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Upbit Halts Transactions Over 1 Million KRW Following Changes to VASP – Here’s the Latest
17.4.2024
Upbit has announced the suspension of processing deposits and withdrawals exceeding 1 million Korean won due to the recent suspension of Ten&Ten's Travel Rule Solution service.
The post Upbit Halts Transactions Over 1 Million KRW Following Changes to VASP – Here’s the Latest appeared...
Fewer Than 30% of Jurisdictions Globally Have Started Regulating Crypto: FATF Chief
28.3.2024
Globally, less than 30% of jurisdictions have started regulating the crypto sector as of June 2023, the Financial Action Task Force (FATF) President T. Raja Kumar told CoinDesk in an interview from Singapore
Russia’s FATF Rating Downgraded Over Crypto Regulation Shortfalls
1.3.2024
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...
FATF Grey Listing Concern Prompts Kenya to Establish a Crypto Working Group
23.2.2024
The fears that Kenya’s lack of a regulatory framework for overseeing the crypto industry has prompted the government to establish a working group tasked with drafting crypto regulations. Authorities in the East African nation are confident that the approved regulations will designate a sole...
Argentina to Regulate Cryptocurrency Exchanges With Executive Order
23.2.2024
The government of Argentina is reportedly preparing to regulate cryptocurrency service providers with an executive order. The measure would be directed to keep Argentina out of the Financial Action Task Force (FATF) gray list, putting crypto service lenders under the oversight of the local...
South Korea to Expel Crypto Exchanges Failing to Meet Its Stringent Conditions
15.2.2024
Cryptocurrency exchanges that fail to meet South Korea’s stringent operating standards will be expelled from the crypto market, the country’s financial intelligence agency has said. The Financial Intelligence Unit said its annual work plan incorporates the insights of cryptocurrency...
Cryptocurrency Regulations Set to Help Minimize Risks Associated With Crypto Trading — Turkey Finance Minister
12.1.2024
Mehmet Simsek, the Turkish Finance Minister, recently revealed that a draft of his country’s crypto regulations is now in the final stage. Simsek said that once they come into force, the new regulations will help minimize the risks that are associated with trading crypto assets. Minimum...
Prohibition of Cash Withdrawals From VASPs Operated Accounts May Contradict Central Bank’s Cashless Policy — Nigerian Lawyer
7.1.2024
Nigerian fintech lawyer Senator Ihenyen said the new central bank guidelines which bar the withdrawal of cash from accounts operated by virtual asset service providers (VASPs) seem “reasonable and understandable.” The lawyer however believes an “outright” prohibition of cash...
Nigerian Central Bank Lifts February 2021 Crypto Prohibition Order
23.12.2023
The Nigerian central bank has reversed its Feb. 5 order which barred banks and financial institutions from extending their services to crypto entities. The central bank said new guidelines align with the Financial Action Task Force’s updated recommendation 15, which calls for the regulation...
Crypto Regulation News Weekly Digest: SEC Sues Kraken and IOSCO Issues Crucial Crypto Regulations
21.11.2023
  Multiple countries advanced cryptocurrency oversight last week through legal actions, guidance, and policy initiatives. Image by RareStock, Adobe Stock. The past week brought several new major developments on the crypto regulation front. The SEC sued a major crypto exchange, IOSCO developed...
Turkey’s New Crypto Asset Regulations Expected in 2024 – Focus on Taxation and Licensing
16.11.2023
Source: Pixabay Turkey officials confirmed that the nation is considering debuting a new crypto market regulation, effective 2024. The regulation will emphasize addressing crypto licensing and taxation, per a Reuters report. Turkey is seeking to address concerns raised by the Financial Action Task...
Turkey Aims to Leave FATF Grey List with Proposed Crypto Asset Legislation
1.11.2023
Turkey is taking steps to toughen its crypto regulations in an effort to convince the Financial Action Task Force (FATF), an international financial crime watchdog, to remove it from the “grey list” of countries that have not done enough to combat money laundering and terrorist...
Turkey in "Final Stage" of Bringing Crypto Legislation as Last Step to Get off FATF's Grey List: Minister
1.11.2023
Turkey is in the "final stage" of bringing crypto legislation to its parliament, a last step required for it to be removed from the Financial Action Task Force's (FATF) "grey list
Report: Cyprus Mulls Imposing Hefty Fines on Unregistered Crypto Service Providers
12.10.2023
Crypto firms that operate in Cyprus without registration may soon be fined as much as $350,000 while individuals behind such firms could face up to five years in jail. The Finance Ministry says its proposals, which are included in a draft recently submitted to parliament, seek to align...
Today in Crypto: Fines and Prison for Unregistered Crypto Firms in Cyprus, OrdinalsBot Raise $1 Million, Zimbabwe Gold is Now a Payment Method
10.10.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Fines and Prison for Unregistered Crypto Firms in Cyprus, OrdinalsBot Raise $1 Million, Zimbabwe Gold...
Cyprus to tighten crypto regulations in accordance with FATF
10.10.2023
The Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering Law
Travel Rule Enforcement Begins for Crypto Firms in the UK – Here's What You Need to Know
4.9.2023
Virtual Asset Service Providers (VASPs) in the UK are from September 1 required to collect, verify and share information on crypto transactions to firms “in the UK, or any jurisdiction that has implemented the Travel Rule.”...
Read More: Travel Rule Enforcement Begins for Crypto Firms in the UK...
Ramping up Blockchain Education Can Help Make South Korea the World’s Crypto Leader, Says Hashed CPO Edward Hong
31.8.2023
According to Edward Hong, the chief platform officer (CPO) at the early-stage venture firm Hashed, South Korea’s decision to delay putting in place a comprehensive crypto regulatory framework seems to be more of a strategic move rather than hesitation. Hong insisted that the perceived delay...
South African Crypto Premium Surge After Kraken Abruptly Starts Blocking Deposits by Local Residents
31.8.2023
The premium on crypto assets listed on South African exchanges briefly surged to 3.5% after Kraken’s abruptly started blocking deposits from users based in the African country. Some South African crypto experts have linked Kraken’s decision to the Financial Action Task Force’s...
UK’s Travel Rule Troubles Showcase Global Challenge for Crypto
24.8.2023
Crypto firms in the U.K. have just days to comply with new money laundering guidelines – but they are seeking more guidance given patchy implementation of the rule between jurisdictions