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Central Bank Cryptocurrency Money Laundering 
PYMNTS
SEPTEMBER 13, 2020
Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported. In a joint statement Friday (Sept. The association declined to comment, Reuters reported.
145 
Fintech News
MARCH 24, 2025
Cryptocurrency fraud is declining in Asia-Pacific (APAC), driven by advanced technology adoption and stricter regulatory oversight. According to a new report by Sumsub, crypto fraud rates declined by a remarkable 23% between 2023 and 2024, positioning APAC as a leader in combating crypto fraud. in 2023 to 2% in 2024.
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Clearly Payments
AUGUST 29, 2024
Central Bank Digital Currencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. With the rise of digital payments, cryptocurrencies, and fintech innovations, CBDCs represent a new frontier in the evolution of money.
105 
PYMNTS
NOVEMBER 10, 2020
PayPal is opening its network to allow consumers to shop using cryptocurrency. As cryptos have garnered more attention in financial services, naturally, governments and central banks have thrown their hats into the ring — and thus digital fiat is seriously under consideration. Square bought $50 million of bitcoin.
129 
PYMNTS
MAY 21, 2020
The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A A central entity may implement a monetary policy and issue currency.
Payments Source
APRIL 23, 2018
Iran’s central bank prohibited domestic financial institutions from handling virtual currencies, citing money-laundering concerns, as it seeks to ramp up control over the nation’s currency markets.
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The Payments Association
MARCH 19, 2025
Notably, the rise of cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) are transforming the digital payments landscape. These innovations offer businesses and consumers a way to move money faster, cheaper, and more securely.
88 
PYMNTS
JANUARY 14, 2021
At least it seems so, if recent comments by European Central Bank President Christine Lagarde are any indication. As quoted by Reuters, she termed the cryptocurrency a “highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity.”
PYMNTS
FEBRUARY 27, 2020
Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said that before they issue their own digital currencies, central banks around the world should attempt to get a better understanding of the pros and cons of the process, according to a report by Reuters. They will also confer with colleagues overseas on the topic.
64 
PYMNTS
JULY 10, 2020
Stablecoins, the virtual currencies which seek price stability, could be the next target for money laundering and terrorist financing, a report found. If stablecoins were to become widespread, it could potentially lead to new risks regarding money laundering and terrorist financing,” FATF President Xiangmin Liu said at the time. “It
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.
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. Jens Weidmann said that if the new currency becomes widely used, it could undermine banks. This might disrupt transaction banking and financial market intermediation.”.
59 
PYMNTS
FEBRUARY 28, 2020
The Deputy Governor of the Bank of England (BoE), Jon Cunliffe, said on Friday (Feb. 28) that digital currencies could potentially dry up lending for banks and affect the economy as a whole, according to a report by Reuters. The Central Bank of China is not a part of the group, although it is releasing a digital currency of its own.
PYMNTS
MARCH 16, 2020
Alexey Guznov, the Bank of Russia’s head of legal office, said in an interview with a news agency in the country that the institution didn’t think the trading and issuance of digital currency should be legal in its borders. The individual received a penalty of $1,570 and jail time of three years.
97 
PYMNTS
NOVEMBER 12, 2020
Christine Lagarde , European Central Bank (ECB) president, said the ECB could make its own digital currency within a few years, which could change up the eurozone financial sector drastically, Bloomberg reported. China, meanwhile, is also advancing plans for a central bank digital currency (CBDC), Bloomberg reported.
121 
PYMNTS
NOVEMBER 4, 2020
Toward that end, and more mainstream use cases, getting the rails in place to speed and streamline transactions, regardless of the cryptocurrency used, remains key. As spotlighted in this space , Ternio said it has joined Visa’s Fast Track as a cryptocurrency-focused enablement partner.
83 
PYMNTS
JUNE 29, 2020
The European Union (EU) is preparing to update its cryptocurrency rules that could make it more difficult for stablecoin projects, such as Facebook Inc.’s Last fall, the Libra Association petitioned the Swiss Financial Market Supervisory Authority ( FINMA ) for a Swiss payment system license for its planned cryptocurrency.
88 
PYMNTS
OCTOBER 14, 2020
The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept.
129 
Fintech News
FEBRUARY 27, 2024
TRM Labs’ Global Crypto Policy Review & Outlook 2023/24 delves into the advancements in regulation as well as the regulatory challenges faced by major APAC markets, shedding light on their unique strategies and key developments in navigating the complex world of cryptocurrency.
130 
PYMNTS
JULY 16, 2019
Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat. In a press conference on Monday (July 15), Mnuchin warned that Libra “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.”.
75 
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. While few dispute the future potential viability of cryptocurrencies or stablecoins backed by the U.S.
117 
PYMNTS
JANUARY 26, 2021
Signal is exploring the idea of adding cryptocurrency payments into its messaging app by integrating MobileCoin , a cryptocurrency supported by the Stellar blockchain, Platformer reported. Signal CEO Moxie Marlinspike “played down,” the cryptocurrency developments, telling Platformer it was only some “design explorations.”. “We
PYMNTS
APRIL 11, 2018
The central banks of Japan and Hong Kong are interconnecting their systems to support faster cross-border payments and trade between the two markets, according to Reuters reports on Tuesday (April 10). The Bank of Japan announced the plans that reports said may be the first of their kind by any central bank.
46 
PYMNTS
JUNE 1, 2018
Estonia has shelved plans to develop its own national cryptocurrency after the idea prompted criticism by banking authorities and Mario Draghi, the Italian economist and president of the European Central Bank. Police in Estonia said more money laundering could take place this year with the closure of Russian banks.
PYMNTS
JUNE 17, 2020
Meanwhile, European Central Bank (ECB) board member Yves Mersch said at a recent virtual conference that about 80 percent of 66 central banks queried by the Bank of International Settlements were already working on central bank digital currencies (CBDC).
PYMNTS
DECEMBER 26, 2019
The Bank of Russia has been testing stablecoins that are attached to real assets, according to reports. The head of the bank, which is Russia’s central bank, said just because they’re testing the coins doesn’t mean they will eventually turn into a money substitute. “We Meanwhile, on Jan.
52 
PYMNTS
JULY 8, 2019
Many traditional banking institutions and governments have shown skepticism, silence and resistance to Facebook’s proposed cryptocurrency Libra, according to reports. . Though the currency could potentially alter the financial landscape for good, many banks have simply not responded to the issue.
81 
PYMNTS
SEPTEMBER 4, 2019
Cryptocurrency firms doing business in the Netherlands will soon be required to register with Dutch Central Bank , according to CoinDesk. The move comes as the European Union has passed tougher anti-money laundering (AML) laws. 10, 2020. “By
49 
PYMNTS
FEBRUARY 28, 2018
Taiwan’s central bank is looking into implementing blockchain technology in order to improve its operations. 2017, Taiwan’s Financial Supervisory Commission Chairman Wellington Koo spoke before parliament, asserting that Taiwan should take its cues from Japan, which provides licenses to cryptocurrency exchanges.
42 
Fintech News
JULY 3, 2024
Singapore, long known for its financial prowess and technological innovation, has emerged as an unexpected leader in cryptocurrency adoption. From the bustling streets of Marina Bay to the fintech hubs in the Central Business District, cryptocurrency has woven itself into the fabric of Singaporean life.
Fintech Review
DECEMBER 31, 2024
The Central Bank of Kenya introduced regulations enabling mobile money systems like M-Pesa to thrive. This regulatory flexibility allowed non-banking institutions to offer financial services. Brazils Central Bank actively engages with international regulators while addressing domestic challenges.
111 
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. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Dollars Done Digitally.
103 PYMNTS
FEBRUARY 24, 2017
Though the cryptocurrency flirted with higher numbers, bitcoin mostly settled just above or below $1,000 for the first half of the month — likely while investors waited to see how the whole Chinese exchange investigation storyline would pan out. The cryptocurrency’s maximum value, reached on Nov. On Thursday (Feb.
77 
PYMNTS
MAY 6, 2020
Irish bitcoin ATM operator Boinnex found itself facing roadblocks from Allied Irish Banks (AIB), which shut down its account and said it didn’t want to deal with an unregulated form like cryptocurrency, according to CoinDesk. Cryptocurrency still isn’t recognized by the Central Bank of Ireland as a legitimate form of payment.
70 
PYMNTS
JUNE 20, 2019
News of the launch of Facebook cryptocurrency Libra has highlighted how the U.S. The Wall Street Journal is reporting that the Federal Reserve and the Senate Banking Committee will both closely scrutinize the implementation of Libra. government will respond to the introduction of new digital currencies.
67 
PYMNTS
MARCH 19, 2018
Mastercard ’s Co-President of Asia-Pacific Ari Sarker said the payment company would happily look into facilitating the use of digital currencies that are issued by central banks around the world. By reclassifying such purchases as cash transactions, more fees are levied when customers purchase cryptocurrency.
41 PYMNTS
NOVEMBER 12, 2018
Over the past two years, exit scammers have stolen more than $100 million worth of cryptocurrency. In an effort to protect its residents from crypto scams, the Central Bank of the Bahamas (CBOB) has released a regulatory framework before it integrates cryptocurrency-based assets into its services.
71 
PYMNTS
NOVEMBER 12, 2019
12) that central banks have no reason to issue digital currency. Philadelphia Federal Reserve President Patrick Harker said in early October it is “ inevitable ” that central banks including the Fed will issue digital currency. Former U.S. Federal Reserve Chairman Alan Greenspan said Tuesday (Nov.
PYMNTS
DECEMBER 13, 2019
With the belief that it could cause instability within the country’s financial system, the government of Switzerland spoke against making a central bank digital currency available to the public. The SNB and the Bank for International Settlements (BIS) are said to be exploring the widespread use of digital central bank currencies.
PYMNTS
JANUARY 2, 2020
A European Central Bank (ECB) policy maker is urging banks in the area to find alternatives to Facebook’s proposed cryptocurrency Libra, according to a report by Bloomberg. He also said the bank doesn’t yet need to develop its own currency. Last month , Federal Reserve Gov.
PYMNTS
JUNE 9, 2019
G20 finance ministers and central bank governors have requested that the Financial Stability Board ( FSB ), as well as global standard-setting organizations, work together to monitor risks around crypto assets. The incident happened when a customer was intentionally withdrawing money and the machine started tossing out the money.
72 
PYMNTS
JANUARY 20, 2021
The European Commission and the European Central Bank (ECB) have released a joint statement saying they’re considering beginning work on a digital euro. The timeline involves concerns over money laundering and privacy, along with the technology involved. Now that a public consultation that took place Jan.
68 
PYMNTS
OCTOBER 12, 2020
The fear is that stablecoins could be used for money laundering and terrorist financing, among other crimes. The G7 draft also notes that a number of G7 authorities “are exploring the opportunities and risks associated with central bank digital currencies (CBDCs).”.
80 
PYMNTS
DECEMBER 2, 2020
Facebook's cryptocurrency project on Tuesday (Dec. As part of its effort to reassure regulators, the Facebook-backed cryptocurrency project also stressed that it will “proceed only upon receiving regulatory approval, including a payment systems license for the operational subsidiary of the Association from FINMA.”.
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