Virtual Currencies
16 December 2019 The Chief Executive All Authorized Institutions Dear Sir/Madam, Managing ML/TF risks associated with virtual assets (VAs) and virtual asset service providers (VASPs) I am writing to provide guidance to Authorized Institutions (AIs) in relation to recent updates by the Financial Action Task Force (FATF) to its Recommendation […]
Businesses dealing in virtual currencies can register with FINTRAC in advance of June 1, 2020 The Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations were amended in June 2019 to cover businesses that deal in virtual currencies. To deal in virtual currencies means to provide virtual currency exchange services […]
New rules for virtual currency and fiat currency exchange providers as well as virtual wallet providers. Pr. January 10, 2020, everyone must be registered with the Danish Financial Supervisory Authority in accordance with the Money Laundering Act. You can already submit your application to the Danish Financial Supervisory Authority. You can […]
Leaders of CFTC, FinCEN, and SEC Issue Joint Statement on Activities Involving Digital Assets October 11, 2019 Washington, DC – The leaders of the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the U.S. Securities and Exchange Commission (the “Agencies”) today issued the following joint statement to […]
FINMA publishes ‘stable coin’ guidelines The Swiss Financial Market Supervisory Authority FINMA today publishes a supplement to its ICO guidelines outlining how it treats so-called ‘stable coins’ under Swiss supervisory law. FINMA has seen a steady increase in the number of ‘stable coin’ projects since 2018. In this context, FINMA […]
Outcomes FATF Plenary, 16-21 June 2019 Send Print Tweet Orlando, 21 June 2019 – FATF President Marshall Billingslea of the United States, chaired the third and last Plenary meeting under the U.S. Presidency in Orlando on 19-21 June 2019. During this Plenary, delegates celebrated the 30th Anniversary of the FATF. In recent […]
New FinCEN Guidance Affirms Its Longstanding Regulatory Framework for Virtual Currencies and a New FinCEN Advisory Warns of Threats Posed by Virtual Currency Misuse Contact Public Affairs, 703-905-3770 Immediate Release May 09, 2019 WASHINGTON—To provide regulatory certainty for businesses and individuals engaged in expanding fields of financial activity, the Financial Crimes […]
Cybercrime Squad and AUSTRAC remind digital currency exchanges of reporting obligations 8 March 2019 This is a joint media release between the NSW Police Force and AUSTRAC. The NSW Police Force and the Australian Transaction Reports and Analysis Centre (AUSTRAC) are reminding digital currency exchange providers to be aware of […]
FinCEN Penalizes Peer-to-Peer Virtual Currency Exchanger for Violations of Anti-Money Laundering Laws Immediate Release April 18, 2019 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty against Eric Powers for willfully violating the Bank Secrecy Act’s (BSA) registration, program, and reporting requirements. Mr. Powers failed to register as a […]
FINMA ascertains illegal activity by envion AG The Swiss Financial Market Supervisory Authority FINMA has found that envion AG (now in liquidation) unlawfully received public deposits on a commercial basis from at least 37,000 investors. The company is currently being liquidated by the Zug bankruptcy authority. In March 2019, FINMA […]
