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CipherTrace Urges Crypto Companies to Prepare for Anti-Money Laundering Compliance
8.11.2019
How to comply with anti-money laundering regulations while preserving user privacy was a major topic of conversation at this conference
AOFEX Crypto Exchange Aims to Induce Anti-money Laundering Tactics to Protect Users
8.11.2019
Digital currencies or cryptocurrencies, as they are better known as, have been one of the most talked-about pedagogies of the financial sphere in recent times. Where the biggest names of the industry showed trust and gambled their wealth in virtual currencies and its development, there have also...
Ridiculous Crypto Regulations Are an Enemy of Bitcoin
7.11.2019
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...
Bad for Business: How KYC/AML Makes Everyone a ‘Terrorist’
22.10.2019
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. A recent trip to the local post office for a money order certainly had a negative...
Anti-Money Laundering Laws Apply to Crypto Too, Says FinCEN Chief
22.10.2019
The director of FinCEN says that Anti-Money Laundering laws apply to everyone, including firms offering anonymous cryptocurrency services
Rare Joint Statement From U.S. Regulators Proves Crypto Centralization Is Here
17.10.2019
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...
Traders Bemoan New Localbitcoins Identity Requirements
28.9.2019
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...
Netherlands May Block Foreign Crypto Firms Under Anti-Money Laundering Laws
11.9.2019
The current crypto legislation before the Dutch Parliament not only mandates domestic companies register with the central bank but that foreign entities will not be allowed to conduct services within the country
Libra Must Comply with Anti-Money Laundering Standards: US Treasury
10.9.2019
Facebook’s Libra stablecoin must meet the highest Anti-Money Laundering and terrorism financing norms, according to a United States Treasury official
Dutch Central Bank Prepares to Start Regulating Crypto Sector
4.9.2019
The central bank of the Netherlands is preparing to supervise the country’s crypto sector. The bank has requested crypto exchanges and wallet providers to come forward and submit some information. Once the law takes effect, these operators will be required to register with the central bank...
EU Members Adopt Tougher Crypto Rules Than AML Directive Requires
13.8.2019
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. The measures stem from the obligation of member...
Thailand to Bring Cryptocurrency Under Anti-Money Laundering Rules
5.8.2019
Thailand's anti-money laundering regulator is planning to amend the country's laws to mandate reporting by cryptocurrency exchanges
Spain Thwarts Bitcoin ATM Scam, Prompting Regulatory Debate Worldwide
16.7.2019
Bitcoin ATMs are not currently governed by EU money laundering regulations, and arrests coordinated by Spanish police and Europol in May are bringing new focus to this loophole. A group of eight Spanish and Latin American individuals have been arrested, along with several of their associates,...
Ripple’s Newest Partnership Demonstrates Its Move For Anti-Money Laundering
28.6.2019
The crypto industry has always struggled when it comes to money laundering instances, including numerous threats and hacks taking place ever so often. Ripple seems to have taken a big move to avert such a scenario with its latest partnership with Coinfirm, which is a start-up in the regulation...
Enforcement of Updated Crypto Guidelines From FATF Has Far-Reaching Implications
25.6.2019
The FATF (Financial Action Task Force) has revealed updated guidelines that would require cryptocurrency and digital asset exchanges—and potentially independent business owners and crypto holders—to share sensitive customer information as VASPs (Virtual Asset Service Providers)...
Beyond KYC: Global Regulators Appear Set to Adopt Tough New Rules for Crypto Exchanges
20.5.2019
Exchanges will likely have to collect information about their clients' crypto transactions under new global standards expected in June