Search
Attempts to Unify Cryptocurrency Regulation and Introduction of the travel rule
...formation between anti-money laundering supervisors; - broaden the requirements for identifying high-risk third countries and ensure a high level of protection for money moving to or from such countries. One of the most notable directives is the travel rule which requires “virtual asset service providers” (VASPs) — including crypto exchanges and custodial wallet providers — to disclose...
Path: BlogCompliance deadline of January 2020: Crypto exchanges implement FATF anti-money laundering standards
...idelines issued by the Financial Action Task Force (FATF). Digital asset service providers are required to come up with the solution before January 2020. Earlier this year, the FATF announced a Recommendation 16 which introduced the so-called “travel rule” requiring verification and record keeping of the crypto exchanges customer’s identities and passing the identity information together...
Path: BlogSouth Africa’s Introduction to Crypto Regulation
... not be recognized as electronic money. It’s been noticed that South Africa research and adopt international cryptocurrency standards. New policy will enforce the Financial Action Task Force’s (FATF) new technologies anti-money-laundering and travel rule recommendations, two international fundaments for policing crypto businesses. The paper describes FATF as a perfect example of an internat...
Path: BlogJapanese Financial Services Agency is discussing to impose stricter Crypto Laws
...o exchange, Liquid was hacked recently when hackers stole around $80 million in cryptocurrency. The FSA has developed rules around the storage of client assets by the exchanges and is now bending towards adopting the Financial Action Task Force’s travel rule by 2022 that will mandate all crypto platforms to gather transaction data, ending anonymity in crypto. This is not the first time this ...
Path: Blog