If recent developments are any indication, Bermuda is perhaps well on the path to quickly becoming the global leader for the issuance of digital assets.
Bermuda seeks to embrace the potential afforded by digital assets but not at the expense of tarnishing its pristine international finance reputation.
Bermuda recognizes that digital assets present significant risks that require robust anti-money laundering (AML) and anti-terrorism financing (ATF) regulations but believes that the ICO Act and DABA are suitable safeguards.
The Digital Asset Business Act DABA, which was passed in June 2018, regulates “digital asset business” conducted in or from Bermuda.
These endeavors should solidify the island as the jurisdiction of choice for international fintech entrepreneurs and confirm the Bermuda Standard as best-in-class.
Israel authorities have seized accounts on the Binance crypto exchange that were used by Hamas and the Islamic State, per a Reuters report.
The post Binance Accounts Used By Hamas and Islamic State Seized by Israel appeared first on BeInCrypto.
The National Bank of the Kyrgyz Republic (NBKR) revealed its new-year plans for the national crypto industry. They are about to introduce two drafts to regulate the country’s exchanges that aim to combat terrorism, money laundering, and protecting consumers.
Commercial banks by far pose the greatest risk of money laundering in Mexico compared to crypto-related companies, according to a new report by the country’s Financial Intelligence Unit (FIU).
Blockchain intelligence firm Chainalysis has dismissed claims ISIS is holding a $300 million bitcoin (BTC) war chest. In a “fact-checking” report, published on May 20, 2020, the U. S.
The Australian Transaction Reports and Analysis Centre (Austrac) has now officially registered 246 cryptocurrency exchanges. Pro-regulation industry participants have described the move as a key step towards legitimizing crypto assets.
On October 18, the Switzerland-based Capital Markets and Technology Association (CMTA) published new anti-money-laundering (AML) standards for digital assets and distributed ledger technologies (DLT).
