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Witnessing the digital breakthrough
Narvesen Retail Network and Press Kiosks to Start Selling Bitcoin in Lithuania
Innovations   |   18.09.19  |  

To convert euros to bitcoins, no identity cards or other documents are required. All that a user needs is an email address and a bitcoin wallet A network of Narvesen stores and Lithuanian Press kiosks in Lithuania will start trading bitcoins, Delfi news agency reports . These enterprises were chosen due to the extensive network and positive attitude towards cryptocurrencies. Narvesen CEO Vigintas BARTASEVIČIUS commented on the initiative: “We currently have a network of nearly 60 Narvesen stores...

US FinCEN Is Getting Nervous About Cryptocurrencies In The Betting Industry
Legislation   |   16.08.19  |  

On Tuesday this week, the United States Financial Crimes Enforcement Network held the annual meeting with gambling operators about the compliance with the country’s AML laws On Tuesday this week, the United States Financial Crimes Enforcement Network held the annual meeting with gambling operators about the compliance with the country’s AML laws. In general, the whole meeting went towards talking about cryptocurrencies ...

Importance of KYC/AML & Cryptocurrency Regulations in Crypto Exchanges
Guest-posts   |   06.08.19  |  

KYC and AML are on agenda again, since FATF has imposed some new rules on crypto. Akshara Singh is here to overview the importance of KYC/AML in the brave new world coming Imagine you are entering your office or organization without your identification card ...

Thailand Plans To Amend the AML Act, Sees Crypto As Threat
Legislation   |   06.08.19  |  

The Anti-Money Laundering Office in Thailand (AMLO) believes that bitcoin and other cryptocurrencies pose a serious threat The Anti-Money Laundering Office of Thailand (AMLO) believes that bitcoin and other cryptocurrencies pose a serious threat: the agency has prioritized paying attention to the ...

EU To Pressure Malta Into Revamping Its AML Framework
Malta   |   01.07.19  |  

... under constant pressure to cater to EU demands , but it seems like the only issue right now is the staffing. Should Malta be able to “import” some major market experts as counsellors, they’d be able to introduce arguably the most crypto friendly AML policy in the European Union. Image courtesy of Cryptocentral

Brazil Tightens Control Over Cryptocurrency Transactions
Legislation   |   20.06.19  |  

The Department of Federal Revenue of Brazil (RFB) has released new rules requiring crypto exchanges to inform the regulator of user transactions The Department of Federal Revenue of Brazil (RFB) has issued new rules requiring crypto exchanges to inform the regulator of user transactions in order to detect tax fraud, Cointelegraph Brazil reports . The guideline states that cryptocurrency trading platforms in Brazil should inform the agency about the movement of users' funds in cryptocurrency and...

Regtech And Suptech: Laws Are New Gold
Forecasts   |   17.05.19  |  

... is not an easy task for both companies and customers. A lot of regtech companies offer their solutions for it. The solution by Trulio KYC is part of the more general regtech direction, which is commonly referred to as “solutions for compliance with AML laws (anti-money laundering laws).” An important part of the application of regulatory technologies is the organization, support, optimization and automation of the process of creating and sending reporting documents. Elliptic offers its services,...

AML And Crypto Transactions Identification Is On The Agenda Of G20 Summit
Legislation   |   05.04.19  |  

... authorities of different governments. It is assumed that countries prepare to accept the inevitable: the fact that decentralized means of data and values sharing ​​will become the norm. The appointment is primarily devoted to the anti-money laundering (AML) and the counter-terrorism financing (CTF) issues. Negotiations on the regulation of cryptocurrency at the global level have been conducted more than once, but so far there are still no unified solutions. Measures aimed at preventing any entity from ...

Binance Labs-backed Koi Trading Has Released New AML Compliance Platform
Innovations   |   13.03.19  |  

... IdentityMind, is intended for use by enterprises providing financial services Koi Trading, the company supported by Binance Labs, in collaboration with the online risk management platform IdentityMind, has announced the release of a product that provides AML compliance-as-a-service. The development was announced in a press release . Koi Compliance is intended to be used as an AML CaaS for enterprises providing financial services. The platform supports the digital currency. It is assumed that its implementation ...

Come Again And Play the Bitcoin Game! TOON #20
Investments   |   07.12.18  |  

... getting data about their financial activities quite often becomes a massive chore. This gives a proper reason to question their honesty, despite the fact that these days pretty much any big exchange asks its clients to perform the ritual dances of KYC and AML. Furthermore - more and more people are thinking that exchanges are messing up the market for their own mysterious gains, while counting their sweet-sweet crypto fees because of the constant transactions back and forth. This is a sole reason why a ...


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