PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. Cloud-based KYC activities were among the new technologies most used by U.S.

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PYMNTS

AUGUST 22, 2019

Austria’s major telecommunications firm A1 is now accepting payments in cryptocurrency as part of a pilot project, the company said in a recent blog post. He noted that this emergence has crept into just about every major economic sector, and as more people buy cryptocurrency, cash becomes obsolete.

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cryptocurrency Compliance Bitcoin Operations 152

PYMNTS

JUNE 9, 2020

Blockchain analysis company Chainalysis has rolled out compliance and investigative services for the Zcash and Dash digital currencies, according to an announcement. Chainalysis said digital currency firms can now bring the two cryptocurrencies into their compliance initiatives through its support.

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cryptocurrency Bitcoin Compliance Analysis 131

PYMNTS

DECEMBER 26, 2019

Chinese technology company Tencent has announced it’s going to start researching cryptocurrency and its implications for an ongoing project in blockchain, according to reports. In China, a number of companies , including Tencent, were recently ordered to clean up policies on the way their apps deal with user information, or face penalties.

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PYMNTS

JULY 30, 2019

Blockchain-based payment system PumaPay has announced the launch of a new cryptobilling solution which has secured PCI (payment card industry) compliance. And Australia’s government has decided to exclude digital currencies from new restrictions on cash payments.

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PYMNTS

SEPTEMBER 14, 2020

The United States may have some of the world's best cryptographers working for the National Security Agency and other spy shops, but the Internal Revenue Service (IRS) is crowdsourcing at least part of its effort to beat the algorithms that cloak information about certain cryptocurrencies. 1 have just taken effect.

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blockchain cryptocurrency Bitcoin Compliance 160

PYMNTS

JULY 15, 2019

The rapid growth of cryptocurrency has come with closer scrutiny and a call for tighter anti-money-laundering (AML), know-your-customer (KYC) regulations. The anonymous nature of cryptocurrency, coupled with its irreversible transactions, is especially attractive to scammers and fraudsters.

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cryptocurrency Regulation Guidelines User Experience 129

PYMNTS

OCTOBER 12, 2020

Aave , an Ethereum-based loan protocol, has raised $25 million in a funding round, according to a report from Crypto News. Aave recently announced its governance model to help the community access more participation, with old Aave token LEND now able to be swapped for the new Aave token at a ratio of 100 LEND to 1 Aave.

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Bitcoin Compliance Lending Regulation 261

PYMNTS

NOVEMBER 29, 2018

MovieCoin aims to deploy blockchain, smart contract and cryptocurrency technologies in a wide range of use cases, all geared toward the global movies and entertainment market — one that Grand View Research recently estimated to be worth nearly $1.15 trillion by 2025.

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PYMNTS

APRIL 26, 2019

The end of a busy week provides a chance to catch up on the biggest news from the world of digital payments and commerce – news, trackers and even fun stories you may have missed. But it turns out you can use the cryptocurrency in an effort to sway an election. Welcome to the PYMNTS Weekender. We hope you enjoy. Top Stories.

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PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. Take cryptocurrencies, for instance. Compliance and risk officers have the unenviable task of finding out, sometimes after the fact, that not all the boxes are checked — if they even knew the boxes were there for checking in the first place.

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PYMNTS

AUGUST 27, 2018

The initial verdicts of General Data Protection Regulation (GDPR) are in, at least in terms of compliance – or lack thereof. In news this past week, studies have shown that compliance rates are indeed low, three months in. are in compliance. How low are the rates? A bit of optimism: Progress is, well, progressing.

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PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. In a recent interview with PYMNTS, Bankera Co-founder Vytautas Karalevi?ius As Karalevi?ius

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PYMNTS

SEPTEMBER 10, 2019

Netki announced that it has upgraded its digital identity service so that cryptocurrency firms can meet AML recommendations by the Financial Action Task Force (FATF) for fighting money laundering. In other news, crypto trading platform BitMEX has lost its chief operating officer (COO).

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American Banker

JUNE 7, 2023

This week in global news: JPMorgan Chase works on blockchain in India, U.K. reps want faster crypto regs and more.

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PYMNTS

JULY 15, 2020

with an app and debit card, is expanding its range of services into the realm of cryptocurrency trading with a big assist from Paxos. said Revolut is its first customer for its new product, the Paxos Crypto Brokerage. European FinTech Revolut, which recently debuted in the U.S. In a Wednesday (July 15) press release, Paxos Trust Co.

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PYMNTS

FEBRUARY 19, 2020

The IRS has invited cryptocurrency groups to meet for a regulatory summit March 3 to discuss how the two can work together going forward, published reports said Tuesday (Feb. The IRS has been trying to combat cryptocurrency tax evasion, and the agency has been working on establishing more concrete guidelines for digital currencies.

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PYMNTS

AUGUST 23, 2019

An unnamed faction of the coalition of 28 organizations called on by Facebook to help bring Libra to fruition, including Visa and Mastercard, are reportedly looking for ways to distance themselves from the company after intense worldwide regulatory scrutiny regarding the proposed cryptocurrency. Adyen Gains Traction With Mid-Market Firms.

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PYMNTS

DECEMBER 16, 2020

American Express Ventures has invested in cryptocurrency exchange platform FalconX , according to a press release. FalconX offers its institutional clients an integrated platform that services cryptocurrency trading, clearing and credit. In other news, the U.S. users to avoid running into potential compliance issues.

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blockchain Bitcoin cryptocurrency United States 151

PYMNTS

JUNE 28, 2019

Facebook’s Libra cryptocurrency plans continued to dominate the week’s news, but Visa and Bank of America both made big news, and new PYMNTS research dug deep into the problems of HBO and Netflix subscriber churn and PSD2 challenges. Meanwhile, P2P payments are seeing a new area of growth.

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American Banker

JUNE 14, 2023

This week in global news: Stripe joins the MACH Alliance, GoCardless downsizes, CBA battles crypto crooks and more.

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PYMNTS

AUGUST 16, 2020

Now, with an update, it also wants to direct the Department of Business Oversight to look into how treating them as securities for a little while would impact consumer protections, benefits to the state and what the minimum requirements would be to enact the new changes.

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PYMNTS

FEBRUARY 18, 2019

Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. Perhaps the most poignant moment in this evolution came about last week when JPMorgan Chase announced the development of the JPM Coin, the first bank-backed cryptocurrency in the U.S.,

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PYMNTS

OCTOBER 13, 2016

Regulation and compliance can be a tough space for many to wrap their heads around. Sunil Madhu , founder and CEO of Socure , joined Karen Webster to give context to some of the compliance concepts trending in the industry and also share his thoughts on what’s coming next down the regulatory pipeline. Compliance Decoded.

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PYMNTS

SEPTEMBER 28, 2017

In retail news, it’s a good day to be Overstock.com. According to reports from CNBC, the market is reacting favorably to the news that Overstock’s subsidiary tZero is joining the business of trading digital coins. In a news release by Overstock, the company explained the system is compliant with both U.S.

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cryptocurrency Regulation System Washington 101

Perficient

MAY 25, 2023

First, as digital asset securities, should the SEC classify digital assets such as cryptocurrencies and NFT as securities rather than derivatives, Promethium will be well positioned to offer the related custody services. The approval allows Promethium to custody digital asset securities on behalf of both retail and institutional clients.

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cryptocurrency United States Retail Security 251

PYMNTS

OCTOBER 16, 2018

In the midst of cryptocurrency trading volatility, one more bank has backed away from a trading project — this time it is Barclays. As reported by sites such as Financial News , the investment firm has scrapped plans to bring to market a cryptocurrency trading project. The plan is now “ on ice ,” according to reports.

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cryptocurrency Compliance Strategy Marketing 134

PYMNTS

AUGUST 23, 2019

Traki customers will be able to use various cryptocurrencies as payment options for the retailer’s products. Traki has been one of the early adopters of cryptocurrencies in Venezuela, which highlights its commitment to improve the traditional financial system,” Zac Cheah, co-founder and CEO of Pundi X, said in a press release. “At

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PYMNTS

SEPTEMBER 8, 2020

European crypto exchange Eterbase has announced a hack, affecting hot wallets for six of its listed cryptocurrencies and allowing hackers to make off with $1.6 billion in assorted cryptocurrencies, CoinDesk reported. In other news, Hong Kong's Diginex has raised $20 million as a funding round from private investors, Bloomberg reported.

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PYMNTS

FEBRUARY 13, 2020

The funding will enable Elliptic to expand across Asia and collaborate with financial institutions for an increased understanding of the cryptocurrency ecosystem. Elliptic, founded in 2013, has become known for cryptocurrency platform tools that help find and block illicit transactions.

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PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

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Fraud Compliance cryptocurrency Security 270

PYMNTS

SEPTEMBER 8, 2019

Founder Jack Dorsey said in an interview he has no interest in developing a cryptocurrency for either Twitter or Square , according to The Sydney Morning Herald. As I look at all cryptocurrencies that could fill that role of being the native currency for the internet, [Bitcoin is] a pretty high probability.”.

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cryptocurrency Bitcoin Compliance National 167

Abrigo

DECEMBER 28, 2022

Cybercrime, sanctions compliance, and cryptocurrency troubles are bound to be trends for anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud professionals to track in the coming months. Others explain common and emerging fraud trends that compliance staff are working to prevent.

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Fraud Training Compliance Regulation 195

PYMNTS

SEPTEMBER 8, 2020

European crypto exchange Eterbase has announced a hack, affecting hot wallets for six of its listed cryptocurrencies and allowing hackers to make off with $1.6 billion in assorted cryptocurrencies, CoinDesk reported. In other news, Hong Kong's Diginex has raised $20 million as a funding round from private investors, Bloomberg reported.

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Bitcoin cryptocurrency Fintech Software 131

PYMNTS

OCTOBER 13, 2020

And, while terrorist use of cryptocurrency is still evolving, certain terrorist groups have solicited cryptocurrency donations running into the millions of dollars via online social media campaigns.”. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year.

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cryptocurrency United States social media Regulation 206

PYMNTS

FEBRUARY 20, 2019

It will also help us bring more cryptocurrencies and features to more people, while helping ensure compliance with local laws and regulations.” ” In other news, new information has shown that Bitmain lost about $500 million in the third quarter of 2018.

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Bitcoin cryptocurrency blockchain United States 164

PYMNTS

DECEMBER 29, 2020

Paul Grewal , chief legal officer of the cryptocurrency trading platform Coinbase, said in a press release that trade limits went into effect on Monday (Dec. Factors like security and compliance are considered as well as the platform’s goal of developing an “open financial system for the world.

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cryptocurrency blockchain Security Compliance 169