Huobi HK Applies for Regulated License to Exchange Crypto Assets in Hong Kong
Huobi HK said on Twitter that the company filed an application with the Hong Kong Securities and Futures Commission (SFC) on May 29 for a regulated license to exchange crypto assets. Under current law, before cryptocurrency companies can provide regulated services to cust ...
Japan Strengthens Anti-Money Laundering Measures for Cryptocurrencies
Japan's parliament has decided to introduce stricter measures against money laundering through cryptocurrencies. The new AML procedures will go into effect as early as June 1. According to local publication Kyodo News, the new AML procedures will allow the Japanese legisl ...
Japan Strengthens Anti-Money Laundering Laws for Cryptocurrencies
The country will adopt tougher laws against money laundering in cryptocurrencies The rules will take effect on June 1 Japanese lawmakers have decided to tighten anti-money laundering (AML) measures to track cryptocurrency transactions. Parliament on Tuesday, M ...
HashKey Group Aims to Raise $200 Million Leveraging Hong Kong Digital Assets
Cryptocurrency investment company Hashkey Group plans to raise up to $200 million by taking advantage of Hong Kong digital assets. It writes Bloomberg. The HashKey Group itself is now valued at more than $1 billion. The company is ...
Pakistan Announces Plans to Completely Ban Cryptocurrencies
Powers have called this asset class "common fraud." The country is not willing to risk FATF "white" status for a questionable market Pakistan was removed from the "gray list" of rogue states in October 2022 The Standing Committee on Finance met Tuesda ...
European Council Harmonizes Legislation on Crypto-Asset Market Regulation in the EU
On Tuesday, May 16, the European Council completed the procedure for harmonizing legislation on the regulation of the crypto-assets market in the EU. Finance ministers from the 27 countries that make up the European Union have unanimously supported the draft law on regula ...
Bermuda Emerges as a Crypto Business Hub with Clear Regulations and Prime Minister’s Support
The island state offers clear and precise rules And the prime minister has become a frequent visitor to crypto forums The island of Bermuda is well on its way to becoming the new center of the crypto business. This island nation has been developing an offshore in ...
Binance Responds to Reuters’ Claims of Terrorist Ties
The management of the cryptocurrency exchange Binance commented on a recent article by Reuters news agency about the Israeli authorities blocking 190 accounts of the exchange with ties to terrorists. Reuters recently published an article citing a document by Israel's Nation ...
UK Cryptocompanies could approve their own advertising under new proposed amendment
An amendment proposed to the Financial Services and Markets Bill would allow cryptocompanies that are already registered with the FCA to independently approve their own advertising. Passage of the amendment would allow UK supervisors, the Financial Conduct Authority (FCA) a ...
Hong Kong Regulator Prepares to License Cryptocurrency Exchanges
The Hong Kong Securities and Futures Commission (SFC) said it is preparing rules for licensing cryptocurrency exchanges and will present them next month.</div Bloomberg cited SFC CEO Julia Leung as saying that the new guidelines and regulations will support cryptocurrenc ...
European Commission Calls for Stronger Background Checks on Cryptocurrency Users
The European Commission has recently released a report stressing the need for increased scrutiny of users of cryptocurrency exchanges and ATMs, citing concerns over the growing prevalence of darknet marketplaces and the purchasing of illegal substances. The European Monitoring Center for Drugs an ...
WEF Explores Blockchain for Digital Identification of Users
The World Economic Forum (WEF) is actively exploring the potential of implementing an international blockchain-based system to facilitate digital identification of users. The topic was extensively discussed at the WEF's annual workshop, which focused on techniques aimed at improving user identity ...
US Treasury Department Report Highlights DeFi’s Lack of Compliance with Regulations
The US Department of the Treasury recently released a report that shed light on the DeFi risk assessment carried out by its agency. According to the report, such services do not comply with the necessary regulations and laws that govern traditional finance systems. Analysts from the agency poi ...
NYDFS Superintendent Rejects Claim that Signature Bank Closure was Due to Cryptocurrency Clients
The superintendent in charge of the New York State Department of Financial Services (NYDFS) has dismissed claims that Signature bank's closure was related to its dealings with cryptocurrency companies, deeming such allegations as absurd. Adrienne A. Harris clarified that the actual reason for the ...
Japanese Regulator Warns Cryptocurrency Exchanges About Legal Compliance
The Japan Financial Services Agency (FSA) recently issued a warning to four foreign cryptocurrency exchanges - Bybit, BitForex, MEXC Global, and Bitget - stating that they need to ensure legal compliance in the country. The FSA noted that these exchanges may be violating Japanese laws, although t ...
EU Proposes Amendments to Anti-Money Laundering Legislation for Cryptocurrencies
The European Parliament is currently discussing proposed amendments to the EU's anti-money laundering legislation. These amendments, if passed, would impose limitations on the lump sum of anonymous transactions. However, according to Damien Carême, MEP and one of the initiators of the bill, these ...
Former CFTC Chairman Warns Central Bank Digital Currencies Could Violate Privacy Rights
Christopher Giancarlo, the former chairman of the US Commodity Futures Trading Commission, has raised concerns about the potential for central bank digital currencies to infringe upon privacy rights and violate existing anti-money laundering rules and Know Your Customer procedures, which he believes ...
Pakistan Banking Association and Avanza Group collaborate on eKYC blockchain platform
The PBA and Avanza Group have collaborated to establish a groundbreaking blockchain-based eKYC banking data exchange platform. Under the guidance of the State Bank of Pakistan, the PBA will oversee the project, with the ultimate goal of enhancing anti-money laundering and terrorist financing meas ...