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Crypto Analytics Firm Elliptic to Tell US Congress Privacy Coins Need Stricter AML Rules

15.1.2020
Elliptic head of policy Liat Shetret will recommend that the U.S. push for greater enforcement of anti-money laundering regulation of crypto exchanges, including for traders using privacy coins, in a Congressional hearing on human trafficking

With New Regulations, Europe’s Crypto Companies May Be Running Out of Options

13.1.2020
European crypto companies are finding themselves in a changing regulatory environment. The new realities they have to deal with stem from the fifth edition of the European Union’s anti-money laundering directive. AMLD5 introduces stricter customer due diligence requirements and some in...

China Saw $11.4 Billion in Crypto-Based Capital Flight Last Year

13.1.2020
On January 8, China-based blockchain security firm Peckshield published its “2019 Global Digital Asset AML Research Report” noting a variety of crypto trends throughout the year. According to the study, cryptocurrency-based capital flight stemming from China was around $11.4 billion...

EU Countries Commence Crypto Regulations as Mandated by New Directive

11.1.2020
The European Union’s 5th Anti-Money Laundering Directive mandates that member states start regulating crypto assets by Jan. 10. Crypto exchanges and custodial wallet providers are now covered by the same regulatory requirements as banks and other financial institutions. Also read: Regs...

What The 5th Anti-Money Laundering Directive Means For Crypto Businesses

10.1.2020
As 5AMLD comes into effect, cryptocurrency service providers are on the hook for new regulations

UK Financial Watchdog FCA Now Supervises AML/CTF Compliance of Crypto Businesses

10.1.2020
FCA is now responsible for the monitoring AML and CTF compliance of crypto-related companies

Kraken Reveals 49% Increase in Law Enforcement Investigations

8.1.2020
The publication of crypto exchange Kraken’s 2019 Transparency Report has provoked discussion about the scale of government surveillance. According to the report, Kraken received 710 requests last year (or two per day), impacting approximately 1,222 accounts. The report provides further...

Privacy Coins in 2019: True Financial Freedom or a Criminal's Delight?

2.1.2020
Privacy coins have earned a certain stigma due to the anonymity they provide, but what were these cryptocurrencies truly used for in 2019?

Did 2019 Deliver on All That Was Promised for the Crypto Industry?

30.12.2019
“The lack of a groundbreaking project that would have opened the eyes of skeptics is most disappointing.” Experts weigh up unfulfilled promises of 2019

As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted

27.12.2019
Since the inception of Bitcoin, governments have tried to keep track of all the transactions taking place on the public blockchain. As the years progressed, authorities have shown a distaste for cryptocurrency mixing applications like Coinjoin. On Dec. 19, a Binance customer couldn’t withdraw...

Germans Rush to Buy Gold as Draft Bill Threatens to Restrict Purchases

27.12.2019
Reports have emerged depicting long lines in front of a physical gold sales location in Germany, in view of pending legislation which would once again lower the anonymous purchase limit, this time from €10,000 to €2,000. The last drop happened in 2017 when the limit was set...

A Bitcoin War Is Brewing Over KYC

25.12.2019
Every year, Bitcoin faces a new foe intent on crippling it by undermining the foundations it was built upon. From mining cartels to developer disputes, Bitcoin has faced a barrage of threats over the past decade. When it’s not internecine conflict taking its toll, it’s external forces...

Utorg Exchange Grants Access to Traders With Limited Verification

24.12.2019
Utorg.io is a digital asset exchange based in the U.K. that allows users in Europe and around the world to trade cryptocurrencies with stablecoins and fiat money. What sets the new platform apart from many incumbents is the simplified verification procedure for traders who don’t exceed...

Poloniex Restores Unverified Accounts With Unlimited Trading

22.12.2019
In times of mounting pressure on crypto companies to comply with expanding due diligence requirements, Poloniex has taken a step in the opposite direction. The exchange is lifting restrictions that applied to unverified users in response to customer demand. New and current accounts will enjoy...

Australia Probes Big Four Bank Accused of 23 Million Money Laundering Breaches

18.12.2019
With stricter new regulations on the horizon for the crypto space around the world, Australians have found that it’s actually their traditional financial institutions that have been breaching well-established anti-money laundering rules and other industry standards this year. Westpac, one...

Crypto Regulation Is Coming To Europe: Are Exchanges Ready for New Rules?

18.12.2019
European crypto companies have a countdown clock on regulations kicking in on Jan. 10 next year. So how are they preparing?

Ciphertrace Says Banks Unknowingly Process $2 Billion in Crypto per Year

17.12.2019
According to the blockchain analysis firm Ciphertrace, major U.S. banks process roughly $2 billion in digital currency transactions that go undetected every year. Ciphertrace disclosed a slew of financial institutions have not deployed the right KYC/AML infrastructure to detect unregistered...