CipherTrace Enters Race to Solve Crypto’s FATF Compliance Headache

CipherTrace has unveiled its answer to one of the thorniest questions now facing the cryptocurrency industry: how to securely share information about customers under new global regulatory guidelines. On Tuesday, the blockchain security firm published its final white paper and open source software for wallet providers and crypto exchanges to comply with the Financial Action…

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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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India to Educate High-Ranking Police Officers on Cryptocurrency

India’s national police academy has launched a cryptocurrency course for high-ranking officers of the Indian Police Service. Among the objectives of the course are the functioning and legal aspects of cryptocurrencies, as well as investigations of cases involving digital coins. The Indian police continue to regularly uncover crypto-related schemes as the government deliberates on the…

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FATF Guidelines and What They Get Wrong About Bitcoin

In this episode, Dave discusses the new Financial Action Task Force (FATF) guidelines with Amsterdam-based regulatory consultant Simon Lelieveldt, who argues that these guidelines are disproportionate, technically unsound and uneconomic. At the crux of this topic is the difference between how Facebook’s Libra will accept regulation versus advocacy for online privacy by many in the…

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G20 Supports FATF Crypto Recommendations

At a conference in Osaka, Japan, on June 28 and 29, 2019, the leaders of the G20 economic bloc formally announced their support of the Financial Action Task Force’s (FATF) cryptocurrency guidelines as laid out in late June. The FATF is an international regulatory organization with the set task of making formal policy recommendations to…

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FATF Releases Global Standards for Crypto Assets

The Financial Action Task Force adopted its new rules on crypto assets and published its updated Guidance on Virtual Assets and Virtual Asset Service Providers Friday. Under these new measures, crypto service providers will be required to implement the same requirements as traditional financial institutions. Also read: Indian Cryptocurrency Regulation Is Ready, Official Confirms FATF’s…

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