Global Fintech & Digital Assets

NOVEMBER 2, 2023

Yatter , and Deric Behar On October 19, 2023, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a Notice of Proposed Rule Making (NPRM) that would designate as a “primary money laundering concern” all non-US convertible virtual currency [1] mixing (CVC mixing). By Parag Patel , Eric S.

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PYMNTS

OCTOBER 19, 2020

sanctions can encompass prohibitions on operations with cryptocurrencies. The bank claims that a digital ruble could make digital payments less expensive, increase the ease of international payments and relax the pressure on current payment systems. However, CoinDesk notes that U.S. 19) announcement.

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PYMNTS

MAY 19, 2020

has been named general counsel to the Libra Association , a Geneva-based group founded by Facebook to launch the social media company’s digital currency, the organization announced Tuesday (May 19). Kennedy and late Supreme Court Justice Lewis F. He also headed financial crime compliance for Merrill Lynch.

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PYMNTS

DECEMBER 11, 2020

Unease with automated identity solutions is understandable but increasingly irrelevant as the scale, scope and sheer popularity of digital commerce necessitates automation. Defending New Digital Currencies. The zeal with which crooks are now targeting cryptocurrencies signals the need for additional layers of security.

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The Fintech Times

FEBRUARY 24, 2024

Many cryptocurrency exchanges (CEXs) that facilitate trades between users of various digital currencies have often come under fire for mismanaging money, or engaging in unlawful activity. Meanwhile, the US boasts more top CEXs registered with the Financial Crimes Enforcement Network (FinCEN) than any other country.

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PYMNTS

JULY 15, 2019

The top official overseeing Facebook’s Libra cryptocurrency told U.S. Libra Head David Marcus said the creation of Facebook’s cryptocurrency is not intended to compete with principal currencies and won’t interfere with monetary policy, Reuters reported. Monetary policy is properly the province of central banks.”.

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PYMNTS

MARCH 3, 2020

Justice Department (DOJ) with laundering over $100 million worth of cryptocurrency that was previously hacked by North Korean fraudsters, the DOJ said on Tuesday (March 3). and unsealed on Monday (March 2), Tian Yinyin and Li Jiadong allegedly laundered cryptocurrency stolen by North Korean hackers between December 2017 and April 2019.

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Finance Magnates

JANUARY 16, 2023

Some states may also require businesses to obtain a license from the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of Treasury. The license is used by businesses such as money transfer companies, payment processors, and digital currency exchanges. Faisal Khan , CEO of Faisal Khan LLC.

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PYMNTS

SEPTEMBER 30, 2020

FinCEN Director Tells Banks To Look Out For Crypto Fraud. Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco said that banks have to be cautious about digital currency risks, according to remarks scheduled to be provided at the ACAMS AML digital conference on Sept.

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BitPay

MAY 25, 2023

A growing number of businesses have begun accepting cryptocurrency payments to meet the demands of their crypto-using customers. Fortunately, today it’s easier than ever for B2B businesses to start taking cryptocurrency in exchange for their goods and services, with no crypto knowledge required and no complicated integrations.

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PYMNTS

JULY 1, 2019

Despite the obvious regulatory hurdles that Facebook’s recently announced cryptocurrency is facing, the company is moving forward with its plan to provide the world with an accessible global currency, according to reports. Financial Crimes and Enforcement Network (FinCEN). It’s only going to get worse.”.

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CB Insights

MAY 8, 2018

While the prices of cryptocurrencies and cryptoassets have fallen from their 2017 peaks, equity investment into blockchain startups is on pace to hit all-time highs in 2018. In still other cases, accredited investors buy tokens via cryptocurrency purchase agreements. The encrypted messaging service raised $1.7B End of story.”

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Payments Source

APRIL 27, 2018

Financial institutions engaged in virtual currency markets face a number of risks — proceeding carefully is justified.

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PYMNTS

JANUARY 14, 2021

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.” As reported by Reuters this week, Lagarde said at a conference sponsored by the newswire that bitcoin should be regulated — worldwide.

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PYMNTS

JANUARY 21, 2021

The Biden Administration has a number of issues to tackle beyond the coronavirus, namely cryptocurrency, cybersecurity, national security threats, and money laundering. Justice Department recently raised alarms about cryptocurrencies and national security threats.

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FICO

APRIL 19, 2021

Last month, too, JPMorgan Chase launched a structure note offering to give clients a way to gain exposure to Bitcoin and other cryptocurrencies. In an interesting choice of words, Forbes refers to the offering as a potential “gateway drug,” presumably to direct cryptocurrency investing. And with that comes regulation.

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