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Cryptocurrency Money Laundering Stablecoins 
Fintech News
DECEMBER 3, 2024
Digital payment token provider dtcpay has announced a strategic shift to exclusively support stablecoins for all its payment services starting in January 2025. The company emphasises the inherent volatility of cryptocurrencies like Bitcoin and Ethereum as a driving force behind this decision.
130 
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. Stablecoin dispensers should be registered in the EU, the ministers said, according to Reuters. “We
145 
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. Cryptocurrency could be picking up some of the slack.” .
139 
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. The FATF said it will review the implementation and impact of its standards by next summer and provide further guidance on stablecoins and virtual assets.
Fintech News
JUNE 19, 2024
Stablecoins have been rising in conversation within the financial ecosystem of Singapore. As the name implies, stablecoins are digital assets designed to maintain a stable value relative to a reference asset, such as the US Dollar or gold.
110 
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
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 
Fintech News
FEBRUARY 27, 2024
2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.
124 
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. The Outlook For Stablecoins .
83 
PYMNTS
FEBRUARY 28, 2020
The BoE has warned about Facebook’s proposed cryptocurrency Libra , as well as other digital coins, and how they must be carefully considered before being approved. Many central banks around the globe are wrestling with the implications of digital currencies and how they will affect a country’s financial health.
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. Ehrlich said stablecoins, including the U.S. This in the wake of the OCC’s Sept.
129 
Finovate
NOVEMBER 6, 2024
The partnership will enable users of Ingenico’s platform globally to accept payments in cryptocurrency. The Singapore-based fintech announced this week that it is planning to expand its crypto offerings in 2025 to include both a stablecoin and an exchange-traded fund (ETF) product.
64 
PYMNTS
DECEMBER 11, 2020
Money laundering and terrorist financing also go on the list these days, perhaps like never before. Money laundering is a global plague, with the estimated amount in a given year ranging from $800 billion to $2 trillion — or anywhere from 2 percent to 5 percent of the global gross domestic product (GDP),” the new Tracker states.
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
JULY 21, 2020
Crypto boosters have spent the better part of the past decade promoting the idea that great fiat-currency disruptions are coming care of blockchain and literally hundreds of thousands of variations of cryptocurrency circulating in the world today. Or at least they didn’t until now. Crypto’s Path To Spendability.
127 
Fintech News
FEBRUARY 21, 2024
In the ever-evolving cryptocurrency market landscape, 2023 marked a pivotal year that saw significant shifts in the nature and scope of illicit activities. In addition, stablecoins have emerged as the preferred medium for a significant portion of these illicit activities, driven by their perceived stability and ease of use.
107 
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. Over the summer, the U.S.
103 
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 2, 2019
Dutch ministers have revealed plans to regulate cryptocurrencies in order to prevent money laundering in the country. As part of the plan, the ministers propose tightening the regulation of cryptocurrency services and initial coin offerings (ICOs), as well as boosting investments in projects to prevent crimes.
CB Insights
OCTOBER 29, 2020
This approach relies on layers of middlemen, contributing to inefficiencies and even creating opportunities for foul play like money laundering and corruption. Some popular cryptocurrency exchanges, including Bitfinex, have also begun to expand into the securities domain. Interested in learning more about Blockdata and DLT?
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. Cryptocurrency has been in the news a lot lately on Facebook’s announcement that it was creating its own payment system called Libra.
59 
PYMNTS
JULY 7, 2020
Regulators are taking in an interest in stablecoins, with the Financial Action Task Force (FATF) noting in a report the digital currencies need to adhere to norms to offer protection from the terrorism financing and money laundering, Bloomberg reported.
65 
CB Insights
SEPTEMBER 7, 2021
For example, online exchanges are making cryptocurrency trading and investing more accessible to consumers. Exchanges: These companies provide platforms for buying, selling, and trading cryptocurrencies. Tokens & cryptocurrencies: These companies provide digital tokens, currencies, and stablecoins powered by blockchain networks.
101 
Global Fintech & Digital Assets
JANUARY 8, 2024
The proposed regulatory framework would create substantive obligations on issuers of fiat-referencing stablecoins to safeguard the public. The HKMA followed with its own press release announcing a future sandbox arrangement for stablecoin issuers.
59 
PYMNTS
APRIL 16, 2020
Libra will now provide stablecoins based on a roster of separate currencies to be determined. It noted stablecoins based on the euro, the sterling and the dollar as potential cases. The organization outlined 10 recommendations for global stablecoins (GSC) that offer a worldwide and unified approach to stablecoin oversight.
PYMNTS
JUNE 20, 2019
News of the launch of Facebook cryptocurrency Libra has highlighted how the U.S. Powell also said that regulators have jurisdiction to enforce anti-money laundering regulations on business that operate within the digital sphere. “We government will respond to the introduction of new digital currencies.
67 
PYMNTS
FEBRUARY 19, 2020
The IRS has invited cryptocurrency groups to meet for a regulatory summit March 3 to discuss how the two can work together going forward, published reports said Tuesday (Feb. The IRS has been trying to combat cryptocurrency tax evasion, and the agency has been working on establishing more concrete guidelines for digital currencies.
67 
Fintech News
JANUARY 24, 2024
On January 14, 2019, the Singapore Parliament passed its comprehensive Payment Services Act (PS Act), replacing the former Payment Systems Oversight Act and Money-Changing and Remittance Businesses Act to broaden the scope of regulated payment activities to include emerging trends and industries like digital assets and cryptocurrencies.
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
64 
PYMNTS
OCTOBER 12, 2020
The fear is that stablecoins could be used for money laundering and terrorist financing, among other crimes.
80 
The Fintech Times
FEBRUARY 27, 2024
“The most effective AI fraud prevention solutions integrate insights from fraud prevention, anti-money laundering (AML) and cybersecurity risk identification capabilities to address evolving threats or regulatory requirements. “There is, however, a competition emerging between CBDCs and stablecoins.
The Fintech Times
NOVEMBER 27, 2024
By providing legislative clarity to both stablecoins and staking, the UK has greenlit the asset class for investment opportunities and widespread adoption. It will not work perfectly the first time, but if regulators work closely with fintech innovators, they can achieve a system that is reliable and adapted to the future of cryptocurrency.”
112 PYMNTS
OCTOBER 3, 2019
Facebook’s proposed cryptocurrency Libra has had its fair share of scrutiny and regulatory issues, and now the Financial Times is reporting that PayPal is very close to leaving the 28-company coalition meant to help Libra gain legitimacy and come to fruition. If PayPal leaves, it would be a blow to the proposed stablecoin and its legitimacy.
68 
PYMNTS
OCTOBER 26, 2020
The gambling activities involved the tether stablecoin. The arrests came over alleged money laundering activity where “whitewashing" was implemented to obscure funds obtained from illegal online gambling. The total amount involved in the reported laundering is around 120 million yuan, or $17.95
67 
PYMNTS
DECEMBER 18, 2019
18) outlined key risks associated with cryptocurrency in general and Facebook’s Libra in particular. At the start of Benoît’s ECB term, bitcoin’s market capitalization was small, and only a handful of cryptocurrencies existed. Federal Reserve Gov. Lael Brainard on Wednesday (Dec.
52 
CB Insights
NOVEMBER 5, 2020
Payments: This category includes companies working on tech like payment currencies, stablecoins (cryptocurrency pegged to the value of a non-volatile asset like the dollar), and real-time gross settlement (RTGS) systems that can enable transactions within a DLT-based capital markets framework.
Stax
APRIL 3, 2025
They can range from traditional payments, such as credit/debit cards and ACH payments , to modern alternative methods, such as digital wallets, mobile transactions, Buy Now Pay Later (BNPL), and cryptocurrency. High-risk industry – CBD, adult, gambling, cryptocurrency, and online pharmacies are considered high-risk businesses.
PYMNTS
JULY 9, 2019
India, Asia’s third-largest economy, remains skeptical about Facebook’s proposed cryptocurrency Libra and has said that it won’t just allow the coin into the country, according to a report by Bloomberg. But whatever it is, it would be a private cryptocurrency, and that’s not something we have been comfortable with.”.
PYMNTS
OCTOBER 3, 2019
Facebook’s proposed cryptocurrency Libra has had its fair share of scrutiny and regulatory issues, and now the Financial Times is reporting that PayPal is very close to leaving the 28-company coalition meant to help Libra gain legitimacy and come to fruition. If PayPal leaves, it would be a blow to the proposed stablecoin and its legitimacy.
60 
PYMNTS
OCTOBER 1, 2019
Cryptocurrency pursuits conducted without supervision are more concerning to Switzerland than Facebook’s Libra coin, Reuters reported on Tuesday (Oct. 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
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
40 
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.
49 
PYMNTS
OCTOBER 20, 2019
David Marcus, CEO of Facebook’s wallet service Calibra , said that Libra could use national currency-pegged stablecoins like a dollar stablecoin, rather than the synthetic one it initially proposed, Reuters reported on Sunday (Oct. Marcus said he was not suggesting currency-pegged stablecoins were the group’s new preferred option.
40 
PYMNTS
JUNE 14, 2019
According to reports out in The Wall Street Journal this morning, Facebook has found some big-name backers for its Libra cryptocurrency project set to debut next year. 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.
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