Search
Brazil Central Bank Crafting Crypto Regulation Plan, Expected by Year’s End
21.5.2024
Brazil's central bank unveiled a multi-phase plan to regulate crypto and virtual asset service providers on Monday. It aims to finalize the regulatory proposals by the end of this year.
The post Brazil Central Bank Crafting Crypto Regulation Plan, Expected by Year’s End appeared first...
India Approves Crypto Exchanges Binance and Kucoin as Registered Virtual Asset Service Providers
11.5.2024
Cryptocurrency exchanges Binance and Kucoin have successfully registered with India’s Financial Intelligence Unit as Virtual Asset Service Providers (VASPs), a top official has reportedly confirmed. Both crypto exchanges were previously banned in India due to violations of the country’s...
Taiwan proposes tougher AML measures for crypto service providers
9.5.2024
Taiwan’s Ministry of Justice proposed four amendments to the country’s AML regulations focused on cryptocurrency firms that plan to impose hefty penalties for noncompliance
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
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 Mulls Issuing Crypto Mixing Regulations to Curb Money Laundering
17.1.2024
Financial authorities are preparing to issue cryptocurrency mixing-specific regulations in South Korea to stop criminal groups from using these tools to launder funds obtained illegally. The Korean authorities are discussing whether to allow virtual asset service providers (VASPs) to reject...
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...
VARA’s New Leadership in Dubai Marks Next Phase of Crypto Regulation
21.12.2023
Source: AdobeStock / Grigory Bruev The hands-on approach by Dubai’s Virtual Asset Regulatory Authority (VARA) has enabled it to set a global precedent for regulator-industry cooperation, its executives said. All virtual asset service providers (VASPs) must obtain a license from VARA before...
Ripple registered to Ireland’s Virtual Asset Service Providers
21.12.2023
The Central Bank of Ireland recently added Ripple to its registered VirtualAsset Service Providers list. Now, Ripple will offer certain virtual asset services in Ireland. The news was shared on Ripple’s official website via a post. The post read that the CBI has added its Irish subsidiary...
Central Bank of Brazil Opens Public Consultation on Virtual Assets Service Provider Rulemaking
19.12.2023
The Central Bank of Brazil opened a new public consultation to obtain feedback for regulating the operations of virtual assets service providers (VASPs) in the country. The bank organized a questionnaire of 38 questions divided into different themes that can be partially, or fully answered until...
Gemini Adapts to UK’s Travel Rule, Implements Outward Transfer Restrictions to Comply
9.11.2023
Gemini, a cryptocurrency exchange, has implemented changes in response to new regulations affecting virtual asset service providers (VASPs) in the UK. On November 7, Gemini announced adjustments to align with the new Travel Rule regulations in the UK. These changes involve a set of global standards...
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
UAE central bank to penalize unlicensed virtual asset service providers
8.11.2023
UAE lawyer Irina Heaver explained that the new guidance is part of the UAE’s efforts to be removed from the Financial Action Task Force’s (FATF) “grey list.”
Top 5 South Korean Crypto Exchanges Reveal Compliance Strategies to Curb Illicit Activities
28.7.2023
According to a statement published by the South Korean Financial Services Commission (FSC), the entity’s Korea Financial Intelligence Unit held a meeting with virtual asset service providers (VASPs) in order to strengthen regulatory compliance. The top five South Korean cryptocurrency...
Dubai Regulator Suspends Crypto Exchange BitOasis' Conditional License
11.7.2023
BitOasis said it's working closely with the Virtual Assets Regulatory Authority to fulfil the conditions
Namibia Passes Bill for Licensing and Regulating Virtual Asset Service Providers
7.7.2023
Namibia’s National Assembly has adopted a bill to regulate digital assets, cryptocurrencies, and digital asset service providers in the country.
The Virtual Asset Bill, introduced by the Minister of Finance and Public Enterprises, Ipumbu Shiimi, passed the parliament's lower house in June, aiming...
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...
Crypto Exchange Okx Gets MVP Preparatory License From Dubai Regulator
16.6.2023
Crypto exchange platform Okx Global has been granted the minimal viable product (MVP) preparatory license by the Dubai regulator, the Virtual Assets Regulatory Authority (VARA). The latest VARA license has been granted almost a year after Okx received the “provisional virtual assets...