Retail Focused Central Bank Digital Currencies are “More Advanced” where Informal Economy is Larger: BIS Report

August 25, 2020 @ 8:27 am By Omar Faridi |

The Bank for International Settlements (BIS), a global financial institution owned by reserve banks that aims to support international monetary and financial cooperation and acts as a bank for central banks, has noted that central bank digital currencies (CBDCs) are now “in the limelight.” However,… Read More

Read more in: Blockchain & Digital Assets, Fintech, Global, Politics, Legal & Regulation | Tagged aml, amld, amld5, anti money laundering, bank for international settlements, bis, cbdc, central bank digital currencies, cft, coolbitx, counter terrorism financing, digital currencies, elsa madrolle, fatf

Monero (XMR), Zcash (ZEC), Stellar (XLM) to be Delisted by Liquid Exchange so it can Prepare to Acquire Payment Services License in Singapore

July 26, 2020 @ 1:18 pm By Omar Faridi |

The Electric Coin Company (ECC), which supports the development of Zcash (ZEC), a privacy-oriented cryptocurrency, recently revealed that Liquid will be delisting ZEC along with 28 other digital currencies or tokens because the Japanese crypto trading platform is planning to apply for a license to… Read More

Read more in: Asia, Blockchain & Digital Assets, Politics, Legal & Regulation | Tagged aml, anti money laundering, cft, compliance, ecc, electric coin company, japan, liquid exchange, monero, payment services act, privacy, privacy coin, singapore, stellar, xlm, XMR, zcash, zec

Payment Verification Tech Provider ISignThis Loses Legal Battle to Suppress Australian Securities Exchange’s Reasons for Share Suspension

May 3, 2020 @ 11:29 am By Omar Faridi |

ISignthis (ASX:ISX), a Melbourne-based provider of remote AML/CFT KYC-enhanced due diligence identity proofing, has reportedly lost its initial legal battle with the Australian Securities Exchange (ASX) over the suspension of its company shares. The suspension was announced following an order from the federal court which… Read More

Read more in: General News, Global, Politics, Legal & Regulation, Regtech & Legaltech | Tagged aml, asx, australia, Australian Securities Exchange, cft, isignthis, kyc, melbourne, regulatory technology

European Parliament Suggests Broadening the Definition of Virtual Currencies and Platforms that Need to Follow Financial Regulations

April 11, 2020 @ 10:52 am By Omar Faridi |

The European Parliament suggests that the EU should consider broadening the existing definition of digital assets or cryptocurrencies and expand its current list of blockchain or crypto-related organizations that may need to follow financial regulations. The EU adopted the Fifth Anti-Money Laundering Directive (AMLD5) back… Read More

Read more in: Blockchain & Digital Assets, Global, Politics, Legal & Regulation | Tagged aml, anti money laundering, cft, counter terrorism financing, crypto miners, crypto mining, crypto-assets, digital assets, europe, european parliament, european union, regulations

CBDC: Central Bank Digital Currencies Could Offer a Public Means of Payment Without Needing a Bank Account, IMF Official Says

March 23, 2020 @ 3:15 pm By Omar Faridi |

Tao Zhang, deputy managing director at the International Monetary Fund (IMF), has argued that issuing central bank digital currencies (CBDCs) may lower costs and enhance the overall efficiency of the financial system. Zhang, whose comments came during a keynote presentation, held at the London School… Read More

Read more in: Blockchain & Digital Assets, Global | Tagged aml, anti money laundering, cbdcs, central bank, central bank digital currencies, cft, counter terrorism financing, digital currency, imf, international monetary fund, reserve bank, tao zhang, virtual currency

G20 Finance Ministers Affirm Amended FATF Guidelines for “Crypto Assets” in Fukuoka, Say They’ll Be Adopted in Osaka

June 10, 2019 @ 2:57 pm By Cali Haan |

Finance Ministers from the world’s 20 most powerful economies have “…reaffirm(ed) (their) commitment to applying the recently amended FATF Standards to virtual assets and related providers for AML (anti-money laundering) and CFT (anti-terrorist finance),” in a communique issued from a meeting they held this weekend… Read More

Read more in: Asia, Blockchain & Digital Assets, Global, Politics, Legal & Regulation | Tagged aml, cft, fatf, g20, iosco, japan, regulation