Cryptocurrency Analysis and News Portal
South Korean crypto exchanges have reached the government-mandated deadline to come into compliance with the so-called Travel Rule, but not all industry players are pleased with the measure.Starting today, Korean exchanges will flag any crypto transfers worth more than roughly $821. Transfers higher than that value will be restricted to
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The Digital Assets Sanctions Compliance Enhancement Act, introduced with Senators Jack Reed (D-R.I.), Mark Warner (D-Va.) and Jon Tester (D-Mont.) and others, would allow the U.S. president to add non-U.S.-based crypto companies to sanctions list if they support sanctions evasion. Original Source
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The United States-based crypto exchange Coinbase has proposed the use of cryptocurrencies to help ensure compliance with economic sanctions. This recommendation comes by highlighting the ease of laundering and sanction evasion of fiat currencies made possible by traditional financial infrastructures. Written by Coinbase’s chief legal officer Paul Grewal, the blog talks
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“FIS and Worldpay are getting equipped for the next generation of payments,” said Shyft co-founder Joseph Weinberg in an interview. “Having a regulatory-compliant data layer becomes critical, whether it be with stablecoins or between VASPs [virtual asset service providers], from a Travel Rule perspective.” Source
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A lack of guidance on everything from staking rewards to NFTs means there’s a certain amount of guesswork involved in tax filings. Source
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Tammy Weinrib will have a focus on know-your-customer (KYC) and anti-money laundering (AML) programs. Source
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The Sardine platform has now added instant bank Automated Clearing House (ACH) transfers for crypto on-ramps, removing the traditional three to seven-day waiting period for consumers to gain access to their funds. Sardine assumes the fraud, regulatory compliance and legal risks of the ACH transactions. Source
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In a report published on Friday, Reuters laid out the findings of its investigation into the regulatory compliance practices of Binance, the world’s largest cryptocurrency exchange by trading volume.The authors suggest the existence of a recurring pattern whereby the company’s CEO Changpeng Zhao, while proclaiming its openness to government oversight,
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“With DeFi, DAOs and NFTs reaching critical mass over the past 12 months, Shyft is trailblazing the way in addressing multiple challenges for financial services firms and governments that go far beyond Travel Rule,” Wright said in a statement, referring to decentralized finance, decentralized autonomous organizations and non-fungible tokens. Original Source
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Binance, the world’s largest cryptocurrency exchange, is putting more effort into increasing compliance in the Commonwealth of Independent States (CIS), Russia and Ukraine.Binance is planning to extend its operations in the region and boost local cryptocurrency compliance and education, Gleb Kostarev, Binance’s head of operations for Russia and the CIS,
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