Lens
Regulation
FATF’s travel rule is looming over the crypto industry as an existential threat, writes Jack Jia of Unlimit. Here's why it's especially worrying to DeFi and self-custody wallet users.
Jack Jia
Regulation
Japan will introduce strict anti-money laundering rules on cryptocurrency transactions from June 1, the Southeast Asian nation’s cabinet decided on Tuesday.
Pradipta Mukherjee
Compliance Challenges
For crypto to grow for the long term, the industry must show greater respect for global standards that combat crime, writes Slava Demchuk of AMLBot.
Slava Demchuk
Regulation
Japan is planning to introduce remittance rules to prevent money laundering through cryptocurrencies, Nikkei Asia reported Tuesday. See related article: China says it busted US$5.6B crypto money laundering ring Fast facts The Japanese authorities plan to revise “The Act on Prevention of Transfer of Criminal Proceeds” to require exchanges to provide user data when sending […]
Timmy Shen
Regulation
A month after South Korea adopted the Financial Action Task Force’s (FATF) travel rule, two solution providers VerifyVASP and CODE have linked their services on Monday to allow seamless access to exchanges for investors. See related article: DeFi, NFT access at stake as FATF travel rule takes effect in South Korea Fast facts The FATF […]
Danny Park
Regulation
Flexibility allowed in new rule requiring crypto companies to comply with anti-money laundering guidelines leads to some confusion.
Danny Park
Regulation
South Korea’s financial watchdog has passed on the compliance of private cryptocurrency wallets to exchanges, as the Financial Action Task Force (FATF) travel rule went into effect on Friday. See related article: FATF updates regulatory guidance for crypto industry Fast facts “The travel rule only regulates transactions among individuals. There isn’t any rule pertaining to […]
Danny Park
Regulation
Financial Action Task Force (FATF) travel rule compliance service providers VerifyVASP and CODE have signed a memorandum of understanding to link their services before the rule goes into full effect in South Korea this Friday. See related article: South Korean crypto businesses scramble to meet FATF travel rule Fast facts The two entities are backed […]
Danny Park
Regulation
Around 30 South Korean crypto and blockchain firms have officially started partnering with CODE, a joint venture formed to meet the Financial Action Task Force (FATF) travel rule. See related article: What lies ahead for crypto regulations in 2022 Fast facts FATF’s travel rule is a global set of guidelines for virtual asset service providers […]
Danny Park
Regulation
It’s a myth that crypto transactions are anonymous, writes Warren Paul Anderson of Discreet Labs. Confusing anonymity with privacy is what causes trouble.
Warren Paul Anderson
