PYMNTS

JUNE 17, 2020

For instance, Nikkei Asian Review recently reported that Chinese officials are mulling developing an “East Asia digital currency” in what might be a new front in the race among nations to issue fiat rendered in bits and bytes. The idea of creating a digital coin backed by a basket of multiple currencies isn’t actually new.

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Digital Currency Central Bank CBDC Deposit Account 89

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

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 26, 2021

But step beyond bitcoin and enter the world of cryptocurrencies approaching mainstream acceptance. At present, he said, a number of factors have inhibited the adoption of bitcoin as a transactional currency, including the fact that it’s expensive and can be very slow. Bitcoin gets all the headlines.

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Cryptocurrency Bitcoin Blockchain Digital Currency 102

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

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

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

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 85

Financial Literacy Cryptocurrency Digital Currency Accreditation 85

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, 2019

China is planning to launch a digital currency in early 2020 that will make allowances for privacy, a senior central bank official said on Tuesday (Nov. The country is laying the groundwork to be the first nation to launch a digital currency and will balance privacy concerns with government oversight, Reuters reported.

Digital Currency 40

Digital Currency Privacy Central Bank NOV 40

PYMNTS

NOVEMBER 10, 2020

PayPal is opening its network to allow consumers to shop using cryptocurrency. Webster noted that bitcoin has been around for a decade, and while the conventional wisdom had been that the digital offering would be used far and wide as a payment transacting conduit, those predictions have been wildly off the mark.

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Cryptocurrency Blockchain Bitcoin Online and Mobile Banking 129

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 Government Governance 73

PYMNTS

NOVEMBER 12, 2019

12) that central banks have no reason to issue digital currency. He added that no organization can offer sovereign credit backing that way national currencies do. Greenspan’s remarks come on the heels of China’s announcement that it would launch a digital currency in early 2020. Former U.S. What comes next?

Digital Currency 40

Digital Currency Central Bank Fed Federal Reserve 40

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

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

FICO

DECEMBER 17, 2020

Cryptocurrency exchange rates have skyrocketed in the past month. As digital currencies grow, criminals are taking advantage of the emerging technology. According to a recent report , the total of cryptocurrency related frauds and thefts stands at a staggering $7.69b. This includes $2.8 by Sebastian Hetzler.

Cryptocurrency 52

Cryptocurrency Risk Financial Crimes Crime 52

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

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 Stablecoins Central Bank Money Laundering 95

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

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

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. They also claim it could decrease money laundering and tax offenses.

Digital Currency 40

Digital Currency Central Bank Distributed Ledger Technology (DLT) Money Laundering 40

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

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 Regulatory Compliance 134

CB Insights

OCTOBER 13, 2021

Elliptic , an AI-enabled cryptocurrency surveillance service provider, has raised $60M in a Series C. This round drew participation from SoftBank Group, AlbionVC, Digital Currency Group, and Evolution Equity Partners, among others. How’s the company performing?

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Compliance Blockchain Transactions Money Laundering 65

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

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

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

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

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

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 97

APACS Regulations Stablecoins Cryptocurrency 97

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.

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

PYMNTS

MARCH 27, 2017

As far as cryptocurrencies have come in recent years, a number of security and fraud risk elements still remain. Chainalysis collaborates with Europol to link digital identities to digital currency, helping banks and law enforcement investigate suspicious activity. “We

Cryptocurrency 44

Cryptocurrency Law Enforcement Money Laundering Security 44

PYMNTS

JULY 27, 2018

To enable its customers to buy and sell five digital currencies, TransferGo has rolled out a crypto trading facility. We’ve launched this cryptocurrency trading facility in response to demand from our user base,” said TransferGo Founder and CEO Daumantas Dvilinskas.

Cryptocurrency 43

Cryptocurrency Money Laundering Real Time Payments Bitcoin 43

The Paypers

OCTOBER 27, 2017

(The Paypers) A new policy document has been released by the UK government’s economic and finance ministry , stating that cryptocurrencies like Bitcoin pose “low risk” for terrorist financing.

Money Laundering 28

Money Laundering Digital Currency Treasury Bitcoin 28

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.

Central Bank 105

Central Bank Digital Currency CBDC Cross-Border Payments 105

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