fatf

Governments Begin to Roll Out FATF’s Travel Rule Around the Globe

It’s been nearly eight months since the Financial Action Task Force issued its divisive crypto directives, establishing traditional banking regulations within the crypto sector. With the year-long adoption deadline fast approaching, how have the world’s regulatory authorities responded to the guidelines so far? The FATF — an intergovernmental organization tasked with combating money laundering — …

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Inside the Standards Race for Implementing FATF’s Travel Rule

The Takeaway: Crypto businesses are figuring out how to comply with the Financial Action Task Force’s “Travel Rule,” where all crypto transactions above a certain amount must be accompanied by identifying information. Competing visions for the technical implementation have emerged, though there appears to be general agreement on the need for messaging standards. Legal and …

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Cashfusion Far More Practical Than Other Coinjoin Protocols, Says Data Analyst

</header> <strong>On January 29, data analyst James Waugh decided to test and see if the Cashfusion protocol was really anonymous. After testing Cashfusion, Waugh explained he sifted through a number of transaction inputs and outputs and realized that it’s “not possible to establish a concrete link” between them.</strong> Also read: How to Obscure Bitcoin Cash …

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Another Crypto Exchange Discourages the Use of Bitcoin Mixing Services

</header> <strong>The cryptocurrency exchange Binance was recently scrutinized for flagging a customer’s funds because the individual had used a bitcoin mixing application. Now the platform Paxos Global is discouraging the use of crypto mixers after a customer allegedly sent coins to a mixing service.</strong> Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, …

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Ukraine Plans to Track Suspicious Crypto Transactions Above $1,200

Ukraine’s financial watchdog intends to track crypto transactions exceeding $1,200, according to the head of the country’s Ministry of Finance, Oksana Makarova. For the first time, Ukrainian anti-money laundering law includes crypto as an asset to be monitored, among others. The threshold for triggering the scrutiny process is 30,000 Urkainian hryvnia (UAH), or US$1,200.  “If …

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Regulatory Roundup: New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies

</header> <strong>In this roundup, we cover an exceptionally busy week for crypto regulations around the globe. We start our coverage with t</strong><strong>he U.S. Virtual Currency Tax Fairness Act of 2020, actions by the SEC, Ripple’s lawsuit, India’s supreme court hearings, Australia green-lighting a bitcoin retail fund, Thailand approving a new crypto exchange, and new crypto …

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FATF Holds Global Forum to Discuss Crypto Supervision

</header> <strong>The Financial Action Task Force (FATF) and over 50 delegations involved in crypto supervision recently gathered to discuss how to regulate crypto assets and related service providers. While examining three key areas, they stressed the importance of international cooperation, citing that cryptocurrencies are global products.</strong> Also read: Regulation Roundup: EU-Wide Crypto Regulations, New Rules …

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IMF Helping Philippines Become Important Crypto Market

</header> <strong>The International Monetary Fund (IMF) is providing the Philippines with technical assistance regarding crypto assets. The IMF believes the country may become an important crypto market and has provided the Bangko Sentral ng Pilipinas with suggestions for the country’s crypto regulation, including quarterly data collection from approved crypto exchanges.</strong> Also read: Regs Roundup – …

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Inside the Osaka Conference Where Crypto Got Serious About FATF’s ‘Travel Rule’

This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Leah Callon-Butler is the director of Emfarsis, a consulting firm focused on the role of technology in advancing economic development in Asia. There he was, belting out Fats Waller …

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As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted

</header> <strong>Since the inception of Bitcoin, governments have tried to keep track of all the transactions taking place on the public blockchain. As the years progressed, authorities have shown a distaste for cryptocurrency mixing applications like Coinjoin. On Dec. 19, a Binance customer couldn’t withdraw his bitcoin because the exchange told him he used the …

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