2019-11-13 14:50 |
Reports show that fiat currency is still the favorite choice for money laundering, with 2–5% of all transactions being illicit, yet regulators ferociously attack AML policies
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One of the biggest privacy issues in today’s society revolves around the use of overreaching know-your-customer (KYC) and anti-money laundering (AML) laws. Despite the fact that many cryptocurrencies were designed to avoid these invasive practices, KYC and AML guidelines bolstered by political parasites and their followers have perverted the original crypto-anarchist ideologies espoused by the […] The post Ridiculous Crypto Regulations Are an Enemy of Bitcoin appeared first on Bitcoin News.
2019-11-8 00:55 | |
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Leading crypto exchange, Bittrex, announced that it was leaving Malta last week and setting up new headquarters in Liechtenstein. According to a market onlooker, the relocation has taken place around the same time the Maltese government has announced plans to tighten its money laundering policy for cryptocurrency businesses.
2019-10-29 16:30 | |
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Cryptocurrency traders using the Netherlands-based Bitcoin futures and options trading platform, Deribit, may soon have to undergo rigorous KYC and AML procedures. The change will come into effect starting early Jan 2020 and are in line with the guidelines prescribed by the fifth EU Anti-Money Laundering Directive (AMLD 5).
2019-10-26 06:14 | |
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At the University of Georgetown, The United States Financial Crimes Enforcement Network (FinCEN) and it's executive Kenneth Blanco gave their views where he clarified that the Anti-Money Laundering (AML) laws straightforwardly apply to everybody.
2019-10-22 19:10 | |
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On October 21, director of the Financial Crimes Enforcement Network (FinCEN), Kenneth Blanco, spoke at the University of Georgetown. During his speech, he stated that Fintech firms offering anonymity to cryptocurrency users would also be subject to anti-money laundering (AML) laws.
2019-10-22 12:30 | |
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“The financial services industry is spending $20 billion a year on AML and KYC. So I would ask you: is it even working? I don’t think it’s working”
2019-10-23 12:16 | |
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Two reports from risk solutions group Lexisnexis assert that anti-money laundering (AML) and know your customer (KYC) policies can negatively affect a business’s bottom line and customer service significantly.
2019-10-22 03:00 | |
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The U. S. SEC, Fincen and CFTC issued a rare joint statement Friday addressing regulation of “activities involving digital assets. ” Citing crypto’s perceived role in money laundering and terrorism, the regulatory power trio prescribed stricter adherence to anti-money laundering (AML) policies and know your customer (KYC) protocols.
2019-10-17 01:13 | |
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Popular cryptocurrency exchange Binance has officially announced a partnership with international regulation technology company Coinfirm in an effort to deal with new guidelines pertaining to the Financial Action Task Force’s anti-money laundering (AML) rules.
2019-10-10 15:08 | |
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The UK’s Financial Conduct Authority is cracking down on cryptocurrency exchanges, ATMs, and open-source projects like wallet providers. These services will have to comply with anti-money laundering regulations by 2020, imposing banking-style controls over crypto in the nation.
2019-10-9 13:50 | |
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In a bid to comply with anti-money-laundering (AML) guidelines of the Financial Action Task Force (FATF), leading cryptocurrency exchange Binance has joined forces with Coinfirm, a platform that claims to be the global leader in regulation technology (RegTech) for the distributed ledger technology (DLT) ecosystem.
2019-10-4 19:00 | |
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Top crypto exchange platform Binance has teamed up with crypto analytic firm Coinfirm to enhance its anti-money laundering (AML) adherence. The new partnership will see Binance integrate Coinfirm’s agnostic AML platform to improve the crypto exchange’s compliance with the new AML requirements recently provided by the Financial Action Task Force (FATF), the global financial supervision […]
2019-10-4 00:14 | |
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Binance, the world’s leading exchange in terms of driving crypto innovation, has bagged another partnership with regulation technology company Coinfirm. As per the official blog post, “Binance and Coinfirm announced their partnership to address the recently issued guidelines on anti-money laundering (AML) rules by the Financial Action Task Force (FATF).
2019-10-4 21:25 | |
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Chainalysis, a blockchain tracking and investigations company, has added five new tokens to its lists of trackable assets. Now, the company will expand its anti-money laundering services to include Dai (DAI), 0x (ZRX), Basic Attention Token (BAT) and OmiseGO (OMG).
2019-10-3 20:34 | |
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One of the biggest barriers in the adoption of cryptocurrencies by an average person is the tedious method of acquiring crypto and subsequently using them for day to day activities. Jumping through hoops of Know Your Customer (KYC) and Anti Money Laundering (AML) checks only lands the interested person on an exchange that makes it […] The post Exchange and Spend Crypto as Easily As Cash with HOLD Crypto Exchange and Debit Card appeared first on NullTX.
2019-10-2 17:30 | |
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Recent data shows that countries with corrupt governments have a strong correlation with Localbitcoins trade volumes. However, even though the over-the-counter (OTC) marketplace Localbitcoins has grown massive over the years, traders are complaining about heightened know-your-customer/anti-money laundering requirements.
2019-9-28 03:30 | |
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Big Brother is watching you, but his eyes are really on your wallet. The UK’s chief financial watchdog could require crypto developers to keep track of their software’s users, in order to meet new anti-money laundering requirements that are expected to come into force next year.
2019-9-14 18:44 | |
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United States Treasury Under Secretary of Terrorism and Financial Intelligence, Sigal Mandelker, has declared that Facebook’s proposed Libra global cryptocurrency project will not be launched unless Libra complies with tough anti-money laundering (AML) and anti-terrorist financing standards, reports Reuters on September 10, 2019.
2019-9-11 16:16 | |
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Although Facebook’s Libra initiative hit a hard stop just before the launch, discussions around restarting the project is one of the hottest topics within the U. S. jurisdiction. As of latest, a senior U.
2019-9-11 01:45 | |
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The highly anticipated Facebook’s crypto, Libra, must meet stringent US regulatory requirements before it can be launched, says an official from the US treasury. According to Treasury’s Under Secretary in charge of terrorism as well as financial intelligence, Sigal Mandelker, the Libra stablecoin must achieve the highest standards for fighting money laundering as well as […]
2019-9-10 21:02 | |
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More updates have emerged regarding the closure of one of Thailand’s largest Bitcoin exchanges, reports the Bangkok Post. Sources say the move was due to the platform not being keen on complying with some of the more stringent anti-money laundering (AML) provisions set forth by regulators.
2019-9-6 13:00 | |
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FINMA, the financial market regulator in Switzerland, has released a guide in line with FATF rules in order to target KYC/AML compliance for blockchain payments companies and cryptocurrencies. Any party that transacts in cryptocurrencies or transmits money over the blockchain is liable to comply with existing money laundering regulation in Switzerland, August 26, 2019.
2019-8-27 01:00 | |
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Switzerland’s Financial Market Supervisory Authority has released updated know-your-customer (KYC) and anti-money laundering guidelines, requiring blockchain service providers to conduct KYC checks and notify the Money Laundering Reporting Office Switzerland should they identify suspicious activity on their platforms.
2019-8-27 19:16 | |
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The Association of Cryptocurrency Enterprises and Start-ups, Singapore (ACCESS) together with the Monetary Authority of Singapore (MAS) developed a new ‘Code of Practice’ to set standards of good practice regarding Anti-Money Laundering (AML) and countering the financing of terrorism measures for crypto-related businesses.
2019-8-20 13:00 | |
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Europe is gradually tightening the rules for the crypto space. A wave of new regulations are introducing stricter requirements for companies operating in the industry and cryptocurrency users are going to feel the difference in the coming months.
2019-8-14 22:25 | |
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Japanese VC Trade has adopted CoolBitX’s Sygna, a know-your customer and anti-money laundering compliance technology focused on digital currency transactions
2019-8-9 21:10 | |
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Tokyo based crypto exchange company that was started by SoftBank last year, VC Trade, has collaborated with blockchain security company CoolBitx for KYC. CoolBitX made the announcement alongside the launch of Sygna, its know-your-customer (KYC) and anti-money laundering (AML) compliance-focused cryptocurrency transaction and security solution.
2019-8-9 20:33 | |
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The Treasury Secretary of the United States of America, Steve Mnuchin, told CNBC in an exclusive interview that G7 financial heads were not comfortable with Libra and expressed their doubts over the ability of the payment consortium to adhere to anti-money laundering (AML) and money transmission regulations.
2019-7-21 23:00 | |
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Japanese blockchain company BUIDL has launched SHIEDL, an anti-money laundering (AML) and counter financing of terrorism (CFT) tool for cryptocurrency exchanges.
2019-7-26 22:00 | |
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With Libra under intense scrutiny, U. S. lawmakers are having to understand the difference between bitcoin and Facebook’s crypto project. Bitcoin is Already a Regulated Space Speaking to CNBC, Meltem Demirors, Chief Strategy Officer (CSO) at CoinShares, highlighted the already regulated nature of the bitcoin space.
2019-7-19 23:00 | |
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The representative of Libra David Marcus tried to convince the US Senate that the cryptocurrency does not threaten bankers. Did he succeed? We will see soon. Marcus first of all drew the attention of senators that Libra will strictly follow AML standards (anti-money laundering) and will generally be registered with the FinCEN (Financial Crimes Enforcement […]
2019-7-18 13:03 | |
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Spain’s Guardia Civil (Civil Guard) police unit has indicated that current rules in Europe are inadequate with regards to discouraging the use of Bitcoin ATMs to launder money. According to Bloomberg, this deficiency results from the fact that the owners of the Bitcoin ATMs are not required by the strict AML regulations to vet users […] The post Multi-Million Bitcoin ATM Scheme Exposes Holes in EU’s Money Laundering Net appeared first on CCN Markets
2019-7-14 08:51 | |
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Spain’s Guardia Civil (Civil Guard) police unit has indicated that current rules in Europe are inadequate with regards to discouraging the use of Bitcoin ATMs to launder money. According to Bloomberg, this deficiency results from the fact that the owners of the Bitcoin ATMs are not required by the strict AML regulations to vet users […] The post Multi-Million Bitcoin ATM Scheme Exposes Holes in EU's Money Laundering Net appeared first on CCN Markets
2019-7-13 08:51 | |
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Spanish law enforcement says Bitcoin ATMs enable criminals to circumvent anti-money laundering (AML) regulations according to a report by Bloomberg. This statement comes following calls from officials in Canada for crypto cash machines to be banned over money-laundering concerns.
2019-7-13 01:00 | |
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CryptoNinjas - Bitcoin, Cryptocurrency & Blockchain Asset SourceThe Bitfury Group a full-service blockchain technology company, has announced a collaboration with Massachusetts, U. S. -based The Provident Bank to use its Crystal blockchain analytics platform for new digital asset compliance, including anti-money laundering services.
2019-7-11 19:44 | |
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In a bid to make it harder for drug traffickers, fraudsters, and other bad actors to launder money both in the form of cryptocurrency and fiat, the Netherlands’ Minister of Finance, Wopke Hoekstra, and Minister of Justice, Joseph Grapperhaus, have submitted new anti-money laundering (AML) proposals to the nation’s Lower House of Parliament, according toRead MoreRead More.
2019-7-2 19:00 | |
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Contrary to the prevailing narrative, the incoming Financial Action Task Force (FATF) anti-money laundering (AML) guidelines for cryptocurrencies might not be overly negative for the industry. However, there are still a few vague aspects of the FATF’s document that might require a little extra clarifying before it publishes its interpretive note later in 2019.
2019-6-24 09:00 | |
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According to the nonprofit research and advocacy center called Coin Center, the proposed anti-money laundering (AML) and counter-terrorism financing (CTF) regulations violate users’ privacy rights. Coin Center has urged Her Majesty’s Treasury not to implement these regulations.
2019-6-11 02:50 | |
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Nonprofit crypto policy center Coin Center has urged Her Majesty’s Treasury not to over-broaden the scope of U.K.’s anti-money laundering/counter terrorism financing regulations
2019-6-11 22:36 | |
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Malta, one of the most friendly jurisdictions for Bitcoin (BTC), cryptocurrencies and blockchain technology, is currently being questioned by the European Union (EU) for its friendly KYC and AML policies it has.
2019-6-6 23:09 | |
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Malta should increase its anti-money laundering policing to match the growth in financial and crypto services, according to the EU.
2019-6-6 20:30 | |
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According to a press release issued May 29, 2019, Japanese e-commerce giant Rakuten Group’s subsidiary, Rakuten Wallet, entered into a partnership with blockchain security firm CipherTrace to bolster its upcoming cryptocurrency exchange’s anti-money laundering (AML) measures.
2019-5-30 13:28 | |
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CryptoNinjas Blockchain security company CipherTrace and Rakuten Wallet — a subsidiary of Rakuten Group, a global company that operates one of the largest e-commerce sites in Japan, today announced a partnership to assure anti-money laundering (AML) compliance for the company’s anticipated cryptocurrency exchange.
2019-5-30 17:46 | |
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IdentityMind has just gone ahead to announce that Bittrex platform will be utilizing their Digital Identities Platform. They will be using the platform for the automated transaction monitoring as their core function in the AML program they have in place, this is for both the Bittrex.
2019-5-23 19:38 | |
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Cryptocurrency exchange Bittrex on May 21, 2019, announced that it had partnered with blockchain security solutions firm IdentityMind to bolster its anti-money laundering (AML) measures. Tightening Security Measures The Financial Action Task Force’s (FATF) persistence to establish strict crypto regulations across the globe has weighed down on exchange platforms who have, to date, been followingRead MoreRead More.
2019-5-22 20:00 | |
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On 19 May, 2019, @Whale_Alert tweeted a transaction of 2000 BTCs between Bitfinex and an unknown wallet, which after in-depth research by a Twitter user, confirmed that it was linked with wash-trading, mixing and laundering of funds.
2019-5-22 12:01 | |
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It looks as if cryptocurrency service providers will have to adopt stricter know-your-customer (KYC) policies all across the world — and not everyone is happy about that.
2019-5-13 21:33 | |
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On Thursday (May 9, 2019), the U. S. Financial Crimes Enforcement Network (FinCEN) published new guidelines showing how anti-money laundering (AML) laws apply to Bitcoin and the rest of the cryptocurrency in general.
2019-5-12 22:00 | |
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Two Israeli citizens have been apprehended by law enforcement based on suspicions that they developed and ran a darknet marketplace for dealing illegal goods. The Israeli police announced via Twitter that it has collaborated with the United States Federal Bureau of Investigation (FBI) to arrest two locals who they believe managed the dark web marketplace, which used bitcoin to facilitate trades.
2019-5-8 18:42 | |
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Paxos is looking to expand its presence in the European Union through a new deal for Finland-licensed e-money platform Membrane Finance. Paxos, which issues stablecoins such as Pax Dollar, PayPal USD (PYUSD), and Pax Gold (PAXG), disclosed the potential deal…
Binance has introduced a new stablecoin, BFUSD, with an annual percentage yield of 19.55%. The stablecoin is designed to appeal to crypto users seeking passive income. The total supply of BFUSD is capped at 20 million tokens, and the stablecoin…
Tether will invest in Quantoz Payments to support the launch of euro and U.S. dollar-pegged stablecoins, EURQ and USDQ. In an announcement on Nov. 18, Tether revealed plans for an upcoming investment in the Netherlands-headquartered payments firm to facilitate the…
Dutch fintech firm Quantoz to roll out MiCAR-compliant stablecoins pegged to the euro and U.S. dollar in a bid to facilitate payments and transfers across markets. Quantoz Payments, a Netherlands-headquartered payment tech firm, plans to debut two MiCAR-compliant stablecoins —…
Crypto could stave off the U.S. debt crisis, according to Former House Speaker Paul Ryan in his recent op-ed published in the Wall Street Journal. Ryan argues that America’s $35.46 trillion and rising debt threatens the U.S. dollar’s status as…
Binance will be the first platform to launch the stablecoin USUAL on Nov. 19. The crypto exchange will provide trading support for USDT and USUAL trading pairs. In a notice published on Nov. 14, Binance announced the 61st project that…
Transfero, a stablecoin issuer focused on Latin American currencies, has tapped Wormhole as its interoperability provider. The Brazil-based fintech company announced the development on Nov. 13, noting that integrating Wormhole (W) will help power its stablecoins amid a multi-chain approach.…