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The Financial Action Task Force (FATF) needs an entirely new approach when it comes to policing crypto, according to Sian Jones, the driving force behind much of the sector’s anti-money laundering (AML) standards work to date.Speaking at the close of the second annual V20 Virtual Asset Service Providers Summit, Jones
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The international watchdog has recommended comparing users' age and wealth with their crypto transactions to identify possible criminal activity. Source
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[sociallocker id="55298"] The Financial Action Task Force (FATF) has a plenary meeting scheduled on June 24 to assess the progress of Virtual Asset Service Providers (VASPs) worldwide in enforcing the organization’s “travel rule”.According to Pawel Kuskowski at Forbes, the FATF meeting will be held virtually in two weeks to discuss
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Top ShelfProgress must keep pace with need. An overriding theme during day three of Consensus: Distributed was that the pace of technological development - driven by interconnected but diffuse organizations - must keep up with (or keep in mind) the needs of actual people and societies.“To solve a problem you
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Things are settling in on the third day of Blockchain Week.Tuesday saw Nym’s Harry Halpin give an in-depth demonstration on how to shield your transactions, while Vitalik Buterin walked back a comment he made the previous day. Here’s what my colleague Nikhilesh De watching for throughout the day:Good morning folks, and welcome to
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On Feb. 26, Hong Kong’s financial secretary Paul Chan stated that his administration will strengthen its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) policies regarding cryptocurrencies.In his recent budget speech, Chan indicated that the amendments will address recommendations made by global financial watchdog, the Financial Action Task Force (FATF). New
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Finance ministers and central bankers from the G20 are pushing for wider adoption of standards that compel cryptocurrency exchanges to disclose user information.Following a summit in the Saudi-Arabian capital Riyadh over the weekend, representatives from G20 financial institutions pressed countries that have not done so already to align themselves with
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The Ukranian government has approved the final version of a money laundering law that will handle virtual assets and virtual asset service providers (VASPs) per FATF guidelines.On Dec. 6, the Rada, Ukraine’s legislative body, published a final version of the law that considers virtual assets to be a store
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In an announcement released on Monday, the crypto exchange BitBay has affirmed that it will stop its support for the cryptocurrency Monero (XMR). The trading platform will stop its support on 19th February, 2020.Monero is a privacy-oriented digital coin. To keep up with the market standard, BitBay has decided to
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Former members of the Financial Action Task Force (FATF) have joined the Shyft Network’s advisory team.In a press release shared with CryptoX 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
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