Crypto Compliance Weekly Round-Up
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Coinfirm is pleased to announce our partnership with 21 Analytics, a leading crypto FATF Travel Rule solution provider and ecosystem builder. Plus, take a look at our Estonia Crypto Regulations 2022 and download our Crypto AML Compliance 101!
In other crypto compliance industry moves; Singapore grants crypto licenses, Israel releases the results of its CBDC experiments, and the BIS publishes its Annual Economic Report.
Estonia Crypto Regulations 2022
Coinfirm’s Regulatory Affairs departments look into the Estonia crypto regulations - AML/CFT stipulations, licensing requirements of virtual currency service providers and more in 2022.
Crypto AML Compliance 101
Download Coinfirm's crypto AML compliance 101 to learn more about compliance requirements in the crypto asset sector.
Barbara Halasek, Head of Regulatory Affairs Speaks to the Money Laundering Bulletin on Crypto Transactions Involving Mining
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"There are three reasons to pay miners an extra fee. The first is legitimate - to, for example, take advantage of exchange movements when trading high volumes of crypto assets. The second is unwittingly choosing a higher fee - clicking on a transaction acceleration option by mistake. The third reason is more suspicious - possible overpaying to clean criminal money."
Coinfirm and 21 Analytics Join Forces to Streamline Crypto RegTech Compliance
Coinfirm is proud to partner with 21 Analytics, a leading crypto FATF Travel Rule solution provider and ecosystem builder.
“Adhering to the FATF’s Travel Rule is a key compliance requirement for VASPs and FIs to trust their counterparties. With this cooperation, the transparency of our ecosystem will be strengthened by deploying 21 Analytics' streamlined Travel Rule software solution with our partners and clients in line with FATF’s Recommendation 16 guidelines.”?– Dr. Mircea Mihaescu, CEO of Coinfirm.
Compliance Industry Moves
Singapore Grants In-Principle Licenses to Crypto.com, Two Others. The firms will be able to offer services to Singapore-based customers if granted full licenses. Read more >>
Bank of Israel Experiments With Central Bank Digital Currency Smart Contracts and Privacy. The Israeli central bank looked at trust issues and policy decisions implied in a potential digital shekel, as well as some of the technical aspects of digital currency. Read more >>
CBDCs, Not Crypto, Will Be Cornerstone of Future Monetary System, BIS Says. A 42-page chapter in the Bank for International Settlements’ annual economic report envisions a future where programmability and tokenization are built on top of central bank digital currencies. Read more >>
Digital Dollar Would Secure Greenback as Global Reserve Currency, Lawmaker Argues. Rep. Jim Himes published a 15-page white paper arguing in favor of a digital dollar. Read more >>
Chinese Court Invalidates 2019 Car Sale Made Using Now Worthless Crypto Token. It appears that not only was the sales contract invalidated, but the buyer paid for the car with a questionable digital token in the first place. Read more >>
It is great to be part of it. Together building safer ecosystem.