fatf

Former FATF Members Join Board of Advisors at Blockchain Company

Former members of the Financial Action Task Force (FATF) have joined the Shyft Network’s advisory team. In a press release shared with Cointelegraph on Oct. 28, public blockchain protocol Shyft Network announced that it was adding the former head of the Canadian delegation to the FATF, Josee Nadeau, and former FATF executive secretary Rick McDonell …

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FATF Starts Checking How Well Countries Implement Crypto Standards

<header class=”article__header”> </header> <strong>The Financial Action Task Force (FATF) has agreed on how it will assess whether countries have taken the necessary steps to implement the crypto-related requirements. “Given the global nature of the virtual asset industry, it is essential that countries implement these requirements swiftly,” the FATF emphasized.</strong> Also read: Where US Regulators Stand …

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How Anti-Money-Laundering Rules Hinder Libra’s Mission to Reach the Unbanked

This is the second of a two-part series on why non-profits are participating in the Facebook-initiated Libra Association. For the first story in the series click here. The Takeaway: The Libra Association is thinking of radical approaches to reach the unbanked in certain locations, including a “step-ladder” approach to know-your-customer (KYC) regulations. The Financial Action …

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Bittrex Adopts Chainalysis KYT Software to Flag Suspicious Activity

Bittrex, the U.S. crypto exchange, has adopted blockchain compliance firm Chainalysis’ real-time monitoring software for transactions to flag suspicious activity across many of its leading coins, Bittrex executives told CoinDesk. Bitcoin, ETH, bitcoin cash, litecoin, dai, gemini, among other cryptocurrencies traded on Bittrex are covered by the new software, known as Chainalysis KYT (Know Your Transaction). …

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OKEX Korea Drops 5 Privacy Coins Citing FATF Rules

Regulatory pressure on cryptocurrency exchanges to stop providing users with access to so-called privacy coins is growing. The South Korean arm of the Malta-based OKEX exchange announced early on Monday that it is to delist five cryptocurrencies that provide extra privacy features for users. From Oct. 10, the exchange will no longer support trading in …

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Crypto Regulations Are Changing Worldwide to Comply With FATF Standards

<header class=”article__header”> </header> <strong>Governments worldwide are changing the way they regulate crypto assets to comply with the global cryptocurrency standards set by the Financial Action Task Force (FATF). Some are amending existing laws, while others are creating a new system to cooperate and share data.</strong> Also read: China Publishes New Rankings of 37 Crypto Projects …

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15 Nations Plan Global Crypto Monitoring System Under FATF: Report

Fifteen nations are planning to set up a system to monitor cryptocurrency transactions alongside the Financial Action Task Force (FATF), a Friday report indicates. According to Nikkei Asian Review, the aim is to stem the movement of funds for illicit purposes, such as money laundering and funding of terrorism, by collecting and sharing transaction data, …

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Indian Government Breaks Silence on Crypto Regulation

<header class=”article__header”> </header> <strong>The Indian government has finally spoken up about the regulatory framework for cryptocurrency it has been deliberating, providing answers to questions presented in the upper house of the Parliament of India. The government also confirmed that the report with the recommended crypto regulation has already been submitted by the interministerial committee tasked …

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Japan Has FATF Green Light to Create ‘SWIFT Network’ for Crypto: Report

Japan is said to be leading the creation of an international cryptocurrency payments network similar to banking network SWIFT. A report from Reuters on Thursday cites a source familiar with the effort as saying that the network is aimed to combat money laundering and was approved last month by the Financial Action Task Force (FATF). A …

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Japan reportedly pushes ‘international network for cryptocurrency payments’

Sponsored Links Members of idol group Kasotsuka Shojo (Virtual Currency Girls) wearing bitcoin masks look on during an interview following their live stage performance in Tokyo on January 12, 2018. KAZUHIRO NOGI via Getty Images As governments around the world try to figure out how to deal with everything from Bitcoin to Facebook’s Libra, Japan …

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