Report: Review of Bitcoin transactions in terms of ML/TF Risks

Scorechain released its latest report on Bitcoin transactions during the last 5 years (2016-2020) to give its perspective on the associated money laundering (ML) and terrorist financing (TF) risks. Download the FREE report here: https://scorechain.com/bitcoin_transactions_ml_tf_risks It has been more than a decade now that Bitcoin has been released. During this »

Scorechain S.A., Luxembourg, and PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt am Main, cooperate to introduce a common solution in the context of AML Compliance requirements towards transaction monitoring of crypto-asset providers

This article has also been published by PwC Germany on April 29, 2021. Read the article here. Scorechain S.A., Luxembourg, and PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt am Main, cooperate to introduce a common solution in the context of AML Compliance requirements towards transaction monitoring of crypto-asset providers Luxembourg/Frankfurt, April 29, 2021 »

Ireland: AML/CFT Law on Virtual Assets

Key takeaways: Ireland transposed the 5AMLD to national law. It extends the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010 to VASPS. The law will impose AML/CFT standards on VASPs starting April 2021. In September 2020, the Irish government approved the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) »

Stablecoins: Understanding ML/TF Risks and Regulatory Developments

Key takeaways: Stablecoins held on exchanges recently reached an all-time high. More and more jurisdictions are planning to regulate them. FATF issued guidance on how to apply its standards to stablecoins. Lately, stablecoin usage has been increasing significantly. According to the market data provider CryptoQuant, stablecoins held on exchanges rose »

How to file taxes on crypto for US owners?

Key takeaways: The US IRS updated its tax requirements at the end of 2020. US citizens must disclose their crypto activities in Form 1040. Taxes must be filed no later than April 15, 2021. The US Internal Revenue Service (IRS) published1 new guidelines on how to file taxes on crypto »

Implement a risk-based approach on transaction monitoring to comply with UK cryptoassets regulation: download the Guide for free

Scorechain released its latest guide to help UK-based crypto businesses to comply with AML/CTF regulations by implementing a risk-based approach on transaction monitoring. Download the FREE Guide here: https://www.scorechain.com/UK-cryptoassets-regulation Regulators around the globe are more and more concerned about digital assets and virtual asset service providers in particular. It is »

Institutional Investors’ Growing Interest in Cryptocurrencies

Key takeaways: Bitcoin and cryptocurrency prices have increased lately and remain bullish. Institutional players are moving to the crypto sphere recently. Several reasons from regulation to industry can explain this trend. In the past months, Bitcoin and Ether prices significantly increased: Bitcoin reached its all-time high value at $61,683.86 on »

South Korea: Updated crypto law enters into force today

Key takeaways: The law enters into force on March 25, 2021. It sets new AML requirements on virtual asset service providers including real-name verification, customer due diligence, reporting requirements, travel rule, etc. Concerned entities are granted a 6-month grace period to fully comply by September 24, 2021. On March 5, »

Scorechain Academy is officially launched

We are very excited to announce the official launch of Scorechain Academy today! With increasing usage and business opportunities for many industries, worldwide regulators have started to include virtual assets under the scope of anti-money laundering and counter-terrorism financing laws. Regulations are evolving, so are the requirements to be competent »