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Crypto 2020: One Step Up; Two Steps Back

PYMNTS

If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies.

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Buying into AML risks in real estate

Abrigo

Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. The limited regulation around the real estate industry has made it especially easy for these bad actors to cycle their dirty money into the financial system using this avenue.

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Bitcoin Futures Rollout In Jeopardy

PYMNTS

Intercontinental Exchange ( ICE )’s plans to launch bitcoin futures in November of last year have been delayed because of regulators. According to the paper, what’s holding up approval is a disagreement about how Bakkt (the name for the bitcoin futures) should be regulated. Back then it was trading near $20,000.

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Five At Five: Mastercard Makes A Biometric Bet

PYMNTS

Today’s stories include a new mark in the evolving relationship between payments and biometrics, along with a look at possible new regulation for digital currency. Ether In The Crosshairs Of Regulators. Regulators in the U.S. are considering the regulation of digital tokens outside bitcoin.

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FinCEN Tightens Real Estate Cash-Buyer Reporting Threshold

PYMNTS

While the previous purchase amount threshold varied by city, it’s now set at $300,000 for each metropolitan area, covering certain counties within the following major locations: Boston, Chicago, Dallas-Fort Worth, Honolulu, Las Vegas, Los Angeles, Miami, New York City, San Antonio, San Diego, San Francisco and Seattle.

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Virtual Currency Case Could Determine CFTC?s Power Over Crypto

PYMNTS

Commodity Futures Trading Commission (CFTC) has the power to fight fraud centered around cryptocurrencies. According to Reuters , lawyers not involved in the suit say that this case could determine CFTC’s oversight of cryptocurrencies, which are not backed by any central bank.

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Facebook And Google Payments Efforts Top Week’s News

PYMNTS

Users of Facebook Pay , which the company said is not related to its proposed cryptocurrency Libra, will be able to enter a preferred payment method and then use the option to eventually pay throughout all of the related apps. Amazon To Build $40M Robotics Innovation Hub Near Boston. Deutsche Bank told U.K. Money Laundering Epidemic.

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