Anti Money Laundering
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Taiwan Aligns with India, Japan on AML Regulations for Crypto Businesses, Accelerates Registration Deadline
This week, Taiwan's Financial Supervisory Commission (FSC) announced that all cryptocurrency firms, whether already operating in the country or planning to establish operations, must register for anti-money laundering (AML) compliance. The FSC has advanced the registration deadline from January 1, 2025, to November 30, 2024, urging firms to expedit...
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UK Says 90 Percent Crypto Firms Applying for Licence Lacks Money Laundering, Fraud Precautions
A recent report by the UK Financial Conduct Authority (FCA) has said that they have rejected 90 percent of the registration applications of crypto firms in recent times. Inconsistencies with security measures against frauds and money laundering activities have emerged among top reasons for licence rejection.
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Brazil to Unveil Second Phase of Crypto Rules by End of 2024: Report
Without disclosing too many details about the ‘internal planning’, Brazil’s Apex bank has confirmed that laws to monitor the use of stablecoins and the role they can play in foreign exchange settlements and other payments are in the pipeline this year.
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Hong Kong Amends Anti-Money Laundering Bill to Include Crypto, Here’s What it Means
Hong Kong, who recently emerged as the most crypto ready nation in the world, has taken a proactive step to ensure that crypto assets are not misused by criminals for moving illicit funds, illegally. The country has amended its Anti-Money Laundering (AML) and Counter-Terrorist Financing (Amendment) Bill 2022, to now include crypto transactions as w...
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Digital currency firms rush to adopt anti-money laundering rules
Digital currency firms are trying to satisfy new monitoring requirements without letting public enthusiasm for the technology-based concept slip away.
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Taiwan Aligns with India, Japan on AML Regulations for Crypto Businesses, Accelerates Registration Deadline
This week, Taiwan's Financial Supervisory Commission (FSC) announced that all cryptocurrency firms, whether already operating in the country or planning to establish operations, must register for anti-money laundering (AML) compliance. The FSC has advanced the registration deadline from January 1, 2025, to November 30, 2024, urging firms to expedit...
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UK Says 90 Percent Crypto Firms Applying for Licence Lacks Money Laundering, Fraud Precautions
A recent report by the UK Financial Conduct Authority (FCA) has said that they have rejected 90 percent of the registration applications of crypto firms in recent times. Inconsistencies with security measures against frauds and money laundering activities have emerged among top reasons for licence rejection.
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Brazil to Unveil Second Phase of Crypto Rules by End of 2024: Report
Without disclosing too many details about the ‘internal planning’, Brazil’s Apex bank has confirmed that laws to monitor the use of stablecoins and the role they can play in foreign exchange settlements and other payments are in the pipeline this year.
-
Hong Kong Amends Anti-Money Laundering Bill to Include Crypto, Here’s What it Means
Hong Kong, who recently emerged as the most crypto ready nation in the world, has taken a proactive step to ensure that crypto assets are not misused by criminals for moving illicit funds, illegally. The country has amended its Anti-Money Laundering (AML) and Counter-Terrorist Financing (Amendment) Bill 2022, to now include crypto transactions as w...
-
Digital currency firms rush to adopt anti-money laundering rules
Digital currency firms are trying to satisfy new monitoring requirements without letting public enthusiasm for the technology-based concept slip away.
