FCA: Annual Financial Crime Report to be extended; cryptoasset businesses included

This August, the Financial Conduct Authority (FCA) in the UK published a consultation paper. The paper proposes to extend the scope of firms required to provide Annual Financial Crime Report (REP-CRIM) information. It should include firms that carry on regulated activities considered to potentially have higher money laundering risk, such »

Crypto taxation in South Korea should be expected this autumn

Up to now, both personal (resident & non-resident) and foreign corporations in South Korea don’t pay any tax on their crypto profits under the current tax law. Back to the end of last year, the Ministry of Economy and Finance clarified that profits from individual virtual asset transactions are not »

Can Compliance and AML Software Improve Cryptocurrency Business Sustainability?

This article was published on the Cointelegraph website on July 22, 2020. Read the original article here: https://cointelegraph.com/news/can-compliance-and-aml-software-improve-cryptocurrency-business-sustainability Cryptocurrency businesses are facing increasing challenges as new regulations are introduced globally, which is changing the face of the industry and forcing companies to search for effective solutions. Anti-Money Laundering and Combatting the »

What we know about Twitter Hack

On July 15th, Twitter Hack Scam became the focus of the day. The attackers had access to 130 accounts and used 45 of these to ask the public to send bitcoin.1 Many high-profile personal and company accounts such as Bill Gates, Joe Biden, Barack Obama, Jeff Bezos, Apple and Uber »

Cryptocurrencies Regulatory Landscape in Singapore

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 »