DoJ is now determined to hold the crypto industry to cross-border enforcement standards that have long applied to other sectors of finance. In early October, the U.S. Department of Justice revealed its Cryptocurrency Enforcement Framework, a report laying bare the government’s vision for emerging threats and enforcement strategies in the cryptocurrency space. The document is […]
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CFO at Singapore’s central bank told Cointelegraph about his plans to implement Singapore’s wholesale CBDC. Singapore is ready to launch it’s own central bank digital currency, or CBDC, said Sopnendu Mohanty, chief FinTech officer at Singapore’s central bank and financial regulator, Monetary Authority of Singapore. Speaking on the subject during an exclusive interview with Cointelegraph, […]
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The Ukrainian government is making serious steps toward crypto to make the country a leader in Eastern Europe. Ukraine is ranked as the world’s leader in the Global Crypto Adoption Index 2020, according to a research published by Chainalysis earlier this fall. Despite this, cryptocurrencies still remain a gray area in the economy. Since 2014, […]
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“At that point in time we will make the decision as to whether or not we go forward with the digital euro.” The president of the European Central Bank, Christine Lagarde, has said that the bank should reach a decision on releasing a digital euro early next year. In an online policy panel held on […]
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The notorious tax haven appears to be cleaning up its act on AML and counter terrorist financing ahead of an FATF review. The Ministry of Financial Services of the Cayman Islands Government announced that it has commenced a regulatory framework for virtual asset service providers, or VASPs. In an Oct. 31 press release, the ministry […]
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As Cashaa launches crypto banking services in India, the cryptocurrency industry continues to grow despite uncertain regulations. The people of India are awaiting access to crypto banking services, as British-based fintech firm Cashaa has collaborated with India’s United Multistate Credit Cooperative Society to launch a crypto-centric banking company called Unicas that will initially open 34 […]
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Regulation for initial exchange offerings and digital asset custodians comes into force today. The Securities Commission Malaysia has issued revised guidelines governing digital assets, effective as of Oct. 28. These are intended to regulate initial exchange offerings, or IEOs, and digital asset custodians. According to the SCM, the rules aim to promote “responsible innovation in the […]
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With new changes to the Travel Rule up for discussion and a bevy of new cases in the courts, it’s time to look at how U.S. AML law is shifting to cope with crypto. The ease of laundering money in the U.S. before 1970 boggles the mind. Prior to the Bank Secrecy Act (BSA) of […]
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Regulators are addressing the growing threat of transnational cybercrimes in the financial industry. The United States faces a growing threat of transnational cybercrime, particularly against its financial system. In what may be the largest prosecution of its kind in U.S. history, the U.S. Department of Justice has charged Texas tech billionaire Bob Brockman in a […]
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The changes brought about by 6AMLD will affect a lot of businesses, but there is still time to prepare for new rules. In January 2020, the European Union released its Fifth Anti-Money Laundering Directive to increase transparency while tackling fraud, money laundering and cybercrimes. The 5AMLD extended the scope of customer due diligence checks, introduced […]
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