) policies regarding cryptocurrencies. In his recent budget …
Financial Watchdogs See Crypto as Illicit by Default
Recently, financial regulators around the world have been growing concerned about the role of cryptocurrency in money laundering and financing of various illicit activities. The first two months of 2020 …
