The organization reported that only 9% of countries were “substantially effective” in areas including having banks and VASPs verify users’ information.
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.
Blockchain forensics is the trusted informant in crypto crime scene investigation
As mainstream adoption of crypto increases, blockchain forensics is enabling law enforcement to recover stolen crypto, making the space more secure.
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.
South Korean crypto exchanges to follow Coinone in verifying private wallets
South Korean exchanges will require users to verify their third-party wallet addresses to help the country comply with FATF travel rule guidelines.
Cyprus’ finance ministry recommends ‘capacity building’ for crypto
Cyprus’s finance ministry stressed the need to accelerate its capacity building for the crypto industry.
FATF guidance on virtual assets: NFTs win, DeFi loses, rest remains unchanged
The Financial Action Task Force has laid out its perspective on crypto, including its views of nonfungible tokens and decentralized finance.
FATF includes DeFi in guidance for crypto service providers
Despite DeFi apps not being a VASP under the FATF standards, the authority still wants to apply VASP rules to them.
Crypto exchange Bitfinex testing new AML compliance tool
Launched in production in 2020, Notabene’s Travel Rule solution now processes transactions among 50 crypto exchanges.
Tether trials Notabene’s new travel rule technology to combat financial crimes
The “Travel Rule” aims to bring reporting standards for virtual asset service providers in line with other traditional financial institutions.
Ukraine passes legislation to recognize and regulate crypto
Ukraine is hoping its new digital asset regulations will attract foreign crypto exchanges to set up shop in the Eastern European nation.
Cardano Foundation partners with Coinfirm for FATF and 6AMLD compliance
Coinfirm said it would be able to provide the same AML/CFT analytics for assets minted on Cardano, a number which may grow as the project prepares to expand to smart contracts.
Senate infrastructure bill isn’t perfect, but could the intention be right?
The provisions of the U.S. infrastructure bill stirred up a heated debate, but many of the fears voiced by its critics are misguided.
DeFi cannot be fully regulated, Siam Commercial Bank president says
Dr. Arak Sutivong, CEO of SCB 10X, believes DeFi requires a framework for long-term and sustainable interactions with traditional finance.
UN commission serves new warning against BTC adoption in El Salvador
ECLAC executive secretary stressed that there is no study yet that would have investigated potential risks or benefits of El Salvador accepting BTC as legal tender.
Binance tackles Travel Rule compliance after multiple bans
Following bans in Japan, the U.K. and Ontario, Binance is ramping up its compliance efforts with a specialized tool developed by crypto intelligence firm CipherTrace.
$71B in crypto has reportedly passed through ‘blockchain island’ Malta since 2017
The Financial Action Task Force, a membership body of 37 jurisdictions and two regional organizations, has flagged Malta’s initial push to attract cryptocurrency business as “problematic.”
Crypto.com will provide liquidity to Finxflo in new partnership
“We want to eliminate the hurdles associated with crypto trading, and streamline the experience for new retail investors,” said Finxflo CEO James Gillingham.
How banks can identify money laundering involving crypto, explained
What are the tools that banks and financial institutions need to identify money laundering involving crypto? This explained guide reveals all.
Crypto lobby groups are gaining traction in Washington as the threat of regulatory bottleneck looms
The blockchain industry is looking to shed the negative association between digital assets and crime as the threat of additional regulatory oversight looms.