Search
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...
Russia FATF Rating Downgraded Due to ‘Insufficient Crypto Regulation’
1.3.2024
The Financial Action Task Force (FATF) has downgraded Russia’s compliance rating due to its “insufficient regulation of virtual assets and cryptocurrencies.”
The post Russia FATF Rating Downgraded Due to ‘Insufficient Crypto Regulation’ appeared first on Cryptonews
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...
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...
Turkey Nears Completion of Crypto Framework; Minister Confirms FATF Compliance
10.1.2024
Turkey Crypto Regulation Source: Adobe / Husamex Turkey’s Minister of Treasury and Finance, Mehmet Simsek, announced that Turkey is reportedly in the final stages of preparing a legal regulation for crypto assets. He also shared insights into the imminent cryptocurrency law and compliance...
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...
Gemini’s Travel Rule measures reflect ‘worrying creep’ of overregulation
9.11.2023
Gemini will be restricting its UK users to sending only to 58 virtual asset service providers that are registered under the Travel Rule starting Nov. 17. A Trezor analyst argues the measures will go against the principles of Bitcoin and financial freedom
UK's Travel Rule comes into effect, could halt certain crypto transfers
1.9.2023
The crypto Travel Rule, which came into effect on Sept. 1, aims to stop anti-money laundering and counter-terrorist financing activities carried out on-chain
Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset Ban
20.7.2023
In a circular released by the Capital Markets Authority of Kuwait, the regulator reaffirmed its position that Kuwait strictly prohibits the use of virtual currencies and bans mining activities within the Gulf state. The authority also emphasized the importance for businesses to inform customers...
Crypto travel rule implementation ‘remains relatively poor,’ says FATF
26.6.2023
The United Nations body called on all member states to implement the Travel Rule “without delay” to close “loopholes” not currently protected by regulation
Paris FATF Plenary: Global Implementation of Virtual Asset Standards Remains ‘Relatively Poor’
25.6.2023
The third plenary of the Financial Action Task Force (FATF), held in Paris, found a lack of global adoption of the virtual asset recommendations established by the institution. According to evaluations, almost three-quarters of the jurisdictions are partially compliant or non-compliant with these...
Qatar Didn’t Properly Enforce Its Crypto Ban, Global Money Laundering Watchdog Says
1.6.2023
The central bank should proactively identify and sanction service providers breaching its 2019 prohibition, according to the Financial Action Task Force
South Africa’s Perceived Pro-Russia Stance May Result in Secondary Sanctions Which Threaten Financial Stability — Central Bank
30.5.2023
The South African central bank has said the that perception that the African nation has aligned itself with Russia could result in the imposition of secondary sanctions which threaten financial stability. The bank also warned in its latest financial stability review that such a perception poses...
Over 200 Jurisdictions Agree on Timely Implementation of FATF Crypto Standards
26.2.2023
The Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries have failed to implement its previous requirements...
Countries ignoring crypto AML rules risk placement on FATF's 'grey list' — Report
8.11.2022
Reports suggest the Financial Action Task Force will conduct annual checks to ensure countries are enforcing anti-money laundering rules for crypto providers
Terrorists are funding their horrible deeds with crypto: UN officials
31.10.2022
Cash and hawala remain the “predominant methods of terror financing,” according to a UN official, however, "advanced" terror organizations are turning to cryptocurrencies
After Years of Uncertainty, Cryptocurrency Exchanges Can Open Bank Accounts in Chile
30.10.2022
After years of court battles in Chile, a cryptocurrency exchange has managed to open a bank account in Bci, a financial institution that established a protocol to serve these businesses. The first exchange that opened a bank account with the institution was Buda, a local exchange, which satisfied...
South African Financial Sector Regulator Declares Crypto Assets a Financial Product
20.10.2022
According to a general notice published in a government gazette, crypto assets are now treated as financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial products means crypto asset service providers...
Cross-chain bridge RenBridge laundered $540M in hacking proceeds: Elliptic
11.8.2022
The blockchain forensics firm said cross-chain bridges provide an "unregulated alternative" to exchanges for transferring value between blockchains