Category: AML

FinCEN Extends Dates for Public Comments on New AML Crypto Wallet Regulations

FinCEN has finally extended the period for public comment on its newly released AML regulations for virtual asset service providers after heavy backlash from people for technically prohibiting them from commenting on the proposed regulations. The press release by FinCEN notified that they are reopening the comments period by 15 days for its reporting requirements, and […]

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Just In: FinCEN “Technically” Prohibits Public Comments on Newly Proposed Crypto Wallet Regulations

The much-awaited regulations around crypto wallets  that would extend AML regulations to non-custodial wallets were finally released by the Financial Crimes Enforcement Agency (FinCEN)  called  “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets.” The new set of rules would require any virtual Asset Service Providers (VASPs) such as exchanges and custodians to […]

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Peter Schiff Calls For Bitcoin’s Doom Again With New KYC Regulations

Famous gold proponent Peter Schiff is not a big fan of bitcoin and has predicted the top cryptocurrency’s doom on a number of occasions. Schiff’s last prediction came after the infamous Black Thursday crash in March this year when the bitcoin price crashed by more than 50% in a single day. Since then bitcoin has […]

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FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote financial inclusion. Yet despite this acknowledgment, the FSB still argues against the […]

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