AML

Monetary Authority of Singapore Issues AML-CFT Guidelines

Just In: Monetary Authority of Singapore Issues AML/CFT Guidelines

Some countries have been late to the party when it comes to recognizing and regulating digital assets. The first time that Singapore’s central bank issued a framework for the regulation of payment-related activities was on Jan. 28 with the Payment Services Act. However, the Monetary Authority of Singapore (MAS) still saw the potential risks that […]

Digitex to remove KYC to protect user data

Crypto Exchange Digitex Removes KYC to Protect User Data

While some global crypto exchanges move to expand Know Your Customer (KYC) rules, some major rivals claim that crypto platforms don’t need KYC at all. Digitex, a Seychelles-based crypto derivatives exchange, will start removing KYC identification this week in response to a major user data leakage that happened last month. Digitex will have no KYC […]

Crypto in latin america

Crypto Contributes to Money Laundering Problems in Latin America

Amid a major economic downturn, countries in Latin America (LATAM) are increasingly suffering from money laundering through cryptocurrencies, a new report says. Cryptocurrencies like Bitcoin have become a major tool of organized crime groups and hackers in LATAM countries, according to a Feb 27 report issued by threat intelligence firm IntSights. Titled “The Dark Side […]

Hong Kong and Abu Dhabi to change their crypto regulations to comply with FATF

Hong Kong and Abu Dhabi Change Crypto Regulations to Align with FATF

On Feb 26, Hong Kong’s financial secretary Paul Chan stated that his administration will strengthen its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) policies regarding cryptocurrencies. In his recent budget speech, Chain indicated that the amendments will address recommendations made by the global financial watchdog, the Financial Action Task Force (FATF). New Regulations to affect […]

tether

Tether to Track Stablecoin Network Activity with Chainalysis Suite

Chainalysis is rolling out a global compliance solution for Tether (USDT). The announcement just happens through a press release. As a result, the stablecoin’s issuer is now able to identify “high risk” transactions occurring on its network. The tracking is possible via Chainalysis’ Know-Your-Transaction (KYT) suite which allows token issuers to monitor the activity of […]

FINMA wants to bring stricter AML rules for crypto transactions

FINMA Wants to Bring Stricter AML Rules for Crypto Transactions

The Swiss Financial Market Supervisory Authority (FINMA) suggests a plan to bring stricter anti-money laundering rules for crypto transactions. As per the proposal, crypto transactions of over 1,000 Swiss Francs will require client identification as opposed to the current limit of 5,000 francs. FINMA said the new limit is due to heightened money laundering risks […]