Category: FATF

The Global Challenge of Regulating Virtual Assets

December 24, 2020

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Dec 24, 2020 at 4:00 p.m. UTC The Global Challenge of Regulating Virtual Assets The convergence of traditional finance and cryptocurrencies was more profound than ever this year. From the maturation of crypto-first digital commerce to MicroStrategy’s big bitcoin buy, it was a year of rampant technological adoption.  With the professionalization of the crypto industry […]

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France moves to ban anonymous crypto accounts to prevent money laundering

December 10, 2020

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France is preparing new frameworks to prevent anonymity in crypto. 6456 Total views 14 Total shares French financial authorities are strengthening the country’s cryptocurrency regulations in a move to prevent illicit activities like money laundering and terrorism financing. On Dec. 9, several ministries in France jointly introduced an order aiming to prevent anonymous digital asset […]

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Industry Pros Weigh In on Rumors of New Crypto Wallet Regulations

November 27, 2020

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Nov 27, 2020 at 3:21 p.m. UTC Treasury Secretary Steven T. Mnuchin (Toni L. Sandys-Pool/Getty Image) Industry Pros Weigh In on Rumors of New Crypto Wallet Regulations Recent rumors about U.S. regulation of private, self-hosted crypto wallets have some compelling context. For example, the proposal submitted last month by U.S. authorities to lower the anti-money […]

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Russia’s Gazprombank debuts Bitcoin trading in Switzerland

November 23, 2020

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The Switzerland-based branch of a major Russian bank has also joined OpenVASP. 9417 Total views 36 Total shares Gazprombank Switzerland, a subsidiary of one of the largest banks in Russia, has piloted its Bitcoin (BTC) transaction service following regulatory approval by Swiss regulators. According to a Nov. 19 announcement, Gazprombank will provide its new cryptocurrency […]

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FATF Needs Entirely New Approach to Regulating Crypto, Says V20 Summit

November 18, 2020

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Nov 18, 2020 at 4:02 p.m. UTCUpdated Nov 18, 2020 at 4:21 p.m. UTC FATF meeting(Hervé Cortinat/OECD) FATF Needs Entirely New Approach to Regulating Crypto, Says V20 Summit The Financial Action Task Force (FATF) needs an entirely new approach when it comes to policing crypto, according to Sian Jones, the driving force behind much of […]

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Crypto firms still not widely adopting ‘travel rule,’ says FATF deputy

November 16, 2020

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David Lewis, executive secretary and G20 deputy at the Financial Action Task Force, says crypto firms still have a long way to go before they’re compliant. 4140 Total views 31 Total shares In 2019, the Financial Action Task Force asked jurisdictions worldwide to adopt its regulatory guidelines for virtual assets. At the V20 conference today, held online, […]

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A minister’s look at what regulators expect from the industry

November 7, 2020

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Regulation is sometimes positioned as the enemy of innovation, an antagonistic force that reduces progress in the name of bureaucracy. However, when implemented sensitively and proportionately, regulation can strengthen a private sector’s reputation by creating the conditions necessary for businesses to focus on and enhance innovation. Getting this right means working with entrepreneurs and providing […]

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