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In a consultation paper released on Nov. 24, the European Banking Authority (EBA), an EU agency tasked with implementing a standard set of rules to regulate banking across all EU countries, highlights that existing regulations governing Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) standards compliance for crypto providers are inadequate. The
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The industry is highly regulated and has access to a large amount of sensitive data, which means that banks and supervisors will have to be “comfortable about the risks that accompany the institutionalization of AI,” the report said, noting that dialogue between the industry and regulators is ongoing. Source
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Santander Private Banking International, a division of Banco Santander, is now offering its wealthy clients the opportunity to trade and invest in prominent cryptocurrencies like Bitcoin and Ether, marking a significant shift in the bank’s approach to digital asset management. Santander Private Banking International, an arm of Banco Santander, is now
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Three consultations on relevant rules will run until Feb. 8, 2024, the European Banking Authority has said. Original Source
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Tokenization of assets could be the answer to the risky complexities of settling the movement of funds and securities, said Michael Hsu, the acting head of the U.S. Office of the Comptroller of the Currency. Original Source
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Fiat payment rails and neobanking services are becoming a vital cog in driving mainstream adoption and acceptance of the wider cryptocurrency space, according to key industry figures at the intersection of traditional finance and Web3.Executives from OpenPayd, Ramp Network and Damex unpacked the increasing importance of third-party payment rails and
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In the all-hands call on Oct. 26, Elon Musk shares his vision for X becoming a central hub for financial matters. With previous reports of quiet Dogecoin development and the CEO’s history of sparking price rallies, new 2024 features of X continue to remain of interest to the cryptocurrency industry. Transforming Twitter
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"On this committee, we have a unique role to play, working to understand the financing behind Hamas’s attacks, so we can work to cut off funding for terrorism at its source ... and we will examine multiple terrorist funding streams, including cryptocurrency, and consider additional measures to stop the flow
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New European Union laws known as the Markets in Crypto Assets regulation, MiCA, due to take effect in December 2024, require prospective crypto license holders to show owners and executives have a good reputation. MiCA authorizations – which will allow crypto companies to operate across the 27-nation bloc – can
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