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Canada’s New AML Rules Have Room for Improvement but a Good Start, Eh?

Analysis As the world’s supervisory agencies start to heed the crypto guidelines of the Financial Action Task Force, a new regulatory landscape is taking shape within the crypto industry. The latest country to annex the FATF directives is Canada, but how will the new rules impact crypto business i..

Canada Tightens Crypto Regulations Alongside AML/CTF Overhaul

News The Financial Transactions and Reports Analysis Center of Canada (FINTRAC) has announced it will soon implement new anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. The laws including updated guidelines for virtual currencies. In a departmental report published o..

Monetary Authority of Singapore Issues AML/CFT Guidelines

News Some countries have been late to the party when it comes to recognizing and regulating digital assets. The first time that Singapore’s central bank issued a framework for the regulation of payment-related activities was on Jan. 28 with the Payment Services Act. However, the Monetary Authorit..

New PlusToken Report Shows KYC May Be Smoke and Mirrors

News A new report on the PlusToken Ponzi scheme shows regulated exchanges are being used to dump coins, despite stringent Know Your Customer (KYC) identify verification rules. Investigative company OXT Research has released a second edition of their in-depth blockchain analysis on the PlusToken sc..

Russia Updates Its Laws for Cryptocurrencies

Expert Take The volume of cryptocurrency flows on darknet markets — which are involved in illegal drug and arms trafficking, remittance and transfer of illicit funds — have doubled for the first time in four years, a new report says. Accordingly, Russia has been updating its bribery and Anti-Money..

Two Japanese Men Arrested for ‘Fencing’ NEM From Coincheck Hack

News Tokyo police arrested two men in connection to the Coincheck hack on March 11. The men are accused of purchasing stolen NEM (XEM) through a dark web market, in violation of a law designed to tackle organized crime. As reported by Japan Times on March 11, Tokyo’s Metropolitan Police Department..

Japan’s National Police: 537 Arrests for Money Laundering in 2019

News Anti-money laundering regulations on cryptocurrency and blockchain transactions may be having a positive outcome in East Asia. According to an article released by the Japanese newspaper Nikkei on Mar. 3, the National Police Agency of Japan brought criminal charges in 537 cases against financi..

Crypto Exchange Digitex Removes KYC to Protect User Data

News While some global cryptocurrency exchanges move to expand Know Your Customer (KYC) rules, some major rivals claim that crypto platforms don’t need KYC at all. Digitex, a Seychelles-based crypto derivatives exchange, will start removing KYC identification this week in response to a major user ..

Ukraine’s Officials Will Need to Report Crypto as ‘Intangible Assets’

News The Ukrainian National Agency on Corruption Prevention (NACP) detailed how cryptocurrencies must be reported on yearly income declarations. Cryptocurrencies are categorized under the “intangible asset” section, though they are also mentioned by name. On March 2, the agency published a set of ..

From Taxes to Transparency: The IRS Gets Schooled on Crypto

News It is no secret that the United States Internal Revenue Service is working to cope with the unique challenges of taxing cryptocurrencies. In the first of a series of panels today, March 3, four experts spoke about recent advancements in cryptocurrency technology and the challenges and opport..

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