Spanish Officials: AML Regulations Lack Bitcoin ATM Guidelines

Spanish law enforcement officials claim that there are issues with European anti money laundering (AML) regulations after finding that bitcoin ATMs are being used by criminal organizations, according to Bloomberg.  The AML regulations, which were released in July 2018, are set to be executed next year by the European Commission. However, Europol and Spain’s Civil…

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Canadian Government Releases Final AML Regulations for Crypto Businesses

Aware of growing public concern about money laundering and terrorist financing, the government of Canada introduced its final anti-money laundering (AML) regulations today, July 10, 2019. These rules will impact Canadian crypto businesses, including exchanges, digital platforms, custodial wallets, ICOs, utility and gaming tokens, escrow services and possibly bitcoin ATMs. The title of the new…

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France Creates G7 Taskforce to Examine Facebook’s Libra, Crypto Regulation

A G7 taskforce is being created to examine how central banks can regulate cryptocurrencies such as Facebook’s libra, Reuters reported on June 21. Francois Villeroy de Galhau, the governor of France’s central bank, said: “We want to combine being open to innovation with firmness on regulation. This is in everyone’s interest.” Although Paris has said it is not against Facebook creating…

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Bitcoin: Anti-Money Laundering Challenges and Solutions

Working with bitcoin is easy enough, given the wide array of bitcoin wallets and other payment processing tools available today. However, determining whether incoming bitcoin are tainted by or connected to illicit activity is increasingly challenging. It’s also increasingly important for businesses or banks that want to deal in cryptocurrency while remaining compliant with anti-money…

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G20 to Establish Crypto AML and Counter-Terrorism Financing Regulations in June: Report

G20 member countries will meet to discuss international cryptocurrency Anti-Money Laundering (AML) regulation on June 8 and 9 in Fukuoka, Japan. The news was revealed in a report from local news outlet Kyodo on April 4. Per the report, and in accordance with official plans, G20 central bank governors and finance ministers will take part…

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US Treasury Official Calls on Crypto Industry Players to Combat Illicit Use of Crypto

The U.S. Department of the Treasury Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker urged crypto industry players and regulators to prevent the illicit use of cryptocurrencies in a speech Dec. 3. Speaking at the Financial Crimes Enforcement Conference on Dec. 3, Mandelker addressed the issue of mitigating risks related to emerging technologies, including…

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