Cryptocurrency Analysis and News Portal
Coinsource, a well-known bitcoin ATM company, purchased a booth at this year's Consumer Electronics Show (CES) in Las Vegas. Given increased interest from the IRS in bitcoin ATMs, we were especially curious about how users reacted when Coinsource increased its know-your-customer (KYC) requirements."Our compliance department is actually the largest department
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Britain’s Financial Conduct Authority (FCA) now monitors anti-money laundering (AML) and counter terrorist financing (CTF) for companies carrying out cryptocurrency-related activities.According to an official announcement published on Jan. 10, FCA will supervise whether United Kingdom-registered businesses engaged in crypto asset-related operations are compliant with relevant regulations and requirements.List of
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Lawyers representing the messenger giant Telegram have stated that a review of financial records requested by the United States Securities and Exchange Commission (SEC) will take five to seven weeks to prepare. In a Jan. 9 court filing, the lawyers explained that they must analyze data protection laws in a
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One of the world’s largest exchange-traded fund (ETF) providers is leading a $17.65 million investment in blockchain compliance startup Securrency.WisdomTree was the lead investor in the $17.65 million Series A funding round announced Tuesday. Other investors include the state-backed Abu Dhabi Investment Office (ADIO), Japanese financial services giant Monex Group
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Between Kraken's $1 million spend on subpoena responses in 2019 and stories like the $2 million it cost Blockstack to raise $23m in an SEC compliant token sale (8.7 percent of the raise), it begs the question: will compliance costs fundamentally limit innovation by demanding big war chests to play?
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The United States Securities Exchange Commission continues to scrutinize crypto as its compliance office adds fintech and digital assets to its annual priorities list.Per a Jan. 7 announcement from the SEC’s Office of Compliance Inspections and Examinations (OCIE), the agency has put new financial technologies including digital assets among
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TaxBit, a crypto-oriented tax compliance firm, has raised $5 million in a seed round that saw participation from the Winklevoss twins’ family office, Winklevoss Capital.In a Jan. 6 announcement, TaxBit said that it plans to use the raised funds to enhance its software products on an international scale as
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The Monero Compliance Workgroup has stated that the Monero (XMR) network is not subject to U.S. Financial Crimes and Enforcement Network (FinCEN) guidelines regarding the Funds Travel Rule, in a Dec. 5 blog post.What is the Funds Travel Rule?The Funds Travel Rule requires financial institutions who are sending and/or
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Denmark-based cryptocurrency users have begun receiving letters from the Danish tax agency, Skattestyrelsen (Skat), requesting that traders provide a full background of all their cryptocurrency transactions, sources informed CryptoX on Dec. 10.In its letters, Skat specifically asked crypto users to provide information about profits and losses for fiscal years
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The partnership, announced Wednesday, means the London-based Elliptic will monitor transactions passing through Zilliqa, including those in Zilliqa’s ZIL crypto and in the upcoming Singaporean dollar-pegged stablecoin XSGD, set for release in December, according to a press release. Original Source
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