Tag Archives: fatf

CoinspeakerBinance Strengthens Anti-Money Laundering Efforts, Joins Global Travel Rule Alliance The move by Binance to join the GTR Alliance comes after the company agreed to pay $4.3 billion to settle criminal money laundering charges brought by the US Department of Justice. Binance Strengthens Anti-Money Laundering Efforts, Joins Global Travel Rule Alliance

Turkish Finance Minister noted that work related to the crypto assets regulations is the final outstanding matter in order to achieve full compliance with FATF standards. Turkey’s finance minister has revealed the country’s intentions to introduce new crypto regulations, aiming to secure removal from the Financial Action Task Force’s “grey list” of nations lacking sufficient anti-money laundering measures. Back in 2021, the FATF had put Turkey on the grey list. As per the Reuters report...

The Crypto Travel Rule was created by the UN’s Financial Action Task Force (FATF) in June 2019 as a measure to prevent illicit actors from laundering money through cryptocurrencies. Commencing today, September 1, a new regulatory requirement is now in effect for cryptocurrency-related enterprises operating within the United Kingdom. This crypto rule was initially introduced by the Financial Conduct Authority (FCA) on August 17. It obligates Virtual Assets Service Providers (VASPs) to...

CoinspeakerKuwait Authorities Impose Ban on Bitcoin and Other Virtual Asset Transactions  The ban crypto transactions in Kuwait is reportedly part of a broader regulatory initiative that involves multiple supervisory authorities, including the Ministry of Commerce and Industry, the Central Bank of Kuwait, and the Insurance Regulatory Unit. Kuwait Authorities Impose Ban on Bitcoin and Other Virtual Asset Transactions 

Japan will implement stricter rules for exchanges, including the implementation of the FATF travel rule, to combat money laundering and ensure transparency in cryptocurrency transactions. On May 23, Japan announced that it will implement stricter measures against money laundering (AML) in cryptocurrency transactions starting from June 1, in order to comply with global regulations. According to Kyodo News, the decision to strengthen the regulations was made after a review of relevant laws...

Global Startup Ecosystem Report 2020: London ist Europas Nummer eins an der Spitze der weltweiten Startup-Regionen, Berlin fällt zurück The British Treasury has decided that crypto companies do not need to collect information about users‘ wallets. As a result, users will not have to prove that a particular receiver address belongs to them. The reason for this decision is that the government is concerned about privacy. No good evidence for...

Die Financial Action Task Force veröffentlichte im Juni 2019 einen Leitfaden, mit dem die Kryptoindustrie den gleichen Standards wie die herkömmlichen Finanzinstitute unterworfen werden soll. Im Crypto Valley hat sich die VASP Initiative gegründet, welche der Regelung mit hoher Effizienz nachkommen möchte. Die Anbieter virtueller Vermögenswerte (VASPs) sehen in der Anwendung der Travel Rule die größte Herausforderung. Die Regulierungsbehörden der Länder sollen sich an die...

Binance will now work with the Shyft Network provides industry-wide solutions to meet the FATF requirements. For this, the network uses its database bridging, identity passporting, and data attestation infrastructure. As crypto exchange Binance spreads its wing in the global market, it is working on complying with the Financial Action Task Force (FATF) regulations. Recently, Binance joined hands with public blockchain protocol Shyft Network for cross-industry KYC data sharing.The Shyft...

Gulliver Trade Center in Kiev, Ukraine Die Ukraine ist Kryptowährungen alles andere als abgeneigt: Im ukrainischen Parlament, der Werchowna Rada, haben die Abgeordneten ein Gesetz verabschiedet, das Bitcoin zum Eigentum erklärt. Damit wird Bitcoin ein legales Tauschmittel und der Staat garantiert Rechtssicherheit im Handeln, Bezahlen, Transferieren und Investieren. Auch...

In what has been seen as a big win for the crypto space the South Korean National Assembly’s National Policy Committee has passed a bill that will create a framework that formally classifies crypto tokens and other virtual currencies as digital assets. Sources indicate that this move came on Tuesday as one of the crypto space’s most friendly countries now wants to create a foundation for the operations of cryptocurrency businesses.The bill also sets rules for cryptocurrency-related businesses...