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Ukraine to Block Crypto Wallets for Illicit Funds, Finance Minister Says

News Ukrainian authorities will be able to “block crypto wallets” in order to seize illegally obtained assets, a notice on the country’s Ministry of Finance says. Oksana Markarova, Ukraine’s Finance Minister, reportedly said that the State Financial Monitoring Service of Ukraine (SFMS) will be the..

Deribit Releases Specifics of New KYC Policy Following Move to Panama

News Deribit, a crypto futures and options exchange that is moving from the Netherlands to Panama to avoid Europe’s new Anti-Money Laundering law has released its newly updated Know Your Customer (KYC) policy. In a Jan. 17 blog post, Deribit clearly said that its relocation to Panama has been main..

FCA’s New AML Regime – UK’s Crypto Market Will Have to Adapt in 2020

Analysis The Financial Conduct Authority (FCA) is now the United Kingdom's sole Anti-Money Laundering (AML) authority for the crypto business. After a decade of compliance under a laissez-faire approach to AML legislation, U.K.-based crypto firms now face a significantly more stringent set of..

New EU AML Compliance Laws Could Disrupt the Crypto Industry

Analysis On Jan. 10, the European Union’s 5th Anti-Money Laundering Directive (5AMLD), was officially signed into law. The legislation will give sweeping powers to compliance organizations and law authorities. However, aside from tracking dirty money to offshore paradises, the law brings about a s..

Research: Binance and Huobi Received Over 52% of Total $2.8B Illicit BTC in 2019

News Binance and Huobi have together received over 52% of total $2.8 billion illicit Bitcoin (BTC) transfers in 2019, according to a new report. Chainalysis’ findingsOver the course of 2019, criminal entities moved a total of $2.8 billion in Bitcoin to cryptocurrency exchanges, according to a Jan...

US Congress Looks at Role of Crypto and Internet in Funding Hate Crimes

News The House Financial Services Committee has raised concerns over the use of cryptocurrencies to fund domestic terrorism in the United States. In a Jan. 15 hearing, the FSC Subcommittee on National Security, International Development and Monetary Policy has examined how U.S. financial instituti..

What The 5th Anti-Money Laundering Directive Means For Crypto Businesses

News The European Union’s 5th Anti-Money Laundering Directive (5AMLD) came into effect today, January 10. The regulation was entered as law on July 9, 2018 in an effort to bring increased transparency to financial transactions for pushing back against money laundering and terrorist financing acros..

UK Financial Watchdog FCA Now Supervises AML/CTF Compliance of Crypto Businesses

News Britain’s Financial Conduct Authority (FCA) now monitors anti-money laundering (AML) and counter terrorist financing (CTF) for companies carrying out cryptocurrency-related activities. According to an official announcement published on Jan. 10, FCA will supervise whether United Kingdom-regist..

Deribit Leaving: European AML Law Continues To Hurt Crypto Businesses

Bitcoin was created by pseudonymous coder and cryptographer Satoshi Nakamoto as a seeming way to give individuals a chance to opt-out of the fiat, government system through decentralization. Altcoins, too, seemingly share a similar premise; Ethereum, for instance, has so-called decentralized financ..

Privacy Coins in 2019: True Financial Freedom or a Criminal’s Delight?

New Year Special The right to privacy is a fundamental prerequisite for peace of mind and security. The idea that only criminals have something to hide is strange. Contrarily, privacy is sought by almost everyone. Yet, it still gets stigmatized as suspicious — reserved solely for criminals or devi..

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