Globally, less than 30% of jurisdictions have started regulating the crypto sector as of June 2023, the Financial Action Task Force (FATF) President T. Raja Kumar told CoinDesk in an interview from Singapore.
Gemini’s Travel Rule measures reflect ‘worrying creep’ of overregulation
Gemini will be restricting its UK users to sending only to 58 virtual asset service providers that are registered under the Travel Rule starting Nov. 17. A Trezor analyst argues the measures will go against the principles of Bitcoin and financial freedom.
UK’s Travel Rule comes into effect, could halt certain crypto transfers
The crypto Travel Rule, which came into effect on Sept. 1, aims to stop anti-money laundering and counter-terrorist financing activities carried out on-chain.
UK’s Travel Rule Troubles Showcase Global Challenge for Crypto
Crypto firms in the U.K. have just days to comply with new money laundering guidelines – but they are seeking more guidance given patchy implementation of the rule between jurisdictions.
UK ‘Travel Rule’ Won’t Completely Nix Transfers to Noncompliant Places, FCA Says
Companies such as PayPal are already halting their crypto payments services in the country as a result of tighter regulations.
Crypto travel rule implementation ‘remains relatively poor,’ says FATF
The United Nations body called on all member states to implement the Travel Rule “without delay” to close “loopholes” not currently protected by regulation.
Crypto Exchange bitFlyer Aligns Itself With FATF ‘Travel Rule’ With New Restrictions
The company is only allowing crypto and transfers to platforms that comply with Coinbase-led Travel Rule Universal Solution Technology (TRUST).
Japan to Enforce Tougher Crypto Anti-Money Laundering Laws Next Month: Report
Earlier this month, global financial crimes watchdog FATF urged G-7 economies like Japan to lead by example to implement its controversial “travel rule” for crypto transfers.
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.”
G-7 Must Take Charge in Ending ‘Lawless’ Crypto Space, FATF Chief Says
President of the global financial crimes watchdog, T. Raja Kumar, urged G-7 leaders to “effectively” implement FATF’s crypto anti-money laundering norms ahead of their meeting this weekend.
Mastercard Launches Crypto Credential Service for Cross-Border Transfers
The set of verification standards uses technology from the CipherTrace, the well-known blockchain analytics platform Mastercard agreed to acquired in late 2021.
FATF Agrees on Action Plan to Drive Implementation of Global Crypto Norms
The global financial crime watchdog’s plenary, made up of 206 members of observer organizations like the IMF and the UN, will also take stock of what jurisdictions have been doing so far.
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.
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.
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.
‘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.
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.
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.
The Global Challenge of Regulating Virtual Assets
Moving through the high-level confusion of an emergent field of digital assets during a pandemic presented unique challanges.
Industry Pros Weigh In on Rumors of New Crypto Wallet Regulations
From shorter consultations to insider comments, recent rumors about U.S. regulation of private crypto wallets have some compelling context.