Tag: Regulation

Crypto – The Face of Financial Corruption & Crime, But Is It Really?

Crypto – The Face of Financial Corruption & Crime, But Is It Really?

Discussions around cryptocurrency have not strayed far from financial crime such as money laundering and financing terrorism, while governments and central financial institutions are constantly painting cryptocurrency as a medium feeding a hive of criminal activity. There is undoubtedly some truth to this, but the crypto community has long been criticizing the biased narrative forced […]

Continue Reading

EU Rolls Out Four-Year Plan for Crypto Asset & Blockchain Use

EU Rolls Out Four-Year Plan for Crypto Asset & Blockchain Use

According to Reuters, the European Union (EU) is intending to develop new ways of international payments with the help of blockchain technology and crypto assets, specifically stablecoins in the next four years. By 2024, the EU will not only lead the shift from cash payments to digital finance, but also reformulate laws and policies regarding […]

Continue Reading

EU to Launch Comprehensive Crypto Regulation by 2024: Report

EU to Launch Comprehensive Crypto Regulation by 2024: Report

The European Union is planning to implement comprehensive cryptocurrency regulation by 2024, two EU reports have reportedly revealed. This follows five European finance ministers calling on the European Commission to put in place “very strong and very clear rules” on cryptocurrency.EU Crypto Regulation Coming SoonA comprehensive cryptocurrency regulatory framework is expected to be put in […]

Continue Reading

Gibraltar Updates Distributed Ledger Framework to Align With FATF Crypto Regulations

Gibraltar Updates Distributed Ledger Framework to Align With FATF Crypto Regulations

Please enable cookies. Please complete the security check to access news.bitcoin.com Why do I have to complete a CAPTCHA? Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. What can I do to prevent this in the future? If you are on a personal connection, like at […]

Continue Reading

Bank of England’s Negative Interest Rate Policy – Time for Crypto & Stablecoins

Bank of England’s Negative Interest Rate Policy – Time for Crypto & Stablecoins

The COVID-19 pandemic has dealt a severe blow to the UK economy and increasing COVID-19 numbers coupled with the financial strain the regional power is experiencing from Brexit has led the UK’s central bank to move towards a negative interest rate policy. Negative interest rates hardly bode well for bank customers with a savings account […]

Continue Reading

Majority of Money Laundering Cases Involve Use of Fiat Currency, Not Crypto

Majority of Money Laundering Cases Involve Use of Fiat Currency, Not Crypto

Cryptocurrency has in recent years become the new face of criminal transactions, from money laundering and fraudulent schemes to financing global terrorism. News of cryptocurrency being seized in raids by authorities are aplenty, while financial regulators and governments contribute to the perception of cryptocurrency and Bitcoin as the main medium of transactions in these illicit […]

Continue Reading

UK Financial Regulators Proposing Mandatory Monthly Financial Crime Reports from Crypto Exchanges & Wallet Providers

UK Financial Regulators Proposing Mandatory Monthly Financial Crime Reports from Crypto Exchanges & Wallet Providers

The UK Financial Conduct Authority (FCA) is seeking to introduce a new requirement for crypto exchanges and wallet providers operating within its jurisdiction to combat money laundering, which they believe runs rampant in the crypto industry. The REP-CRIM financial report was first rolled out in July 2016 and it was compulsory for selected firms to […]

Continue Reading

Major 2017 Bitcoin Scam Defendant MIA; CFTC Proposing More Than $500 Million in Penalties

Major 2017 Bitcoin Scam Defendant MIA; CFTC Proposing More Than $500 Million in Penalties

The man responsible for an alleged crypto Ponzi scheme back in 2017, Benjamin Reynolds, may be charged with $572 million in penalties for the fraudulent scheme, that is, if the US Commodity Futures Trading Commission (CFTC) can locate him. Reynolds, Director of UK-based firm Control Finance which has ceased operations since 2017, failed to turn […]

Continue Reading