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The European Union’s banking regulator, the European Banking Authority (EBA), wants to update existing Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) rules for crypto providers. In a consultation paper published on Nov. 24, the EBA explains that current European regulations are no longer sufficient to govern AML/CFT standards compliance
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Under the current proposal, traders would be forbidden from making or accepting anonymous crypto transfers over 1,000 euros ($1,080). If the customer's identity can be verified or if a regulated crypto provider is involved, the transaction would be allowed. The initial draft of the law was even harsher, but the
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U.S. Congressman Warren Davidson has touted the self-custody of cryptocurrencies as the antidote to crypto exchange FTX’s fraud. He is pushing for his bill called “Keep Your Coins Act,” which aims to “protect self-custody from misguided attempts to restrict it.” U.S. Lawmaker Pushes for Self-Custody Congressman Warren Davidson (R-Ohio) has touted crypto
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SatoshiLabs, the creator of the Trezor hardware wallet, has decided to shelve plans to adopt an automated protocol for proving ownership of a self-hosted wallet when withdrawing from an exchange in Switzerland (where it’s a regulatory requirement).The U-turn from Trezor followed a Twitter storm from customers and privacy buffs.Trezor announced
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FATF warns regulators to not blindly accept the crypto industry marketing that loosely calls various platforms “decentralized.” In function, these platforms typically have a natural, if not legal, person somewhere who controls or influences their activities. The term “controls or influences” is key and offers a framework to analyze who
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The Treasury has released its long-awaited proposal to restrict money services businesses, including U.S.-registered crypto exchanges, from dealing with self-hosted wallets.In a Friday evening announcement, the Treasury's Financial Crimes Enforcement Network, or FinCEN, announced proposed rules requiring registered crypto exchanges to verify the "identity of their customers, if a counterparty
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On February 28, Bitcoin Cash (BCH) proponents were introduced to a new platform called Bitcartcc. The project is a self-hosted open source
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