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The Philippines has officially exited the FATF grey list. Learn how the SEC plans to strengthen anti-money laundering (AML) compliance through Project HARBOR, expanded NPO outreach, and new crypto regulations.
The Financial Action Task Force (FATF) has lowered Russia’s rating owing to insufficient oversight of cryptocurrencies, as indicated by regional coverage. According to RBC, this downgrade highlights escalating worries about the country’s capacity to oversee and mitigate dubious transactions within the rapidly expanding realm of digital finance. Russia’s Financial Strategy Challenged by FATF Downgrade The [...]
The post Russias FATF Rating Downgraded Over Crypto Regulation Shortfalls appeared first on Crypto Breaking News.
Stricter anti-money laundering (AML) measures for the crypto sector in Japan will enter into force next month, local media reported. The new rules were adopted to align the country’s legal framework for cryptocurrencies with global standards in the field. Japan to Enforce Legislation Allowing the Tracing of Crypto Transactions The Cabinet of Japan, the executive
The post Japan to Apply Tougher Crypto AML Regulations, ‘Travel Rule’ in June appeared first on BTC Ethereum Crypto Currency Blog.
The Japanese parliament has decided to roll out tougher AML procedures in line with the “travel rule.”
Just a few weeks after tapping its best exchange rate versus the greenback in 2023, the South African rand fell to a new 2023 low of 18.636 local currency units for every dollar on March 7. South Africa’s power shortages as well as the country’s recent grey-listing by the Financial Action Task Force (FATF) are [...]
The post South African Rand Plunges to New 2023 Low Versus the US Dollar appeared first on Crypto Breaking News.
Over 200 governments agreed to tighten the "application of FATF Standards on virtual assets and virtual asset service providers". (Read More)
FATF has called for greater adoption of Digital Asset Service Provider Travel Rule to curb illicit fund flows using cryptocurrencies. The Travel Rule was amended in 2019 to require Digital Asset Service Providers to collect and share data about the source and destination of digital asset transfers over $1,000. Russia’s membership has been suspended, and […]
Argentina is preparing to revamp its anti-money laundering and terrorism financing law. It has proposed to include the creation of a registry for virtual asset services providers (VASPs) in the country as part of the new modifications. The changes would prepare the country for the review that the Financial Action Task Force (FATF) is slated
The post Argentina to Revamp Anti Money Laundering Law, Proposes Creation of VASP Registry appeared first on BTC Ethereum Crypto Currency Blog.
The FATF wants its member countries to enforce AML and terrorist financing rules (TFC) on crypto providers.
The post AML Watchdog to Countries: Enforce FATF Crypto Travel Rule appeared first on BitPinas.
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Are the recent "dismissiveness" about crypto by our regulators is really because the Philippines is still in the FATF Gray list?
The post [Newsletter] CryptoPH Wrap-up – BSP Wants More Crypto Surveillance? appeared first on BitPinas.
The FATF released meeting notes hinting at an upcoming report on recommendations for business compliance with the Travel Rule and “unhosted wallets.”
Regulation will touch every person in every jurisdiction worldwide; crypto must find ways to preserve its decentralization and privacy.
The organization reported that only 9% of countries were “substantially effective” in areas including transparency in beneficial ownership.
Complying with the rules puts South Korea ahead of the curve for regulating virtual assets, but may be harming the domestic industry with overbearing transfer restrictions between exchanges.
Bybit announces becoming a member of the VerifyVASP alliance. Bybit brings cryptocurrencies transactions on its platform. Bybit’s participation will help ...
“We ... adding new members so that TRUST can provide comprehensive compliance across the crypto industry,” said the joint announcement.
The Travel Rule, which now governs service providers in the digital currency ecosystem, is arguably not a source of concern as a new report from Notabene shows many firms in the space are in compliance already. (Read More)
Bitcoin was created to obliterate the type of control that the FATF seeks to enforce.
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