2023 and Travel Rule - Payments Space

Sumsub and Binance to Streamline Travel Rule Compliance in Crypto Transactions

Fintech News

MARCH 26, 2024

Sumsub, a global verification and compliance provider, announced its partnership with crypto exchange Binance to integrate its Travel Rule solutio n through the Global Travel Rule (GTR) Alliance.

Travel Rule

Travel Rule Rules Compliance Transactions

Sumsub Integrates Travel Rule Solution with Binance, Supporting VASPs Globally

The Fintech Times

MARCH 28, 2024

Sumsub , a global full-cycle verification and compliance provider, has completed the integration of its Travel Rule solution with Binance , the crypto exchange platform, through the Global Travel Rule (GTR) Alliance.

Travel Rule

Travel Rule Rules Interoperability Deepfake

The EBA issues ‘travel rule’ guidance to tackle money laundering and terrorist financing in transfers of funds and crypto assets

Neopay

JULY 18, 2024

The European Banking Authority (EBA) issued new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.

Travel Rule

Travel Rule Money Laundering Rules Finance

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MAS Grants Full Crypto Payment License to Upbit Singapore

Fintech News

JANUARY 7, 2024

This announcement comes after the initial in-principle approval (IPA) that Upbit Singapore had received in October 2023. Bedsides Singapore, the group already operates regulated exchanges Indonesia and Thailand, as well as VerifyVASP, a travel rule solution provider.

APACS

APACS Travel Rule Payments Regulations

Sumsub Integrates with Chainalysis to Strengthen Crypto Transaction Security

Fintech News

MARCH 12, 2024

This trend is underscored by Sumsub’s reports, which note a 128 percent increase in deepfake incidents in 2023, with the Asia-Pacific region experiencing a 1530 percent surge. This partnership between Sumsub and Chainalysis responds to the increasing digital fraud in the crypto sector.

Transactions

Transactions Security Deepfake Travel Rule

Here’s How 10 APAC Markets Are Approaching Crypto Regulation

Fintech News

FEBRUARY 27, 2024

2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.

APACS

APACS Regulations Stablecoins Cryptocurrency

The EBA consults on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes

Neopay

NOVEMBER 27, 2023

These ‘travel rule’ Guidelines specify the steps that Payment Service Providers (PSPs), Intermediary PSPs (IPSPs), crypto-asset service providers (CASPs) and Intermediary CASPs (ICASPs) should take to detect missing or incomplete information that accompanies a transfer of funds or crypto-assets.

Money Laundering

Money Laundering Consulting Finance Travel Rule

Sumsub to Showcase Digital Identity Verification Solutions at Seamless Asia

Fintech News

FEBRUARY 18, 2024

This includes the development of proprietary technologies such as workflow builders, liveness and deepfake detection, and mechanisms to adhere to the travel rule. “As regulators made the travel rule a compliance requirement, the world is fast evolving to adopt the travel rule.

Verification

Verification Travel Rule Multi-Currency Compliance

Mastercard Takes Official First Step in World of Crypto: Mastercard Crypto Credential Goes Live

The Fintech Times

JUNE 3, 2024

Payments giant, Mastercard has achieved a new milestone in its crypto endeavour as its Crypto Credential offering, first announced at Consensus 2023, has officially gone live. Mastercard Crypto Credential supports the exchange of travel rule information for cross-border transactions.

Credential

Credential Visa Cross-Border Travel Rule

EBA issues guidance to crypto-asset service providers to effectively manage their exposure to ML/TF risks

Neopay

JANUARY 25, 2024

This risk is increased where credit and financial institutions engage in business relationships with providers of crypto-asset services which are not authorised under Regulation (EU) 2023/1114.

Service Provider

Service Provider Risk Due Diligence Money Laundering

Here Are All The Licensed Crypto Services Providers in Singapore

Fintech News

JANUARY 24, 2024

Further highlighting Singapore’s changing stance towards crypto businesses, several new rules have been introduced this year, which forbid DPT service providers to promote their services to the general public and require crypto service providers in the city-state that only do business overseas to be licensed regardless.

Service Provider

Service Provider Cryptocurrency Payments Institute Stablecoins

Understanding Crypto Money Laundering, and How to Get a Handle on It

Fintech News

JULY 17, 2024

In 2023, there were over 1.4 The Chainalysis report reveals that intermediary wallets often account for over 80% of the total value flowing through laundering channels, highlighting their critical role in these illicit operations. The proliferation of intermediary wallets has been remarkable.

Money Laundering

Money Laundering Law Enforcement AML Non-Bank

Hong Kong Consults on Proposed Approach to Stablecoin Legislation

Global Fintech & Digital Assets

JANUARY 8, 2024

By Simon Hawkins and Adrian Fong On 27 December 2023, the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) released a consultation paper on their legislative proposal for a regulatory regime governing stablecoin issuers in Hong Kong (Consultation Paper).

Stablecoins

Stablecoins Consulting Issuers Non-Bank

Sumsub and Binance to Streamline Travel Rule Compliance in Crypto Transactions

Sumsub Integrates Travel Rule Solution with Binance, Supporting VASPs Globally

The EBA issues ‘travel rule’ guidance to tackle money laundering and terrorist financing in transfers of funds and crypto assets

Webinars

MAS Grants Full Crypto Payment License to Upbit Singapore

Sumsub Integrates with Chainalysis to Strengthen Crypto Transaction Security

Here’s How 10 APAC Markets Are Approaching Crypto Regulation

The EBA consults on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes

Sumsub to Showcase Digital Identity Verification Solutions at Seamless Asia

Mastercard Takes Official First Step in World of Crypto: Mastercard Crypto Credential Goes Live

EBA issues guidance to crypto-asset service providers to effectively manage their exposure to ML/TF risks

Here Are All The Licensed Crypto Services Providers in Singapore

Understanding Crypto Money Laundering, and How to Get a Handle on It

Hong Kong Consults on Proposed Approach to Stablecoin Legislation

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