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Crypto firms among ‘greatest risks’ for money laundering in 2022-2023: UK govt
2.5.2024
Crypto firms, wealth management companies, and retail and wholesale banking remain “particularly vulnerable” to financial crime, according to a U.K. Treasury report
Senator Elizabeth Warren Slams Push For Stablecoin Bill, Cites National Security Risks
10.4.2024
Senator Elizabeth Warren is criticizing the push for a stablecoin bill without anti-money laundering laws in place due to national security concerns, a letter sent on Monday to House Financial Service Committee Chairman Patrick McHenry (R-NC) and Ranking Member Maxine Waters (D-CA) reveals. Warren...
Queensland’s CCC Aims to Modernize Confiscation Laws to Facilitate “Effective” Seizure of Crypto Assets
10.4.2024
Queensland's Crime and Corruption Commission (CCC) has identified gaps in state laws that inadvertently encourage criminal use of digital assets.
The post Queensland’s CCC Aims to Modernize Confiscation Laws to Facilitate “Effective” Seizure of Crypto Assets appeared first...
KuCoin Sees Over $1 Billion Outflows After Money Laundering Charges in US
27.3.2024
Crypto exchange KuCoin saw over $1 billion in outflows in the last 24 hours after the US prosecutors announced charges against the exchange and two of its founders, Chun Gan and Ke Tang, for violating anti-money laundering laws.
The post KuCoin Sees Over $1 Billion Outflows After Money Laundering...
Crypto Exchange KuCoin Violated Anti-Money Laundering Laws, U.S. Charges
26.3.2024
U.S. federal prosecutors charged crypto exchange KuCoin and two of its founders with violating anti-money laundering laws on Tuesday, saying the exchange operated in the U.S., lied to at least one of its investors about operating in the U.S. and failed to both register with U.S. government entities...
EU Anti-Money Laundering Laws Ban Provision of Services for Anonymous Cryptocurrency Accounts
24.3.2024
A new set of anti-money laundering laws passed by the EU has banned crypto asset service providers from servicing and providing custody to anonymous cryptocurrency accounts. The approved proposal for the “prevention of the use of the financial system for the purposes of money laundering...
Worldcoin Maintains Legal Operations Worldwide, Despite Spain Ban
19.3.2024
Worldcoin, founded by OpenAI CEO Sam Altman, said it is “lawfully in all of the locations in which it is available” and designed to fully comply with related laws.
The post Worldcoin Maintains Legal Operations Worldwide, Despite Spain Ban appeared first on Cryptonews
Spanish Court Upholds Privacy Watchdog’s Decision to Halt Worldcoin Activities
19.3.2024
The Audiencia Nacional (National Hearing), a Spanish special tribunal, has maintained the measures that the AEPD, the private data watchdog in the country, has taken against Worldcoin. The court determined that the defense of the general interest of protecting the people’s data must prevail...
Argentine Senate Passes Reform Creating Cryptocurrency Entities Registry
19.3.2024
The Argentine Senate passed a law that creates a registry for any institution that offers cryptocurrency services in the country. The CNV, the Argentine securities enforcer, will manage this registry, which also establishes obligations for crypto companies to deliver personal information on their...
Dubai International Financial Centre Enacts Digital Assets Law
18.3.2024
The Dubai International Financial Centre (DIFC), one of the largest free zones of the Middle East, Africa, and South Asia (MEASA) region, has enacted a new Digital Assets Law, revamping its whole legislative system to include these tools. The law changes previous contracts, insolvency, damages...
Russia Regulates Use of Digital Assets for International Settlements
15.3.2024
Russia has integrated the use of digital assets as payment for international transactions in its legislation. President Vladimir Putin signed into law a document that describes using these assets as payment for international settlements, a use case not contemplated in any law, appointing...
Current Copyright Laws Sufficient for NFTs, No Need for New Legislation: US Govt Study
13.3.2024
A recent US government study found that existing intellectual property laws are sufficient to handle infringement related to NFTs. Consequently, there is no requirement for new legislation to tackle this issue, it says.
The post Current Copyright Laws Sufficient for NFTs, No Need for...
South Korea Preparing Tax System to Avoid Cryptocurrency Tax Evasion
13.3.2024
The National Tax Service in South Korea is preparing to launch a virtual asset tax system to help analyze the information received from cryptocurrency holders to avoid cryptocurrency tax evasion. Local sources reported that the agency had contracted the services of a third-party company to help...
U.S. Govt. Study Concludes No NFT-Specific Legislation Needed Yet, Current Copyright Laws Adequate
13.3.2024
The current intellectual property laws are adequate to deal with concerns about copyright and trademark infringement associated with non-fungible tokens (NFTs)
EU Parliament Approves New Sanctions Laws That Also Apply to Crypto
12.3.2024
The laws are to ensure sanctions rules are applied uniformly across the EU's 27 member states
Wyoming Grants DAOs New Legal Structure
8.3.2024
Wyoming has established a new legal framework for in-state decentralized autonomous organization (DAO) nonprofits that has crypto investment giant Andreessen Horowitz (a16z) calling the state an "oasis."
Montana Blasts SEC ‘Regulatory Power Grab’ in Kraken’s Case: ‘Crypto Assets Are Not Automatically Securities’
4.3.2024
Montana introduced an amicus curiae in the case of the SEC vs. Kraken, a US-based crypto exchange, criticizing the “regulatory power grab” of the institution. Montana, supported by seven other states, affirms that crypto assets are not automatically securities and that the SEC’s...
House Financial Services Committee Advances Bill to Repeal SEC Bulletin Preventing Banks From Offering Crypto Custody Services
2.3.2024
The House Financial Services Committee of the U.S. Congress has advanced a resolution that seeks to disavow SEC SAB 121, a bulletin that leaves banks and financial institutions out of the cryptocurrency custody provider market. However, the resolution, advanced with bipartisan support, is unlikely...
Kraken Starts Requiring Info on Self-Custody Crypto Wallet Ownership in the UK
16.2.2024
Kraken, a U.S.-based cryptocurrency exchange, has started requiring additional information in the U.K. regarding transactions of self-custody wallets made to and from its accounts. Kraken sent an email to some of its U.K. customers, stating that if the information required was not provided,...
Isle of Man Seeks Public Input in Effort To Tighten Crypto Assets Regulation
13.2.2024
The Isle of Man has rolled out a public consultation on possible crypto assets regulation to protect investors in the jurisdiction. In a Feb 13 release, financial authorities in the self-governing British Crown dependency sought models to expand its laws on crypto assets in line with global...