Keep you updated with latest news in blockchain industry and cryptocurrencies.
Key takeaways: Israel issued a seizure order on 84 addresses linked to the Hamas terrorist group. The wallets hold various cryptocurrencies such as BTC, ETH, LTC, XRP, etc… In July, the Israeli government issued an Administrative Seizure Order to seize 84 cryptocurrency addresses it says belong to the terrorist group »
Key takeaways: FATF held a plenary from June 21-25 and worked, among others, on its 2nd 12-month review of the implementation of the revised standards on VAs and VASPs. Compliance from public and private sectors is reported to have improved but remains insufficient. FATF’s revised guidance will be published later »
Key takeaways: FATF updated its list of jurisdictions under increased monitoring with 4 additional jurisdictions that have deficiencies in their AML/CFT regimes. Funds associated with these jurisdictions are thus riskier in terms of ML/TF. The Financial Action Task Force (FATF) decided to place 4 additional jurisdictions on its “greylist” on »
Key takeaways: FATF plenary took place from June 21 to 25. The report on the 12-month review of FATF’s revised standards for VAs and VASPs will be published on July 5. The finalization of FATF’s revised Guidance on VAs and VASPs is pushed back to October 2021. FATF plenary meetings »
Key takeaways: On May 8, Colonial Pipeline was hit by ransomware. A month later, the US DOJ announced that it had seized the coins from Darkside’s wallet. Monitoring ransomware funds is vital to mitigate ML/TF risks and ensure a safe crypto market. The use of ransomware has intensified in the »
Key takeaways: DeFi attracts more and more users, bringing AML and fraud risks to the crypto industry though. Regulators might be issuing DeFi regulations soon. The decentralized finance (DeFi) industry has been booming since mid-2020 and gathers more and more users. Indeed DeFi platforms such as decentralized exchanges (DEX), lending, »
Key takeaways: Cryptocurrency usage is increasing which leads to a growing demand for crypto services. Financial institutions are moving to crypto services to satisfy this growing need. They should satisfy crypto AML/CTF requirements and mitigate risks from their crypto exposure. With the recent expansion of cryptocurrencies and cryptocurrency usage, more »
Key takeaways: It could be tricky for Korean exchanges to comply with the newly implemented AML/CTF regulations. South Korea could start its CBDC pilot test later this year. The country is also focusing on preventing crypto from being used for ML purposes. Crypto taxation will be implemented in January 2022. »
Key takeaways: Facebook’s recent data breach exposed a lot of users’ information. Such breaches can put crypto funds at risk. Over the last few years, we have witnessed a number of crypto-related hacks. Amongst the most notorious ones, we can take the example of the Kucoin hack in 2020 or »
Key takeaways In April, two of the country’s exchanges collapsed. On April 30, Turkey implemented a ban on cryptocurrency payments. On May 1, AML/CTF requirements were imposed on crypto trading platforms. In the last few weeks, Bitcoin and cryptocurrencies have been a heated topic in Turkey as two of the »
