crypto regulatory compliance
Crypto Treasury Firms Mirror Tech Bubble Risks as Market Cap Soars
The cryptocurrency industry faces a stark warning as treasury management firms, handling billions in digital assets, show alarming parallels to the dot-...
CipherTrace Unveils New Compliance Software For Banks Against Illicit Crypto Transactions
CipherTrace launches Armada to fix the blind spot in cryptocurrency compliance
HSBC Chief Legal Officer Stuart Levey Gets Appointed as Libra’s New CEO, Expert in Dealing with Regulatory Backlash
The Libra Association appointed its first CEO, Stuart Levey, the Chief Legal Officer at HSBC Holdings. Levey will be overseeing the Libra digital currency and payments system and holds a strong compliance track record and is expected to join Libra in the coming months. However, HSBC has not shown the same upright compliance record. Levey is also expected to “combine technology innovation with robust compliance and regulatory framework.” The Facebook-led project has invited scrutiny from global regulators, with concerns over its threat to national sovereignty with its potential launch. Many of Libra’s original members, including Vodafone, PayPal, and Visa have also chosen to leave the association.
Binance Follows Bybit in Appointing Top Compliance Official
Maxwell Baucus, former U.S. senator and ambassador to China, has joined Binance. The top official will become policy advisor and government liaison to the exchange. Given Baucus’s influence in US political circles, the move should support Binance’s expansion efforts within North America, where its Binance US platform operates.
Libra Appoints New Chief Compliance Officer, Third C-Suite Executive Appointed with a Strong Compliance Track Record
The Libra Association appointed Sterling Daines as its new Chief Compliance Officer, who is currently the Managing Director and Global Head of Financial Crime Compliance at Credit Suisse. He is expected to leave his position at Credit Suisse and join the Libra Association later this year. Prior to Credit Suisse, he was the Managing Director and Deputy Head of Financial Crime Compliance at Goldman Sachs and has worked as a consultant to the US Department of Justice and the Financial Crimes Enforcement Network (FinCEN).
Bittrex Leverages Chainalysis KYT Tool to Enhance Security and Regulation Compliance
Cryptocurrency exchange Bittrex will use Chainalysis Know Your Transaction (KYT) to meet new and existing regulatory and compliance standards, and establish a safer, more secure platform for their users.
The Cayman Islands Creates Regulatory Framework to Attract Virtual Asset Business
The Ministry of Financial Services of the Cayman Islands announced that it is building regulatory frameworks for individuals and entities that offer digital assets in business.
The Algorand Foundation to Integrate Chainalysis KYT for Transaction Monitoring and Compliance
The Algorand Foundation will be leveraging Chainalysis’ Know Your Transaction (KYT) for transaction monitoring and compliance processes after its integration.
Matrixport's Evolved Enterprise-Grade Cactus Custody and Holistic Approach to KYT and AML Compliance
Matrixport is a Singapore-based cryptocurrency startup which was launched by former Bitmain CEO Jihan Wu. Established in July 2019 with the goal to offer over-the-counter trading, lending and custody services for crypto, Matrixport boasts a systematic security model, global distributed infrastructure and business-focused security innovation capability to assure the security and reliability of users' assets.
Crypto & the FATF: ING Develops Travel Rule Protocol for Tracking Crypto Transfers Ahead of FATF Plenary Meeting
The FATF has a wide range of recommendations, a total of 40 to ensure regulatory alignment between the compliance imposed on financial institutions and the regulations in its member states. The FATF Travel Rule is Recommendation 16, which has received a lot of attention from the crypto industry, especially virtual asset service providers (VASPs).
Renault Deploys Blockchain for Vehicle Compliance Certification from Design to Production
Renault, a leading French automobile manufacturer, has established the XCEED blockchain system to ensure compliance of all car parts from design to production.
Traversing Through the Crypto Regulatory Landscape in 2019
Blockchain and crypto regulation has seen its ups and downs in 2019, with endless regulators evolving along with the realm of the new technology development and use cases. From countries that view blockchain as a threat to learning to embrace the technology; let’s have a look at some of the major regulatory changes in 2019.
Nigeria Eyes New Regulatory Framework to Boost Crypto and Blockchain Adoption
Nigeria’s Ministry of Finance is collaborating with the nation’s capital market watchdog, to provide a new regulatory environment for the blockchain and crypto space.