Turkish crypto bill: 5 things to know before its introduced

Turkey was expected to introduce crypto legislation in early 2024, but the local parliament is yet to report on the process.

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AML rules for digital assets to come into effect in UAE

Under the new rules from the Central Bank of the UAE (CBUAE), the licensed financial institutions (LFIs) would be required to identify and verify the identities of all customers. The update will come into effect “within a month,” that is, by the end of June.  On May 31, CBUAE published a guidance for LFIs on [...]

The post AML rules for digital assets to come into effect in UAE appeared first on Crypto Breaking News.

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BitFlyer adopts crypto deposit limits to comply with Travel Rule

While adopting restrictions on transactions between exchanges, bitFlyer still supports transactions to and from self-custody wallets like MetaMask.

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Philippines Exits FATF Grey List: SEC Unveils Plans to Strengthen AML Compliance

The Philippines has officially exited the FATF grey list. Learn how the SEC plans to strengthen anti-money laundering (AML) compliance through Project HARBOR, expanded NPO outreach, and new crypto regulations.

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Russias FATF Rating Downgraded Over Crypto Regulation Shortfalls

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 transactions within the rapidly expanding realm of digital finance. Russia’s Financial Strategy Challenged by FATF Downgrade The [...]

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Japan to Apply Tougher Crypto AML Regulations, ‘Travel Rule’ in June

Stricter anti-money laundering (AML) measures for the crypto sector in Japan will enter into force next month, local media reported. The new rules were adopted to align the country’s legal framework for cryptocurrencies with global standards in the field. Japan to Enforce Legislation Allowing the Tracing of Crypto Transactions The Cabinet of Japan, the executive

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Japan’s crypto Anti-Money Laundering measures to start in June: Report

The Japanese parliament has decided to roll out tougher AML procedures in line with the “travel rule.”

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South African Rand Plunges to New 2023 Low Versus the US Dollar

Just a few weeks after tapping its best exchange rate versus the greenback in 2023, the South African rand fell to a new 2023 low of 18.636 local currency units for every dollar on March 7. South Africa’s power shortages as well as the country’s recent grey-listing by the Financial Action Task Force (FATF) are [...]

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FATF Releases Action Plan to Improve Implementation of Global Standards on Crypto

Over 200 governments agreed to tighten the "application of FATF Standards on virtual assets and virtual asset service providers". (Read More)

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FATF Urges Greater Adoption of Travel Rule to Curb Illicit Crypto Fund Flows

FATF has called for greater adoption of Digital Asset Service Provider Travel Rule to curb illicit fund flows using cryptocurrencies. The Travel Rule was amended in 2019 to require Digital Asset Service Providers to collect and share data about the source and destination of digital asset transfers over $1,000. Russia’s membership has been suspended, and […]

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Argentina to Revamp Anti Money Laundering Law, Proposes Creation of VASP Registry

Argentina is preparing to revamp its anti-money laundering and terrorism financing law. It has proposed to include the creation of a registry for virtual asset services providers (VASPs) in the country as part of the new modifications. The changes would prepare the country for the review that the Financial Action Task Force (FATF) is slated

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AML Watchdog to Countries: Enforce FATF Crypto Travel Rule

The FATF wants its member countries to enforce AML and terrorist financing rules (TFC) on crypto providers.

The post AML Watchdog to Countries: Enforce FATF Crypto Travel Rule appeared first on BitPinas.

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Crypto Flipsider News – Bitcoin under $20k; FTT Loses 16%; ByBit Alameda Proposal; DOJ Seize $3.36B BTC; FATF Crypto Gray List

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Continue reading Crypto Flipsider News – Bitcoin under $20k; FTT Loses 16%; ByBit Alameda Proposal; DOJ Seize $3.36B BTC; FATF Crypto Gray List at DailyCoin.com.

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[Newsletter] CryptoPH Wrap-up – BSP Wants More Crypto Surveillance?

Are the recent "dismissiveness" about crypto by our regulators is really because the Philippines is still in the FATF Gray list?

The post [Newsletter] CryptoPH Wrap-up – BSP Wants More Crypto Surveillance? appeared first on BitPinas.

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What Does The Financial Action Task Force Have In Store For Bitcoin?

The FATF released meeting notes hinting at an upcoming report on recommendations for business compliance with the Travel Rule and “unhosted wallets.”

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Solving the ‘Sunrise Issue’ is the key to unlocking crypto mass adoption

Regulation will touch every person in every jurisdiction worldwide; crypto must find ways to preserve its decentralization and privacy.

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Half of assessed jurisdictions don't have 'adequate laws and regulatory structures' — FATF

The organization reported that only 9% of countries were “substantially effective” in areas including transparency in beneficial ownership.

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Korean crypto exchanges are now in compliance with the Travel Rule

Complying with the rules puts South Korea ahead of the curve for regulating virtual assets, but may be harming the domestic industry with overbearing transfer restrictions between exchanges.

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Bybit Earns Membership With VerifyVASP, Expands Cross Border Reach

Bybit announces becoming a member of the VerifyVASP alliance. Bybit brings cryptocurrencies transactions on its platform. Bybit’s participation will help ...

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US-based crypto firms join forces for Travel Rule compliance

“We ... adding new members so that TRUST can provide comprehensive compliance across the crypto industry,” said the joint announcement.

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