PYMNTS

AUGUST 16, 2020

China’s Ministry of Commerce is moving forward with its plan for a digital currency, according to a report by The Wall Street Journal (WSJ).

Digital Currency 134

Digital Currency Bitcoin Money Laundering Consumer Protection 134

The Payments Association

MARCH 19, 2025

The growing role of digital assets in payments The way we process payments has changed drastically in the last decade. Notably, the rise of cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) are transforming the digital payments landscape.

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Cross-Border Reconciliation Compliance Payments 88

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. From January through May cryptocurrency thefts, hacks and frauds totaled $1.4 From January through May cryptocurrency thefts, hacks and frauds totaled $1.4

Money Laundering 56

Money Laundering Stablecoins Cryptocurrency Digital Currency 56

PYMNTS

JUNE 24, 2019

Amid the announcement of a new cryptocurrency – that would be Libra – the Financial Action Task Force (FATF), which operates as global regulatory firm based in Paris with a membership roster of countries such as China and the United States, has said it will boost its examination of digital currencies with an eye on money laundering.

Money Laundering 51

Money Laundering Regulations Office of the Comptroller of the Currency Multi-Currency 51

PYMNTS

MARCH 16, 2020

Intercontinental Exchange, the parent firm of Bakkt, had first made it known in the summer of 2018 that Starbucks was eyeing the retail use of digital currency payments. The Bank of Russia, however, reportedly supports the idea of digital financial assets and had gone so far as having an experimental tokenization project.

Bitcoin 97

Bitcoin Digital Currency Central Bank Money Laundering 97

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.” She pointed to the crypto’s use in criminal activity. She went on to say that “there has to be regulation.

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Money Laundering Bitcoin Regulations Central Bank 61

PYMNTS

FEBRUARY 28, 2020

28) that digital currencies could potentially dry up lending for banks and affect the economy as a whole, according to a report by Reuters. Many central banks around the globe are wrestling with the implications of digital currencies and how they will affect a country’s financial health.

Digital Currency 95

Digital Currency Central Bank Stablecoins Money Laundering 95

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.

Cryptocurrency 78

Cryptocurrency Blockchain Money Laundering Digital Currency 78

Payments Source

SEPTEMBER 11, 2019

The “highest international anti-money laundering standards” would also need to be applied, it said in a statement on Wednesday. Swiss financial regulator Finma said Libra would need a payment system license and would be subject to additional rules to take “bank-like” risks into account.

Money Laundering 70

Money Laundering Rules Regulations Risk 70

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. million) onto another cryptocurrency exchange and tried to withdraw the money through a bitcoin ATM. He also deposited 230 bitcoins ($1.8

Digital Currency 67

Digital Currency Bitcoin AML Cryptocurrency 67

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.

Digital Currency 121

Digital Currency Central Bank Federal Reserve Money Laundering 121

PYMNTS

APRIL 26, 2019

The Indian government has drafted a bill that would ban cryptocurrencies and attempt to regulate any official digital money, according to reports. . The idea is to ban the “sale, purchase and issuance of all types of cryptocurrency,” according to an unnamed government source cited by The Economic Times. .

Cryptocurrency 73

Cryptocurrency Money Laundering Governance Government 73

PYMNTS

OCTOBER 11, 2018

CipherTrace noted in a report that digital currency theft has nearly topped $1 billion over the first three quarters of the year at $927 million, Reuters reported. The organization noted that digital currencies are not an effective store of value, unit of account or payment means.

Digital Currency 73

Digital Currency Bitcoin Money Laundering AML 73

Finovate

NOVEMBER 6, 2024

The partnership will enable users of Ingenico’s platform globally to accept payments in cryptocurrency. “With this level of compliance automation, Boerse Stuttgart Digital can onboard banks, brokers, and asset managers seeking to unlock crypto trading faster, thus accelerating growth.”

Blockchain 64

Blockchain Cryptocurrency SWIFT Regulatory Compliance 64

PYMNTS

DECEMBER 11, 2020

Money laundering and terrorist financing also go on the list these days, perhaps like never before. PYMNTS December 2020 AML/KYC Tracker® done in collaboration with Trulioo probes the heightened fraud climate accompanying the mobile-digital shift, zeroing in on key aspects of prevailing in the digital fraud wars.

Money Laundering 87

Money Laundering AML Cryptocurrency Verification 87

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.

Bitcoin 83

Bitcoin Cryptocurrency Office of the Comptroller of the Currency Consumer 83

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. The difference with cryptocurrency [is] that it's a lot more transparent,” he said. “The

Bitcoin 117

Bitcoin Cryptocurrency PayPal Privacy 117

PYMNTS

DECEMBER 12, 2019

The head of the European Central Bank (ECB), Christine Lagarde, said she wants a task force to identify clear objectives regarding the ECB’s proposed digital currency initiative by the middle of next year, according to a report by Reuters. Lagarde also said the ECB should be “ahead of the curve” on the issue.

Digital Currency 52

Digital Currency Money Laundering Central Bank Cryptocurrency 52

PYMNTS

OCTOBER 3, 2019

While Philadelphia Federal Reserve Bank President Patrick Harker believes it’s “inevitable” that central banks will eventually issue digital currencies, he warned that the United States shouldn’t be first in line. He admitted that when it comes to the future of the Fed, digital currency will most likely play a part. “I

Digital Currency 55

Digital Currency Fed Federal Reserve Central Bank 55

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.

Money Laundering 43

Money Laundering Finance Cryptocurrency Digital Currency 43

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. The rules effectively require financial institutions to report such digital transactions in much the same way they have been required to report cash transactions since 1970.

Treasury 141

Treasury Rules Bitcoin Ransomware 141

Fintech News

JULY 3, 2024

In the heart of Southeast Asia, a small island nation is making giant strides in digital currencies. Singapore, long known for its financial prowess and technological innovation, has emerged as an unexpected leader in cryptocurrency adoption. But what drives this remarkable adoption rate?

Financial Literacy 106

Financial Literacy Cryptocurrency Digital Currency Money Laundering 106

PYMNTS

DECEMBER 4, 2019

For China: Digital currency, yes. The price of bitcoin, that marquee name in cryptocurrencies, has plummeted in the last several weeks, down roughly 20 percent at this writing to a recent $7,400, where the price had been more than $9,400 a month ago. But not bitcoin. Blockchain? But not bitcoin.

Digital Currency 55

Digital Currency Bitcoin Money Laundering Cryptocurrency 55

PYMNTS

JUNE 10, 2020

The Bank of Ghana continues to consider the creation of a digital currency, GhanaWeb reported. Dr. Maxwell Opoku-Afari, the bank’s first deputy governor, reportedly said during a digital workshop that the bank remains steadfast in facilitating innovation and piloting ideas like a central bank cryptocurrency.

Digital Currency 53

Digital Currency Accounts Money Laundering Central Bank 53

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.

Federal Reserve 103

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

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. Establishing Trust And Confidence.

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Treasury Cryptocurrency Stablecoins Fincen 129

PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. ius noted, this is often because the heart of the cryptocurrency industry is often at odds with the nuances of regulation.

Cryptocurrency 113

Cryptocurrency Cross-Border Compliance AML 113

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.

Stablecoins 88

Stablecoins Cryptocurrency Central Bank Money Laundering 88

PYMNTS

OCTOBER 27, 2019

A research team was established in 2014 by China’s central bank to explore launching a digital currency and increase China’s control of the money supply, Reuters reported on Saturday (Oct. David Marcus , the executive in charge of Facebook’s proposed digital currency, said if Libra fails, the U.S.

Digital Currency 43

Digital Currency Laws Cybersecurity Money Laundering 43

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.

Central Bank 64

Central Bank Digital Currency Money Laundering CBDC 64

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space.

Procedures 46

Procedures Cryptocurrency Regulations AML 46

PYMNTS

JUNE 21, 2019

said it was going to increase scrutiny over digital currencies to make sure they weren’t being used to launder money, according to a report by Reuters. The firm plans to draft rules and oversight for cryptocurrency firms to prevent abuse. However, there are many ways to remain fairly anonymous.

Cryptocurrency 55

Cryptocurrency Rules Digital Currency Checks 55

PYMNTS

JUNE 20, 2019

News of the launch of Facebook cryptocurrency Libra has highlighted how the U.S. government will respond to the introduction of new digital currencies. Powell also said that regulators have jurisdiction to enforce anti-money laundering regulations on business that operate within the digital sphere. “We

Regulations 67

Regulations Money Laundering Federal Reserve Digital Currency 67

PYMNTS

NOVEMBER 29, 2020

Facebook 's digital currency, Libra , could launch by January, but in a "limited format," according to officials, as reported by Financial Times (FT). Libra, which has been in the works for over a year, initially planned to roll out one synthetic coin backed by a multitude of currencies.

Money Laundering 84

Money Laundering Settlement Digital Currency Regulations 84

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.

APACS 120

APACS Regulations Stablecoins Cryptocurrency 120

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.

Scams 71

Scams Money Laundering Digital Currency Cryptocurrency 71

PYMNTS

SEPTEMBER 15, 2020

India intends to propose legislation prohibiting digital currency trading, while other economies in Asia have opted to regulate the market, Bloomberg Qint reported. Blockchain will be encouraged by the federal government, which is not enthusiastic about digital currency trading, according to two unnamed sources in the report.

Bitcoin 67

Bitcoin Digital Currency Money Laundering Cryptocurrency 67