Tether is teaming up with Chainalysis to track potential criminal activity on its network, as worldwide regulators push for stronger stablecoin scrutiny. Chainalysis is rolling out a global compliance solution for Tether (USDT), a Feb. 12 press release announced. The stablecoin’s issuer is now able to identify “high risk” transactions occurring on its network. The […]
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So far, 2020 has been a year of cryptocurrency regulation… Now, Australia has unveiled its five-year blockchain strategy. So far, 2020 has been a year of cryptocurrency regulation: The European Union, the United Kingdom and Singapore have officially introduced their approaches to the burgeoning industry. Now, Australia has published its national roadmap, hoping to become […]
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UK regulator FCA has suspended ePayments operations due to anti-money-laundering controls, freezing a million accounts. EPayments Systems Ltd, a United Kingdom-authorized electronic money institution, must suspend online payment operations due to the Financial Conduct Authority’s anti-money-laundering (AML) procedures. EPayments has released a short statement on its website and has sent out emails to its customers […]
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Major Canadian investment fund manager 3iQ and blockchain firm Mavennet co-launched a new regulated stablecoin pegged to the Canadian dollar. Major Canadian investment fund manager 3iQ and blockchain firm Mavennet co-launched a new regulated stablecoin pegged to the Canadian dollar (CAD). Developed by Canada Stablecorp, a joint venture between 3iQ and Mavennet, QCAD is the […]
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An increase in crypto crime brings total direct losses to $4.5 billion, but legacy banks are yet to feel the pain. The nature of cryptocurrency fraud is shifting away from exchange hacks, and toward Ponzi-style frauds, pyramid schemes and exit scams. A massive 533% rise in the value of such crimes means that as misappropriated […]
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Thickening regulations may drive crypto firms out of the EU, the rest will have to comply with “unclear and fragmented” laws for benefits in the long run. The European Union lately has been a hotbed for political and regulatory developments that could have a considerable impact on the day-to-day operations of the continent’s financial service […]
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The deputy director of the U.S. Financial Crimes Enforcement Network says the crypto sector must not abet a “slide backward” in money laundering prevention. The deputy director of the United States Financial Crimes Enforcement Network (FinCEN) says the cryptocurrency sector must not abet a “slide backward” in money laundering prevention. FinCEN deputy director Jamal El-Hindi made […]
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While it’s commonly believed that the price of ETH follows Bitcoin, research shows that ETH is an independent asset. Cryptocurrency market sentiment is often influenced by various factors, such as expert forecasts or political events. However, if analyzing on a wider time frame, it turns out that the prices of most cryptocurrencies — especially of […]
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The MAS’ Payment Services Act has gone into effect, setting up a framework for cryptocurrency regulation in the country. As crypto continues its foray into the mainstream financial world, more countries are recognizing digital assets legally. Singapore is the latest to join the party. On Jan. 28, the Monetary Authority of Singapore’s (MAS) Payment Services […]
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All you need to know for Crypto Tax Season 2020: new guidance, rules, nuances. Be ready to inform the IRS about your crypto. It’s here! The United States tax season officially started on Jan. 27, and this time, crypto tax is in the spotlight. Following developments that culminated in the Internal Revenue Service publishing new […]
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