PYMNTS

AUGUST 21, 2020

More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report. It’s highly unlikely that all of this is capital flight,” Chainalysis said in the report.

Cryptocurrency 139

Cryptocurrency Stablecoins Money Laundering Regulatory Compliance 139

PYMNTS

JANUARY 6, 2019

In other news, Vaishali Mehta, who worked as a senior compliance manager at Coinbase, has left the company to become the head of compliance for TrustToken , which produces the TrueUSD stablecoin. Crypto is an exciting place, and I have been lucky to have been a part of this ‘madness,’” Mehta told CoinDesk. “I

Stablecoins 64

Stablecoins Blockchain Finance AML 64

PYMNTS

JANUARY 25, 2019

Chainalysis unveiled an anti-money laundering (AML) compliance solution for stablecoins called Know Your Transaction (KYT), the company said in an announcement. The product seeks to track stablecoins through every transaction, with the inclusion of redemption and issuance.

Blockchain 49

Blockchain Stablecoins Bitcoin Digital Currency 49

CoinRemitter

JULY 9, 2024

From efforts to boost oversight of stablecoin arrangements, to focus on the DeFi space, 2024 promises to be a year of crypto regulatory developments. Stablecoins will take Center Stage Stablecoins are gaining traction among financial institutions worldwide, attracting the attention of regulators also in 2024.

Stablecoins 40

Stablecoins Financial Crimes Cryptocurrency Money Laundering 40

PYMNTS

JUNE 8, 2020

Select Chinese digital currency sellers and buyers along with over-the-counter (OTC) market makers have had accounts frozen as money laundering actions involving digital currencies reportedly may have tainted their transactions.

Accounts 53

Accounts Digital Currency Money Laundering Bitcoin 53

PYMNTS

OCTOBER 18, 2019

The Financial Action Task Force (FATF) said it is worried about “ stablecoins ,” like Facebook’s Libra , and how they could be used for illicit purposes. If stablecoins were to become widespread, it could potentially lead to new risks regarding money laundering and terrorist financing,” FATF President Xiangmin Liu said. “It

Stablecoins 40

Stablecoins Money Laundering Digital Currency Addressing 40

PYMNTS

JUNE 21, 2019

The head of Germany’s central bank warned about stablecoins, which are cryptocurrencies tied to traditional currencies, according to a report by Reuters. They want to make sure the digital currency isn’t used for money laundering and that it doesn’t jeopardize the financial system.

Central Bank 59

Central Bank Money Laundering Stablecoins Digital Currency 59

PYMNTS

JUNE 10, 2020

The news comes amid a broader probe into illicit actions like money laundering and gambling that are said to be helped by the over-the-counter (OTC) trading of Tether, the digital currency stablecoin.

Digital Currency 53

Digital Currency Accounts Money Laundering Central Bank 53

PYMNTS

DECEMBER 24, 2020

Here are some of cryptos’ key developments for 2020: Bitcoin Goes Higher And Higher. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. And one of the most notable events of 2020 was the big appreciation in bitcoin’s price, tied as it is (and was) to optimism about cryptos’ future.

Federal Reserve 103

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

PYMNTS

FEBRUARY 19, 2020

To do so, they used 3,518 ETH to purchase synthetic USD stablecoin from the issuer. In other news, the Financial Conduct Authority’s anti-money-laundering initiatives have led to complications for EPayments Systems, which had one million user accounts frozen on Tuesday.

IRS 67

IRS Cryptocurrency Digital Currency Money Laundering 67

PYMNTS

OCTOBER 14, 2020

As much as Bitcoin and other cryptocurrencies have attracted scrutiny from the Department of Justice and still lack mainstream acceptance, Voyager’s portfolio of so-called “stablecoins” (which are linked to an underlying currency such as the U.S. Ehrlich said stablecoins, including the U.S.

Treasury 129

Treasury Cryptocurrency Stablecoins Fincen 129

PYMNTS

JUNE 20, 2019

Powell also said that regulators have jurisdiction to enforce anti-money laundering regulations on business that operate within the digital sphere. “We Libra is going to be a stablecoin, which means that unlike Bitcoin, it is tied to actual currency and financial companies like Uber and eBay.

Regulations 67

Regulations Money Laundering Federal Reserve Digital Currency 67

PYMNTS

JULY 9, 2019

When Libra launches in 2020 or in the future, it will be a currency that’s tied to real money, called a stablecoin. This will differentiate it from other digital offerings like bitcoin and theoretically help control the price from ballooning or cratering one way or the other.

Cryptocurrency 54

Cryptocurrency Laws Central Bank Money Laundering 54

PYMNTS

JUNE 18, 2019

Le Maire’s main worries about the cryptocurrency are its implications for crime, including money laundering and the financing of terrorism. Libra is being designed as a stablecoin, which means that it’s backed by currency and companies like Visa, PayPal and Uber, as opposed to bitcoin, which is more volatile and speculative.

Bitcoin 43

Bitcoin Money Laundering Cryptocurrency Ubiquitous 43

PYMNTS

JULY 21, 2020

Crypto enthusiasts proclaim that you can front the best-known players like bitcoin or the most obscure blockchain-backed currencies circulating the world and tap into the future of money. Even bitcoin is accepted by only a relative handful of digital retailers. Dhamodharan said that’s impossible to say from the outset.

Visa 127

Visa Cryptocurrency Blockchain Bitcoin 127

PYMNTS

DECEMBER 12, 2019

My personal conviction is that given developments we see, not so much in bitcoin but in stablecoins projects … we’d better be ahead of the curve because there is clearly demand out there that we have to respond to.”. Are we trying [to] have inclusive finance at no cost?

Digital Currency 52

Digital Currency Money Laundering Central Bank Cryptocurrency 52

PYMNTS

JUNE 14, 2019

The funds will be used to pay for the creation of the coin itself — which is designed to be a stablecoin, pegged to the value of government-issued currencies. That will allow Libra to avoid some of the wild value swings that have become endemic to crypto forms like bitcoin. That problem is common in the crypto world.

Money Laundering 59

Money Laundering Stablecoins PayPal Visa 59

PYMNTS

OCTOBER 1, 2019

Here is something which is being done transparently,” he said, referring to Facebook’s Libra , which will be closely regulated and subjected to anti-money laundering laws. “We Libra will be a stablecoin with its value pegged to the U.S. dollar, unlike crypto projects like bitcoin.

Money Laundering 57

Money Laundering Cryptocurrency Stablecoins Non-Bank 57

CB Insights

SEPTEMBER 7, 2021

Chainalysis and CipherTrace provide cryptocurrency anti-money laundering, anti-fraud, KYC, and other compliance solutions for crypto businesses, financial institutions, and government agencies. Genesis Digital Assets , a US-based bitcoin miner, raised $125M in funding in July 2021.

Blockchain 101

Blockchain NFTs Distributed Ledger Technology (DLT) Multi-Currency 101

PYMNTS

SEPTEMBER 11, 2019

Whether it’s bitcoin, Ethereum, Libra, our message is the same to all of these companies: anti-money laundering and combating the financing of terrorism has to be built into your design from the get-go,” she said. On Wednesday (Sept. The request asks how the coin might be classified and regulated under that country’s rules.

Money Laundering 46

Money Laundering Stablecoins AML Treasury 46

CoinRemitter

JULY 10, 2024

Regulatory challenges: Banks must comply with evolving regulations such as anti-money laundering (AML) and data protection laws. Stablecoins: Stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to assets like fiat currencies. DeFi has the potential to address these challenges.

Finance 40

Finance Stablecoins Interoperability Blockchain 40

PYMNTS

JUNE 24, 2019

We absolutely think stablecoins will play a role in our future, that is [what] we have invested in over the years,” Executive Vice President of Digital Solutions at Mastercard Jorn Lambert told Karen Webster in a recent conversation. The Twin Concerns: Bitcoin And Facebook. It’s a reason to work with regulators. “We

Visa 71

Visa Cryptocurrency Payments Regulations 71

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

Bitcoin 83

Bitcoin Cryptocurrency Office of the Comptroller of the Currency Stablecoins 83

Finovate

JANUARY 17, 2024

With apologies to Dr. Dre … the spot Bitcoin ETFs are here and everybody’s celebratin’! This week on Tales from the Crypto we’re taking a look at the launch and reception of the long-awaited spot bitcoin ETFs. Spot Bitcoin ETFs Have Arrived! The new bitcoin ETFs and their ticker symbols are below.

Bitcoin 59

Bitcoin Stablecoins Cryptocurrency Issuers 59

Fintech News

JANUARY 24, 2024

The move aims to protect against financial crime and loss, particularly in digital fraud, and includes broadening DPT service definitions and enhancing Anti-Money Laundering (AML) protocols such as Customer Due Diligence and transaction monitoring. They broker exchanges of Bitcoin, Ethereum, Solana, and other digital assets.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Stablecoins 98

Global Fintech & Digital Assets

OCTOBER 5, 2023

Stablecoins approved by DFS for issuance in New York by a VCE are automatically added to the Greenlist. The updated list consists of the two most well-known digital assets (Bitcoin and Ether), and six stablecoins issued by New York trust companies.

Stablecoins 52

Stablecoins Procedures Issuers Due Diligence 52

PYMNTS

NOVEMBER 20, 2019

The world seems to be divided into two camps, at least when speaking generally: Those who think bitcoin and other digital currencies provide the promise of transactional efficiency in the coming year, and those who view cryptocurrency as mainly a way for drug dealers, terrorists, fraudsters and others to operate in the shadows.

Travel Rule 49

Travel Rule Rules Digital Currency Cryptocurrency 49

PYMNTS

OCTOBER 21, 2019

It’s not likely that money transfer firms (like Western Union and MoneyGram) would themselves fill the vacuum for the infrastructure that is sorely lacking, given the substantial oversight and regulatory scrutiny focused like a laser on money laundering and AML. In the meantime, the clock is ticking.

Money Laundering 43

Money Laundering Digital Currency Regulations Visa 43

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.

Bitcoin 85

Bitcoin Blockchain Cryptocurrency Innovation 85

PYMNTS

JULY 15, 2019

To ward off the currency speculators that have tended to plague high-profile crypto projects like bitcoin , Libra will be a stablecoin, with its value pegged to the U.S. We have to understand what they really want: protecting consumers, avoiding fraud, avoiding terrorism financing, avoiding money launderers.

Regulations 40

Regulations Cryptocurrency Money Laundering Government 40

PYMNTS

DECEMBER 4, 2020

regulations for bitcoin and other cryptocurrencies are being developed and will be rolled out within six to eight weeks, Brian Brooks, acting comptroller of the currency, told CNBC on Friday (Dec. Runaway bitcoin trading in recent weeks has led to record-breaking prices, with the highest rate since 2017 seen on Monday (Nov.

Cryptocurrency 139

Cryptocurrency Regulations Bitcoin Money Laundering 139