PYMNTS

NOVEMBER 10, 2020

Scan the headlines over the past few weeks and cryptos, well beyond the marquee bitcoin, are making inroads into mainstream consumer and business activities. PayPal is opening its network to allow consumers to shop using cryptocurrency. Square bought $50 million of bitcoin. The mechanics and clumsiness of it all have not helped.

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Cryptocurrency Blockchain Bitcoin Online and Mobile Banking 129

PYMNTS

DECEMBER 18, 2020

18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. Bitcoin is a popular example. Treasury Department proposed sweeping new rules late Friday (Dec.

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Treasury Rules Bitcoin Ransomware 141

PYMNTS

DECEMBER 10, 2020

Cryptocurrency is one of the fastest-moving industries in the digital world, with a market that was valued at $1.03 Bitcoin is one of the most famous names in the cryptocurrency space, accounting for $6 billion in daily transactions among 153 million registered user addresses. Cryptocurrency-related crimes totaled $4.3

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PYMNTS

NOVEMBER 30, 2020

When PayPal announced recently that its 350 million users can deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants next year, it was characterized as the inevitable advance of digital currency. Bitcoin is like a [crypto] 101 version. You Can’t Spend It.

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Bitcoin Cryptocurrency PayPal Privacy 117

PYMNTS

NOVEMBER 4, 2020

Bit by bit — but more than bitcoin by bitcoin — cryptos are inching into the mainstream, for both consumer and commercial applications. Elsewhere, Square announce last month that it has invested $50 million — approximately 1 percent of its total second-quarter assets — to purchase roughly 4,709 bitcoins. “We

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Bitcoin Cryptocurrency Office of the Comptroller of the Currency Consumer 83

PYMNTS

JANUARY 18, 2018

Treasury’s financial crime unit is picking up enforcement of cryptocurrency platforms that don’t have strong internal mechanisms in place to prevent money laundering, according to a report in Reuters. The cryptocurrency platforms in the U.S. isn’t the only country looking to crack down on the cryptocurrency market.

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PYMNTS

OCTOBER 21, 2018

The Financial Action Task Force (FATF) announced that it will get one step closer to creating international standards for cryptocurrency when it launches its first set of rules in June of 2019. The move aims to stop the use of crypto for money laundering, terrorism financing or other crimes. Last year, the U.K.

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AML Money Laundering Bitcoin Regulations 79

PYMNTS

JANUARY 14, 2021

Bitcoin is about to get even more scrutiny by regulators, on a global stage. As reported by Reuters this week, Lagarde said at a conference sponsored by the newswire that bitcoin should be regulated — worldwide. As of this writing, bitcoin is changing hands at more than $38,000. This has to be applied and agreed upon.

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Money Laundering Bitcoin Regulations Central Bank 61

PYMNTS

MARCH 1, 2019

In other news, there were more than 7,000 cases of suspected crypto-related money laundering reported to police in Japan last year. ” Coinhive , an in-browser Monero cryptocurrency miner that has been plagued by malware, revealed it is shutting down all week.

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Money Laundering Bitcoin Blockchain Cryptocurrency 75

PYMNTS

OCTOBER 12, 2020

Malcolm, according to a press release , boasts a wide background in anti-money laundering and compliance, saying compliance was “non-negotiable, and a prerequisite for exchanges to be embraced by regulators and institutional investors alike.”.

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PYMNTS

OCTOBER 7, 2020

With transactions that become irreversible almost instantaneously, bitcoin and other cryptocurrencies are winning new converts — among scammers eager to avoid credit card chargebacks that can eat into their ill-gotten gains. So, use your credit card to buy cryptocurrency that you give a scammer and you might be stuck.

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Bitcoin Consumer Cryptocurrency Scams 93

Clearly Payments

MARCH 11, 2024

In recent years, the rise of cryptocurrency has redefined traditional notions of currency and payment systems worldwide. Cryptocurrency, such as Bitcoin, Ethereum, and others, operates on decentralized blockchain networks, enabling secure, peer-to-peer transactions without the need for intermediaries like banks or financial institutions.

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Cryptocurrency Consumer Protection Financial Inclusion Payments 104

Payments Source

MARCH 9, 2020

The Treasury secretary’s recent Senate testimony coming down on cryptocurrencies is misguided. Regulations should require building better blockchain technology at the banks.

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Money Laundering Bitcoin Treasury Cryptocurrency 71

PYMNTS

DECEMBER 1, 2020

Bitcoin saw a new all-time record high on Monday (Nov. Bitcoin’s price has been steadily rising in recent weeks, climbing above $19,000 last week , thanks to the pandemic-driven shift toward digital payments and cryptocurrency adoption by several mainstream companies, including Square and PayPal. Eastern Time.

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PYMNTS

JULY 11, 2019

Federal Reserve called for a stop to Libra , Facebook’s proposed cryptocurrency, until the project better demonstrated how it was going to address issues like money laundering and privacy, according to a report by Reuters. Bitcoin was last down 4.5 Other cryptocurrencies, like Ethereum and Ripple, saw similar slumps.

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PYMNTS

SEPTEMBER 10, 2019

The Paris-based Financial Action Task Force (FATF), an organization which acts as the standard-setter for anti-money laundering (AML) standards around the globe, said it is closely watching the development of Facebook ’s planned cryptocurrency, Libra , according to a report by Reuters. A senior U.S.

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Money Laundering Finance Law Enforcement AML 59

PYMNTS

FEBRUARY 24, 2017

Is there an alternative, profound French phrase or two that can describe what investors have seen this week with bitcoin? Bitcoin is quickly headed toward fresh three-year highs after jumping up over $100 in value since last week’s tracker. 23) morning, bitcoin had broken $1,150 in value, reaching a high of $1,153.04.

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PYMNTS

MARCH 16, 2020

Guznov said per reports, “We believe there are big risks of legalizing the operations with the cryptocurrencies, from the standpoint of financial stability, money laundering prevention and consumer protection.”. The individual received a penalty of $1,570 and jail time of three years.

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Bitcoin Digital Currency Central Bank Money Laundering 97

PYMNTS

AUGUST 16, 2020

In other news, the Association of Cryptocurrency Enterprises and Start-ups Singapore ( ACCESS ) has rolled out an official Code of Practice, to help standardize the industry and aid players in meeting regulatory compliance, according to a press release.

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Digital Currency Bitcoin Money Laundering Consumer Protection 134

PYMNTS

JUNE 19, 2017

With many cybercriminals choosing bitcoin as their currency of choice, the U.S. Coinbase, an exchange for buying and selling cryptocurrency, caught wind of Troia’s methods and inquired whether he had U.S. When that’s the case, people like Troia need the access and freedom to act in the cryptocurrency sphere on behalf of the good guys.

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Bitcoin Regulations Money Laundering FBI 75

PYMNTS

JULY 21, 2020

Crypto boosters have spent the better part of the past decade promoting the idea that great fiat-currency disruptions are coming care of blockchain and literally hundreds of thousands of variations of cryptocurrency circulating in the world today. Even bitcoin is accepted by only a relative handful of digital retailers.

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Visa Cryptocurrency Blockchain Bitcoin 127

PYMNTS

AUGUST 20, 2018

Charges of money laundering and illegal money transmission have been levied against a 21-year-old bitcoin dealer in California. The charges allege that Burrell sold roughly $750,000 in bitcoin to about 900 individuals throughout the United States over a period that stretched from January 2015 to April 2016.

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Money Laundering Bitcoin Legal Framework Laws 41

PYMNTS

OCTOBER 1, 2018

31, 2018, will mark the 10th anniversary of the day that a link to a paper , authored by Satoshi Nakamoto , describing the digital currency called bitcoin was first publicly circulated. Ten years after bitcoin launched, it remains the go-to currency of criminals and a way for cybercrooks to wash their money.

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Bitcoin Blockchain Cryptocurrency Innovation 85

PYMNTS

JUNE 19, 2019

The announcement of Facebook’s Libra has buoyed other cryptocurrencies, especially Bitcoin, which gained in the neighborhood of 12 percent this week, to $9,477. The last time Bitcoin got close to the $10,000 level was in May 2018, but it couldn’t close the gap.

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PYMNTS

SEPTEMBER 23, 2016

Now You Can Trade Bitcoin Any Time. The Winklevoss twins want to trade bitcoin, and they want to do it now. Growing impatient waiting for their ETF fund to be listed and to boost bitcoin trading, the cofounders of the Gemini Trust Company, a digital currency exchange based in the U.S., The price of bitcoin reached $607.31

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Bitcoin Digital Currency Cryptocurrency Money Laundering 77

PYMNTS

JANUARY 30, 2020

Zermatt, a ski resort town of 5,400 residents in Switzerland, has decreed that cryptocurrency bitcoin can now be utilized to pay taxes and other government services, Bloomberg reported. Mayor Romy Biner-Hauser confirmed that her residents can now pay for an array of traditional government services using bitcoin.

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Bitcoin Ransomware Money Laundering Cryptocurrency 61

PYMNTS

JUNE 14, 2020

Xapo , a crypto wallet and bitcoin custodian, will no longer deal in credit card payments for digital asset purchases, according to an email from the company, as reported by CoinDesk. Xapo will also implement new restrictions on bank transfers, depending on a user’s location.

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Bitcoin Money Laundering Legal Gateways 80

PYMNTS

JANUARY 29, 2019

Francesco Firano, founder of cryptocurrency exchange BitGrail , has been ordered to repay the $170 million worth of cryptocurrency that allegedly went missing last year. He also deposited 230 bitcoins ($1.8 million) onto another cryptocurrency exchange and tried to withdraw the money through a bitcoin ATM.

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Digital Currency Bitcoin AML Cryptocurrency 67

PYMNTS

DECEMBER 24, 2020

If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Here are some of cryptos’ key developments for 2020: Bitcoin Goes Higher And Higher.

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Federal Reserve Bitcoin Cryptocurrency Office of the Comptroller of the Currency 103

PYMNTS

AUGUST 7, 2020

German authorities are cracking down on several allegedly illicit cryptocurrency-related operations in the country. The crypto company operates 17 of the 67 bitcoin ATMs in Germany, according to CoinDesk. The police worked with the FBI to trace and identify the Bitcoin involved. Movie2k.to

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Bitcoin ATM Money Laundering FBI 63

PYMNTS

JUNE 22, 2020

New Zealand police have frozen $90 million they say belongs to alleged bitcoin scammer Alexander Vinnik in what’s being called the country’s largest money seizure ever. Gox, the bitcoin exchange based in Japan. In 2017, Vinnik was arrested while on vacation in Greece at the request of U.S. authorities, AP reported.

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Bitcoin Money Laundering Crime Financial Crimes 72

PYMNTS

APRIL 14, 2019

The International Monetary Fund ( IMF ) and the World Bank are partnering up to launch a private blockchain and “quasi-cryptocurrency.”. Since the coin has no monetary value, it’s not an actual cryptocurrency, according to The Financial Times.

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Cryptocurrency Blockchain Money Laundering Digital Currency 78

PYMNTS

JUNE 9, 2019

“While crypto assets do not pose a threat to global financial stability at this point, we remain vigilant to risks, including those related to consumer and investor protection, anti-money laundering (AML) and countering the financing of terrorism (CFT),” said the joint statement, according to Coin Telegraph.

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Bitcoin ATM Risk Regulations 72

PYMNTS

SEPTEMBER 10, 2019

The Geneva-based, Facebook-led Libra cryptocurrency will have to adhere to stringent regulations, Reuters reported on Tuesday (Sept. Under Secretary of Terrorism and Financial Intelligence Sigal Mandelker told Geneva reporters that all cryptocurrency projects operating in the U.S.

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Money Laundering Finance Cryptocurrency Digital Currency 43

PYMNTS

DECEMBER 21, 2020

Italian police charged the former head of cryptocurrency exchange BitGrail, identified by the initials of “F.F.,” with money laundering, fraudulent banking and computer fraud, Reuters reported. “It cryptocurrency exchange Exmo reported a “major” security breach on Mon. They allege that F.F. Meanwhile, U.K.

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Blockchain Bitcoin Money Laundering Cryptocurrency 82

PYMNTS

MARCH 1, 2020

government have been attempting to tackle cryptocurrency issues. Mnuchin spoke of the need for a balance between allowing the tech to move forward in an uninhibited manner for inventions and new ideas, and also making sure that money laundering and crime do not escalate. Other areas of the U.S.

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Blockchain Small Business Bitcoin Money Laundering 97

PYMNTS

MAY 29, 2020

Bitcoin : not worth much – except what someone else is willing to pay for it. Goldman Sachs’ withering assessment of bitcoin this week may be enough to take some wind out of the sails of those who have been looking for the marquee name in crypto to find its way into mainstream commerce. Meanwhile, money laundering represented $2.8

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Bitcoin Wire Transfer ACH Network Money Laundering 74