Appearing at FINSIA’s “The Regulators” event on May 13 2022, AUSTRAC CEO, Nicole Rose, outlined the regulator’s priorities for 2022. The key focus areas pertain to high-risk, cash-intensive sectors such as pubs, clubs and betting agencies. To achieve this, AUSTRAC […]
This guide covers the essentials of building and scaling a crypto AML program, how to navigate regulatory change, and the emerging use cases – and threats – compliance teams should look out for.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned the cryptocurrency mixer service Blender.io, on account of it being used in a heist backed by the Democratic People’s Republic of Korea (DPRK) to fund the […]
Singapore-based cryptocurrency platform Coinhako has been granted a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) to offer Digital Payment Token (DPT) Services under the Payment Services Act (PSA). The exchange is one of five firms […]
In a new report, MONEYVAL, the Council of Europe’s financial crime research body, has called for stricter and more coordinated regulations to combat insufficient anti-money laundering (AML) compliance standards across 18 European jurisdictions. The report acknowledges that the growing use […]
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has issued new guidance to help firms tackle the criminal abuse of digital currencies and stop ransomware attack payments. The new guidance follows a number of recent updates from the regulator, including […]
India’s Finance Minister has highlighted the importance of technology in the regulation of cryptoassets during a panel discussion hosted by the International Monetary Fund (IMF). Nirmala Sitharaman told the panel that there were concerns about digital assets in her country […]
Singapore’s significant Financial Services and Markets (FSM) Bill has been approved by the country’s parliament. The bill is set to expand the powers of the Monetary Authority of Singapore (MAS) and address regulatory weaknesses in the cryptoasset space. It marks […]
The UK government has announced plans for stablecoins to become a recognized form of payment in the country, as part of a wider plan to boost the UK’s reputation as a hub for digital payment companies. In a statement Chancellor […]
New legislation to build a regulatory framework covering crypto custody, market licensing, taxation, and decentralized autonomous organizations (DAO), has been proposed by the Australian government. A consultation paper has been released on a planned Digital Services Act (DSA), seeking input […]
The Bank of England, Office of Financial Sanctions Implementation (OFSI) and the Financial Conduct Authority (FCA) have issued a joint statement offering guidance for the cryptoasset sector relating to sanctions evasion. With an unprecedented package of economic sanctions being imposed […]
President Biden has issued a long-awaited Executive Order (EO) detailing broad plans to create a framework for the regulation of cryptoassets in the US. The EO represents the US’ first whole-of-government approach to addressing the risks and harnessing the potential […]
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