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Former Binance CEO Changpeng "CZ" Zhao has opposed the United States government's efforts to block his return to the United Arab Emirates (UAE) to be with his family while awaiting sentencing following his guilty plea.In a court filing on November 23, Zhao’s lawyers urged the judge to reject the proposed
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Zhao’s guilty plea stems from accusations that Binance violated the Bank Secrecy Act by knowingly allowing US customers on the platform without conducting proper KYC and AML checks. In a recent development in the legal saga surrounding Binance Holdings Ltd‘s former CEO Changpeng ‘CZ’ Zhao, prosecutors are intensifying efforts to keep
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Crypto exchange Gemini newly announced measures to comply with the controversial crypto Travel Rule in the United Kingdom reflects a “worrying creep” toward overregulation and will strip customers of their freedom for self-custody, according to a Trezor analyst.On Nov. 7, cryptocurrency exchange Gemini announced it has made changes in order
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In 2024, the prices are expected to further go up. According to a Wall Street analyst Brandt Montour, the rise in ticket prices for 2024 sailings will be set 20% to 30% higher than 2019 levels. The 2023 cruise industry is booming, it has significantly surpassed pre-pandemic 2019 levels and broken sales
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The Crypto Travel Rule was created by the UN’s Financial Action Task Force (FATF) in June 2019 as a measure to prevent illicit actors from laundering money through cryptocurrencies. Commencing today, September 1, a new regulatory requirement is now in effect for cryptocurrency-related enterprises operating within the United Kingdom. This crypto
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Cryptoasset businesses in the United Kingdom could now begin withholding certain crypto transfers to comply with the new Travel Rule for crypto that came into effect on Sept. 1.The rules targeting virtual asset service providers were first introduced by the Financial Conduct Authority on Aug. 17, and see to it that
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Even where implemented, there are discrepancies. Canada, for instance, requires operators to jot down beneficiaries’ postal addresses, while the U.K. doesn’t, and firms are caught in a quandary when handling a transfer between the two, Caterina Veloso, co-chair of lobby group CryptoUK’s travel rule working group, told CryptoX. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied From Sep. 1, 2023, crypto businesses in the UK will be legally required to collect, verify, and share transfer information, under the so-called “Travel Rule.” This directive, endorsed by the Financial Action Task Force (FATF), seeks to
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Controversial new measures known as the travel rule, requiring crypto operators to identify the sender and recipient of funds transfers, are already legislated to take effect in the U.K. as of Sept. 1. While the money-laundering norms haven’t yet been fully implemented across the world, the U.K.'s upcoming stricter rules,
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As the pilot program for China's central bank digital currency (CBDC), the digital yuan, takes off, Chinese business travelers will reportedly be able to pay for flight tickets using the new currency. A collaboration between China Merchants Bank, a commercial banking firm and the Civil Aviation Administration led to the introduction
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