Tag: fatf

Sep 25 2022

Use of Crypto in Money Laundering

Sep 25 2022 Published at Coinscreed under tags  crypto crypto guide fatf money laundering

Scammers and hackers in a bid to hide the proceeds of their escapades have turned to money laundering using cryptocurrencies. How crypto is being used for laundering illegal money, and the types of crimes involved are explained in this article. Cryptocurrencies are increasingly becoming the favored currency of cybercriminals, from using them to buy illegal […] The post...

Sep 21 2022

Crypto Travel Rule And How It Operates

The crypto travel rule was formulated by the Financial Action Task Force (FATF) to guide crypto companies and Virtual assets service providers (VASPs). In this article, the concept and how it operates have been discussed extensively. The Financial Action Task Force (FATF) amended its recommendations in 2019 to include virtual assets (VAs) and Virtual assets service […] The post...

Jun 24 2022

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.”The below is a direct excerpt of Marty's Bent Issue #1229: “A new FATF report drops at the end of the month.”...

Apr 25 2022

South Korean Crypto Exchanges Now Support Cross-Platform Withdrawals

Apr 25 2022 Published at Coingape under tags  fatf news south korea

Major South Korean crypto exchanges have added support for seamless withdrawals and deposits between exchanges, reports said on Monday. The move is a positive development for local crypto traders, and comes under new rules adopted South Korea's Financial Action Task Force’s (FATF) travel rule. It could potentially help perk up local crypto trade after the...

Jan 28 2022

Reminder: Reject The Financial Action Task Force

Bitcoin was created to obliterate the type of control that the FATF seeks to enforce.The below is a direct excerpt of Marty's Bent Issue #1111: "Reminder: reject the Financial Action Task Force." Sign up for the newsletter here....

Nov 05 2021

South Korea Will Not Regulate NFTs — FSC

Nov 05 2021 Published at Coingape under tags  fatf fsc regulation news regulations south korea

The Financial Services Commission (FSC) in South Korea has insisted that nonfungible tokens (NFTs) are not classified as virtual assets, and hence will not be regulated. The financial regulator said this in a public statement issued earlier today. South Korea Decides 'No Regulation' For NFTs FSC's decision not to regulate NFTs follows shortly after reviewing The post South Korea Will Not Regulate NFTs...

Oct 28 2021

Breaking: FATF Releases Updated Guidelines on Crypto, Defi and NFTs

Oct 28 2021 Published at Coingape under tags  defi defi news ethaud ethbkrw ethbrl

Financial Action Task Force (FATF), the global anti-money laundering watchdog has released an updated set of guidelines for the crypto market. The final guidelines make improvements and offer more clarity on the draft guidelines released earlier. The guidelines shed special focus on how regulators should treat new markets such as NFT and Defi. "Countries should The post Breaking: FATF Releases Updated Guidelines on...

Jul 06 2021

Hackers Ask for $70M in BTC to Publish Decrypter

July 6, 2021 / Unchained Daily / Laura Shin Daily Bits...

Jun 28 2021

These Three Big Names Are Getting Into NFTs

June 28, 2021 / Unchained Daily / Laura Shin Daily Bits...

Jun 22 2021

FATF: Malta Takes Heat for Crypto Friendly Policies

Jun 22 2021 Published at Blockonomi under tags  fatf malta regulation

According to a recent report by the Financial Action Task Force (FATF), a regional regulatory body, the Maltese government has allowed the crypto industry to adopt a lax attitude toward regulations. The FATF alleges that more than $70 billion in crypto transactions have moved through Malta, and some of these transactions may not have been [...] The post FATF: Malta Takes Heat for...

May 28 2021

Rep. Tom Emmer, One of the Most Active Crypto Congress Members, on Taxes and DeFi

May 28 2021 Published at Unchained Podcast under tags  2021 blockchain crypto defi fatf

House Representative Tom Emmer, of Minnesota, is one of the most active voice for crypto and blockchain in the US government. In this episode, he discusses: what book made Tom fall down the crypto rabbit hole why Tom believes the Financial...

May 03 2021

Crypto.com Becomes First Firm to Incorporate CipherTrace Tool To Comply With New FATF Travel Rule

May 03 2021 Published at Coingape under tags  ciphertrace crypto.com fatf news regulation law

crypto.com, a Hong Kong-based cryptocurrency payment platfrom with over a 3 million user base has become the first firm to use...

Apr 02 2021

The FATF Is Loading The Gun

Continuously expanding surveillance on financial transactions has no place in Bitcoin.On paper, the Financial Action Task Force (FATF) was created more than 30 years ago by G7 countries to fight organized criminal and narcotic financial flows. The intergovernmental organization describes itself as a “dynamic contributor to peace and security” and issues...

Why Proposed FATF Rules Could Be a Shock for DeFi

Dave Jevans, CEO of Cipher Trace, talks about what the new draft guidance from the FATF (Financial Action Task Force) means for DeFi, NFTs, and crypto in general. In this show, he breaks down: the six main areas the draft guidance covers, including the expansion of KYC regulatory standards into DeFi (1:07)...

Michael Jordan’s NFT Investment

Apr 02 2021 Published at Unchained Podcast under tags  bitcoin blackrock blockchain btc crypto

PLUS: Goldman Sachs to offer clients bitcoin! With Bitcoin hovering just below $60k and Ethereum sitting just under $2k, it looks like April could be another bullish month in the crypto industry. In lieu of a typical introduction summarizing the week’s news, I am going to embed a tweet from the @Unchained_pod, the new Twitter handle for all Unchained content. Click the link...

Mar 26 2021

Tesla Is a HODLer

PLUS: What you need to know about $COIN The SEC received a bitcoin ETF application from Fidelity this week, marking the sixth such filing within the U.S. For a brief second, it also seemed Goldman Sachs filed too, but, as it was later clarified, Goldman only...

Mar 25 2021

Breaking: Binance Hires Two Former FATF Executives as Regulatory and Compliance Advisor

Binance, the world's leading cryptocurrency exchange by trading volume has hired two former FATF executives as its regulatory and compliance advisors. The new appointees include former FATF Executive Secretary Rick McDonell and...

Mar 22 2021

FATF Recommends Heightened Restrictions On Virtual Assets And Service Providers

Mar 22 2021 Published at Bitcoin Magazine under tags  aml business fatf kyc regulation

In its updated guidance on virtual assets and virtual asset service providers, the FATF recommends requiring more strict KYC/AML measures.The Financial Action Task Force (FATF) has updated its “Guidance for a risk-based approach to virtual assets...

Feb 18 2021

‘Evil VASP’ Simulation Preps Crypto Exchanges for FATF Travel Rule

Backed by CipherTrace, TRISA looks to get virtual asset service providers (VASPs) ready for new anti-money laundering rules.

Feb 09 2021

BitMEX Introduces Data Storage Framework for FATF’s Travel Rule

Compliance chief Malcolm Wright led the development of BitMEX’s data storage principles for crypto exchanges.

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