Keep you updated with latest news in blockchain industry and cryptocurrencies.
Further to the FATF Plenary Session on 24 June, FATF published the full 12-month review of the implementation of its revised Standards of AML/CFT requirements on virtual assets and virtual asset service providers (VASPs). This article gives an overview of the report with some important points highlighted. KEY TAKEAWAYS: Overall, »
On 24 June 2020, FATF President Xiangmin Liu chaired the third and last Plenary meeting under the Chinese Presidency. During the lockdown due to the COVID-19 pandemic, the FATF keep working hard especially as the new money laundering and terrorist financing threats is emerging. AML/CTF risks for virtual currencies and »
As a cryptocurrency friendly country compared to its neighbors, Singapore is being active in developing and enhancing the regulatory framework for cryptocurrency firms. It’s all about balance between regulations to ensure consumer protection and keeping attractive projects. To help crypto companies doing business, Scorechain provides a clear overview of the »
On April 21, the Dutch Upper House passed the Implementation Act in order to transpose the fifth Anti-Money Laundering Directive (AMLD5) to comply with the European regulations and standards set by the Financial Action Task Force (FATF). Registration obligation by May 18th Last week, De Nederlandsche Bank (DNB) enhanced this »
On 15 January 2020, the CSSF (Commission de Surveillance du Secteur Financier) in Luxembourg released a communiqué on virtual assets, virtual asset service providers (“VASPs”) and the related registration process. What is new? With the adoption of the Laws of 25 March 2020 (the “March 2020 Laws”) amending the AML/CFT »
Driven by the growth of stablecoins, the use of the Ethereum network to transfer value reached a new record recently. Now, it seems Ethereum really starts to compete with Bitcoin for value transfers. Monitoring the transactions for Anti-Money Laundering purposes is becoming increasingly important. First, because the volume traded has »
In the context of growing interest in the Distributed ledger technology (DLT) shown by blockchain ecosystem players and also traditional financial actors, the regulation of crypto assets in the world is changing quickly. This article aims to give an overview of the current status of regulations of crypto assets in »
The amendments to the Money Laundering and Terrorist Financing Prevention Act (MLTFPA) in Estonia were adopted by the Estonian parliament on 11 December 2019, and entered into force on March 10th 2020. Who is concerned? The Act aims to provide more transparency in business activities and involve cryptocurrency activities. These »
As part of providing risk aml solutions for cryptocurrency assets, at Scorechain we also provide trading information looking at services and exchanges inflows and outflows. Let’s have a look at this notable correlation between the ongoing Covid-19 crisis, Bitcoin price and exchanges on-chain trades. Can the recent event related to »
The actors of the crypto-assets ecosystem and financial institutions have only one-month remaining to send their comments and answers to the Basel Committee. The initiative invites stakeholders to share feedback on crypto-assets treatment. Last December, the BIS (Bank for International Settlements) published a discussion paper1 that aims to design a »
