The Financial Action Task Force (FATF) has recently shared New Zealand’s progress in its efforts focused on “strengthening measures to tackle money laundering and terrorist financing.” FATF noted in a blog post that since the 2021 assessment of New Zealand’s measures to tackle money laundering… Read More
The non-profit sector performs a vital role in our society, providing relief and support to groups of the population in need, “at times of urgent crisis and often in challenging circumstances and regions.” Unfortunately, charitable fundraising has also “been used to provide cover for the… Read More
Jurisdictions under increased monitoring are “actively working” with the Financial Action Task Force (FATF) to address “strategic deficiencies” in their regimes in order to counter money laundering, terrorist financing, and proliferation financing. When the FATF places a jurisdiction under increased monitoring, it “means the country… Read More
The Financial Action Task Force (FATF) has “advanced its core work on virtual assets, beneficial ownership transparency, and illicit finance risks,” according to a public statement. The FATF has approved for publication an updated version of its Guidance on a Risk-Based Approach to Virtual Assets… Read More
Leading blockchain analysis firm Chainalysis has released an update titled, “Not All Blockchain Analysis Providers Are the Same and Other Insights from FATF’s Second 12-Month Review.” The Financial Action Task Force (FATF) is the inter-governmental entity that’s responsible for establishing international standards relating to anti-money… Read More
On July 5, 2021, the Financial Action Task Force (FATF) had completed its second 12-month review of the implementation of its updated Standards on virtual assets and virtual asset service providers or VASPs. A review from CipherTrace examines how different jurisdictions and the private sector… Read More
Global Digital Finance (GDF), an organization that advocates on behalf of the digital asset industry, has distributed a letter sent to the Financial Action Task Force (FATF) pertaining to guidelines regarding the regulation of virtual assets and virtual asset service providers or “VASPs.” FATF is… Read More
Digital currency exchange Binance is celebrating the launch of Tether (USDT)-margined quarterly futures contracts by introducing a related Referral Bonus Campaign with their affiliate community beginning on April 1 (00:00 UTC) to June 30 (11:59 UTC), 2021. The Binance team noted that a 30% commission… Read More
Blockchain security firm CipherTrace has provided an analysis on the proposed Financial Action Task Force (FATF) guidance for digital assets and virtual asset service providers (VASPs). On March 19, 2021, global anti-money laundering watchdog, the FATF, released a public consultation for its latest Draft Guidance… Read More
Blockchain security firm CipherTrace notes that its Traveler product has been developed to assist virtual asset service providers or VASPs with adhering to the international “Travel Rule” regulations by securely sharing digital currency transaction details with other “vetted” VASPs. CipherTrace explains that its tools are… Read More
Sygna Bridge, the “market-ready” solution developed for Virtual Asset Service Providers (VASPs) to fulfill the Financial Action Task Force (FATF) Recommendation 16’s “Travel Rule,” has reportedly become the very first FATF Travel Rule solution to go through an independent assessment by The Association of Cryptocurrency… Read More
Blockchain security firm Ciphertrace has noted that FinCEN’s suggested rule change for the Travel Rule Threshold would “more than double” compliance events for US-based virtual asset service providers or VASPs. CipherTrace confirms that FinCEN had released a proposed rule change (in October 2020). The recommendation… Read More
The Financial Action Task Force (FATF) recently published a document for regulatory authorities and enforcement agencies. The FATF listed several different “red flags” in cryptocurrency transfers and service user profiles that may indicate that the entities involved in the transactions are engaging in money laundering,… Read More
The Financial Action Task Force (FATF), an intergovernmental organization that develops policies to combat money laundering and terrorism financing, has released an updated report, titled, Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing. Published on September 14, 2020, the report notes that… Read More
The Financial Action Task Force (FATF), an intergovernmental organization that develops policies to combat money laundering and terrorism financing, recently concluded its year long review of its Travel Rule standards for virtual asset service providers (VASPs). The FATF confirmed that it will be extending its… Read More
BitGo, digital asset financial services provider, announces API support for the Financial Action Task Force (FATF) Travel Rule. BitGo claims it is the first wallet provider to come to market with a solution for the Travel Rule for its cold and hot wallet services by… Read More
The Financial Action Task Force (FATF) completed a meeting this week calling on members to “tackle new threats and vulnerabilities posed by criminals during the COVID-19 crisis.” The FATF is an international policy-making and standard-setting body, headquartered in Paris, dedicated to combating money laundering and… Read More
CoolBitX, a blockchain security firm that’s developing the infrastructure needed to bridge the gap between the mainstream financial market and cryptocurrency sector, recently presented its findings of Sygna Bridge’s production report to Financial Action Task Force (FATF) Contact Group members. As mentioned in a… Read More
The United Arab Emirates’ (UAE) top regulatory authorities have asked local businesses to leverage the latest Fintech solutions to counter anti-money laundering (AML) and other types of illicit financial activities. The advisory was issued by the nation’s reserve bank, Ministry of Economy, Ministry of Justice,… Read More
The legislative assembly of the Cayman Islands has introduced five new pieces of legislation that may be used to regulate local firms dealing in cryptocurrencies. The proposed rules have mainly been created to monitor the operations of digital asset exchanges. The Virtual Asset Service Provider… Read More
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