An October 23rd, 2020 joint press release from the Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve highlights a proposed rule to amend the recordkeeping rule regulations under the Bank Secrecy Act. More specifically it will change the applicable threshold for international transactions subject to AML. Not too long
Latest Regulation News at Crypto Frontline
Even though stablecoins come with more advantages as opposed to traditional cryptocurrencies, reluctance from global regulators continues to be a major headwind for implementing such a project on a global scale. A recent report from Reuters is not favorable for projects like Facebook’s Libra, considering it assumes that G7 central
As cryptocurrencies continue to increase in popularity, the European Commission is out with a new piece of legislation that will apply for cryptocurrency assets issuers. According to the latest information from Reuters, all crypto companies operating within the EU will need to comply with a comprehensive set of rules. Faced
The US Department of the Treasury, in coordination with the DoJ (Department of Justice) and DHS (Department of Homeland Security), had sanctioned Russian nationals in charge of sophisticated phishing campaigns in 2017 and 2018, according to the latest September 16th press release. Their actions had targeted customers of two US-based
The $5.8 billion crypto Ponzi scheme based in China continues to be one of the main headlines, after the arrest of 109 individuals associated with the project. According to Cointelegraph, 6 individuals had been charged after being suspected in organizing and leading criminal pyramid schemes. Around the world, the regulatory
The regulatory requirements for cryptocurrency-related firms in the United Kingdom are about to be expanded, according to a recent consultation paper published by the Financial Conduct Authority (FCA). Just recently we’ve seen how Gemini and Archax had become the first two cryptocurrency exchange platforms to get a license from the
Things are changing in terms of crypto regulation in the United Kingdom and as of August 19th, Archax and Gemini had become the first two cryptocurrency exchange platforms to receive operating licenses from the Financial Conduct Authority. In our last regulatory-related article, we talked about how the UK’s NCSC had
The UK’s National Cyber Security Centre had recently warned the public against online scams promoting celebrity-endorsed investment opportunities, some of them related to fraudulent cryptocurrency schemes. The institution had taken drastic against such websites during the past few months, as scammers target individuals aggressively in the online world. In one
The cryptocurrency market continues to ride a wave of optimism, with valuations reaching new 2020 highs. Even though the momentum does not seem to be fading, for now, market participants need to consider several important aspects, in the long run, one of them being represented by the threat of tight
Based on a July 29th post from the Australian Securities and Investments Commission’s (ASIC) newshub, people are advised to avoid crypto trading scams that use celebrity endorsements fraudulently. Even though Australia is one of the countries that took a proactive approach to regulate the cryptocurrency industry, it looks like there
