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FATF – Financial Action Task Force
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.
Japan will introduce strict anti-money laundering rules on cryptocurrency transactions from June 1, the Southeast Asian nation’s cabinet decided on Tuesday.
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.
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 […]
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 […]
Russia considers a bitcoin for oil proposal. Meanwhile, crypto markets make gains after weeks of volatility.
Flexibility allowed in new rule requiring crypto companies to comply with anti-money laundering guidelines leads to some confusion.
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 […]
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 […]
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 […]
It’s a myth that crypto transactions are anonymous, writes Warren Paul Anderson of Discreet Labs. Confusing anonymity with privacy is what causes trouble.
The global AML watchdog provides clarifications on how crypto is to be regulated — and why DeFi could see more scrutiny.
Three of South Korea’s four major exchanges have launched a joint venture to develop solutions for complying with the Financial Action Task Force’s (FATF) crypto travel rule. The travel rule sets a global standard for virtual asset service providers to combat money laundering and terrorist financing and requires exchanges to collect information on senders and […]
In the latest from the world’s third-largest cryptocurrency, which has gone from strength to strength this month, the Cardano Foundation is partnering with blockchain analytics provider Coinfirm.io to ensure the network complies with the Financial Action Task Force’s guidelines. Fast facts In a company announcement this week, the Cardano Foundation said it would be using […]
Crypto exchanges, or VASPs, are coming under increasing regulation. Complying with the Financial Action Task Force’s travel rule will be one of them.
The Financial Action Task Force — the global anti-money laundering and counter-terrorist financing standards-setter — this week released its second 12-month review on virtual assets and virtual asset service providers, and called on countries to implement the revised FATF standards, including travel rule requirements “as soon as possible.” “The global nature of the underpinning technology […]
Why are so few adopting FATF guidance for VASPs? Money laundering watchdog decries ‘continued misuse of virtual assets through jurisdictional arbitrage.’
Fast-growing DeFi — still a largely unregulated industry — gives FATF an earful over its proposed ‘travel rule’ and expanded anti-money laundering rules.
New KPMG report outlines opportunities for investors as well as traditional banks with the rise of VASPs like cryptocurrency exchanges and custody services.
On his first day in office, President Biden put a freeze on all new or pending Trump-era rules, including rules for crypto, and asked for a review.
CFTC’s new plans for crypto regulations and OCC permitting banks to be crypto custodians could boost digital asset adoption. What’s next for FATF and SEC?
How FATF’s anti-money laundering guidelines for cryptocurrency are putting the heat on banks and VASPs
David Jevans, CEO of CipherTrace, explains FATF’s global influence and recent enforcement actions that have proven to be expensive for those caught.
How are crypto companies complying with the travel rule, and what does it mean for decentralization and privacy? In a Forkast.News exclusive, industry experts analyze FATF’s impact on regulations around the world and what to expect next.
FATF is setting international standards, shifting the crypto world from a “wild west” mentality to a more compliant space, says CoolBitX CEO Michael Ou.