Elliptic Connect Weekly: Sanctions Compliance in Cryptocurrencies 2023 Report Available Now
Sanctions Compliance in Cryptocurrencies 2023 Report Available Now
Our 2023 edition highlights the increased sanctions activity impacting the crypto space, particularly in the wake of major financial and trade sanctions on Russia following its attack on Ukraine.
Cryptoasset businesses and financial institutions must prepare for an ever-tightening sanctions compliance environment, with enforcement for crypto-related breaches of rules heating up.?
In this report, we set out five key steps to navigate the emerging challenge of cryptocurrency sanctions compliance successfully:
Download your copy now so that you can know exactly how to approach sanctions compliance
Tax Day: Crypto, Tax Crimes, and Money Laundering
Yesterday marked #TaxDay in the US. With the IRS revealing tax crimes involving crypto are growing rapidly, cryptoassets are top of mind for tax watchdogs and revenue authorities around the world.
As rules related to crypto are tightened and criminals engage in increasingly complex money laundering typologies to hide their crypto activity, Elliptic’s David Carlisle shares why it’s important to be alert to crypto-related tax crimes and associated fund flows on the blockchain
France and Hong Kong Signal Need For DeFi Oversight
Financial watchdogs in France and Hong Kong have indicated that decentralized finance (DeFi) services will face growing pressure to meet regulatory requirements, building on similar recent statements from the US.?
This comes just one week after the US Department of the Treasury issued its Illicit Finance Risk Assessment for DeFi. In that report, it argued that the expansion of money laundering, sanctions, and other financial crime activity requires that AML/CFT laws should be applied to more services in the DeFi space.?
Elliptic 10-year Anniversary: the Biggest Crypto Hacks of the Last Decade
March 22nd 2023 marked the 10-year anniversary of Elliptic and the day we pioneered blockchain analytics. Thanks to us, these capabilities are now used routinely by the world’s leading compliance teams, law enforcement agencies and governments.
Blockchain analytics have also been a key weapon in the fight against crypto hacks, which have in recent years been steadily growing in intensity and sophistication.?
In this piece marking Elliptic’s 10th birthday, join us as we explore the biggest crypto heists of the last decade. We will also explain how they happened, and examine the role our solutions have played in exposing the criminal actors involved.
Read the full article
Crypto Scams and Elder Financial Exploitation: Cracking Down on Fraud Targeting the Vulnerable
Unfortunately, fraudsters perpetrating crypto scams sometimes target their crimes at some of the most vulnerable members of society: the elderly.?
Cracking down on fraud in the crypto space is increasingly important for combatting elderly financial exploitation (EFE). And a key tool available to investigators looking to stop fraudsters from exploiting the elderly is the ability to trace the flow of funds from scams on the blockchain.
When a Bank Falls in the US, Does it Make a Sound in Asia?
Last month, a series of failures shook the foundations of the banking sector in the United States. Starting from the voluntary liquidation of Silvergate Bank on March 8th, a run quickly ensued for Silicon Valley Bank (SVB) due to concerns about its stability and over-exposure to the falling value of long-term bonds.?
However, the recent US bank failures may have turned a page in the relationships between banks, their regulators and crypto firms by facilitating closer dialogue.
Ransomware and Crypto: the Growing Compliance Challenge
On March 14th, the Financial Action Task Force (FATF) – the global standard setter for anti-money laundering and countering the financing of terrorism (AML/CFT) – published a landmark report on ransomware.?
David Carlisle analyzes the FATF’s new release, and reveals how compliance officers can stay safe.
From the team?
Country guide
Join us as we explore crypto regulations and legislation in Italy. Here, cryptoassets are not legal tender, therefore acceptance as a means of payment is on a voluntary basis. The Bank of Italy has not yet reported or decided to experiment with the use of a central bank digital currency (CBDC).
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