Financial Action Task Force

UK-based crypto firms must now adhere to the Financial Action Task Force's Travel Rule, a global initiative to enforce anti-money laundering and counter-terrorist financing measures on blockchain transactions. Effective Sep. 1, the UK's Financial Conduct Authority (FCA) mandates Virtual...

As the current chair of the G20, India has expressed its support for the Financial Stability Board's (FSB) proposed global framework for cryptocurrencies, which was released in July. The nation has also highlighted the importance of addressing the risks associated with digital assets,...

Kuwait joined the list of jurisdictions implementing a comprehensive ban on cryptocurrencies, including Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), as the country's main financial regulator, the Capital Markets Authority (CMA), issued a circular outlining strict guidelines for...

The United Nations Financial Action Task Force (FATF) has once again called on countries to implement the “travel rule” in order to combat money laundering and terrorism financing associated with cryptocurrencies. What Happened: In a recent post, the global body expressed...

BitFlyer, a cryptocurrency exchange based in Japan, announced on Tuesday that it is introducing stringent measures against money laundering in compliance with the "Travel Rule" initiated by the global financial watchdog, Financial Action Task Force (FATF). The rules mandate sharing...

Dubai's Virtual Assets Regulatory Authority (VARA) has issued a formal warning to the co-founders of the defunct crypto hedge fund Three Arrows Capital for launching and promoting their new digital asset exchange, OPNX, without obtaining the necessary license. The warning was addressed to the...

The International Monetary Fund (IMF) called for a coordinated global response to the risks posed by crypto assets. What Happened: In a board paper, the IMF set out a framework of nine elements to guide members in developing a comprehensive, consistent and coordinated policy response. The...

Cryptocurrency companies located in the United Arab Emirates (UAE) are seeing an unprecedented influx of requests from Russian customers who wish to liquidate billions of dollars worth of cryptocurrency as the Russian ruble plunges due to increasingly harsh economic sanctions. What Happened:...