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Paypal Pauses UK Crypto Purchases Amid Regulatory Changes; Assures Resumption in Early 2024
16.8.2023
In recent communications to its U.K. clientele, Paypal has announced a temporary suspension of cryptocurrency purchases starting October 1, 2023, with plans to resume in early 2024. Notably, even amidst this hiatus, users can continue to hold their crypto within the Paypal ecosystem and are free...
Binance Japan to Use KYC Services From Liquid
13.8.2023
The world’s leading cryptocurrency exchange, Binance, has selected Liquid as an identity verification partner for its Japanese platform. The services of the Tokyo-headquartered biometrics firm will allow Binance Japan to ensure its know-your-customer (KYC) procedures comply with Japan’s strict...
Spot Bitcoin ETF Applications Face More Delays
11.8.2023
The U.S. Securities and Exchange Commission (SEC) on Friday asked for additional public feedback on a proposal to list a spot bitcoin exchange-traded fund (ETF), likely delaying any decision on the high-profile applications. SEC Seeks Public Opinion on Spot Bitcoin ETF The SEC put out a 34-page...
Binance applies for Taiwan AML compliance: Report
11.8.2023
The world's leading crypto exchange by trading volume has reportedly applied to register in Taiwan under the new AML compliance
Binance applies for Taiwan AML compliance: Report
11.8.2023
The world’s leading crypto exchange by trading volume has reportedly applied to register in Taiwan under the new AML compliance
SEC’s Crypto Compliance by Enforcement Push Continues as Bittrex Hit With $24 Million Fine
10.8.2023
The US Securities and Exchange Commission (SEC)’s push to force the crypto industry into “regulatory compliance” via enforcement action continues, with bankrupt crypto exchange Bittrex the latest to fall foul of the agency.
Bittrex just agreed to pay a $24 million fine to the SEC, after the agency...
CEO of World's Largest Bitcoin ATM Operator Sees Industry Ripe for Consolidation
10.8.2023
Brandon Mintz, CEO and founder of Bitcoin Depot, the world’s largest bitcoin ATM company, says his company, which currently has about 20% market share, is in a position to gobble up competitors
Bitstamp Delists AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for US Customers
9.8.2023
Trading will soon be halted for several popular cryptocurrencies on the Bitstamp exchange for users in the United States. Starting August 29, 2023, the exchange will suspend trading for AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for U.S. customers, canceling all existing orders for those assets....
House Financial Services Committee Advances Clarity for Payment Stablecoins Act
9.8.2023
On July 27, 2023, The U.S. House Financial Services Committee advanced a stablecoin-focused bill for the first time. The Clarity for Payment Stablecoins Act of 2023 would establish a federal regulatory framework for stablecoins with the U.S. Federal Reserve playing a pivotal role. The bill would...
A Comprehensive Look at the New Paypal Stablecoin, Its Control Dynamics, and ‘Freeze’ Option Trending on Social Media
8.8.2023
At the time of writing, the official Paypal stablecoin PYUSD smart contract has been unveiled, and as it stands, the maximum aggregate supply amounts to 26,905,005.66 PYUSD. In spite of the existence of more than 26 million Paypal stablecoins, the contract continues to retain a substantial 92.91%...
Identity Verification in Crypto: Addressing the Clash Between Blockchain Anonymity and KYC Compliance
8.8.2023
Financial privacy and anonymity online have been among the key principles of blockchains since Satoshi Nakamoto first unveiled the Bitcoin white paper, but recent actions from regulators have put this principle under pressure.
To better understand regulatory actions, listening to what regulators...
India House passes bill to ease BigTech data compliance
7.8.2023
The lower house in the parliament of India approved updates to a bill that would ease data storage, processing and transfer standards for BigTech companies
Binance Appoints New Deputy Chief Compliance Officer and Global Money Laundering Reporting Officer
4.8.2023
On Thursday, Binance announced Kristen Hecht as the new Deputy Chief Compliance Officer (CCO) and Global Money Laundering Reporting Officer (GMLRO), a new role amid potential fraud charges from U.S. regulators.
Amid ongoing investigations into its practices, Binance has witnessed the departure...
Binance Appoints New Compliance Officer as Regulatory Crackdown Intensifies
3.8.2023
The new position for Kristen Hecht comes as Binance is under scrutiny by multiple law enforcement agencies in the U.S. and abroad and could even face fraud charges
Kenyan Data Regulator Issues Warning as Residents Rush to Get Worldcoin’s ‘Free Money’
30.7.2023
The Kenyan data regulator said it is conducting an “assessment of Worldcoin’s practices to ensure compliance with the law.” The data regulator has urged “increased vigilance” by Kenyans who are signing up to receive Worldcoin’s “free money.”...
Crypto․com Granted Registration Approval in the Netherlands
30.7.2023
Digital asset exchange Crypto․com has been approved for registration as a crypto service provider in the Netherlands. The regulatory nod comes after a review of its business operations and compliance with the Dutch anti-money laundering legislation, the company pointed out. Trading Platform...
South Korea's Financial Intelligence Unit Presses Crypto Platforms to Improve Compliance Measures
28.7.2023
The Korea Financial Intelligence Unit (KoFIU) in a meeting on Thursday told the Korean crypto industry to double down on their efforts to prevent illegal activities.
At the meeting, KoFIU Commissioner Rhee Yunsu said that a “strategic analysis team” focused on crypto has been set up, and that...
The ACI is excited to announce the 2nd Annual Forum on Digital Assets Compliance
28.7.2023
With intensified scrutiny from key regulators, including OFAC, FinCen, DFS, DOJ, SEC, and CFTC, the importance of industry-wide cooperation is key. In response to these recent changes, ACI is proud to announce the 2nd Annual Forum on Digital Assets Compliance: AML, Sanctions and Regulatory...
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...
Nexo joins sanctions association as regulatory scrutiny increases
27.7.2023
Nexo looks to keep pace with regulatory requirements by implementing new certification requirements for its compliance team