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FinCEN and OCC address cryptocurrency: responsible innovation and pervasive hype

CFPB Monitor

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.” Responsible Innovation “.

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B2B Payments Drive Instant Payments, Crypto Innovation

PYMNTS

New payment rails are once again in the spotlight as real-time payments and cryptocurrency emerge as the top focuses for innovators. In this week’s look at payment rails innovation, the European Union begins paving the way for greater crypto adoption, while Mastercard expands its own crypto accelerator initiative.

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New York To Ease Cryptocurrency Regulations

PYMNTS

It will be easier for New York cryptocurrency businesses to launch in New York, thanks to a plan by regulators that would ease licensing rules. The existing licensee would provide the startup with the operational, staffing, and other support until it can obtain a full DFS virtual currency license.

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Payment Rail Innovators Dive Into Real-Time

PYMNTS

This week's look at payment rail innovation is all about speed, both for legacy rails and new ones. Combining these elements, we are creating a broad platform with faster technology and smarter and better services that the industry can trust as a foundation for innovation towards their own end-clients," he added.

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Japanese Cryptocurrency Exchange bitFlyer Launches in Europe

Bank Innovation

Japanese cryptocurrency exchange bitFlyer today announced its launch in Europe. said it received a Payment Institution (PI) license to operate in the European Union. bitFlyer, the first Bitcoin exchange to be regulated in Japan and the U.S.,

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Japan’s Government Warns on Cryptocurrency Trading After Coincheck Hack

Bank Innovation

Japanese authorities are investigating all cryptocurrency trading after last week’s hacking of cryptocurrency exchange Coincheck. According to a Reuters report, yesterday the Financial Services Agency (FSA) ordered improvements to operations at Coincheck.

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The United States May License Bitcoin and Cryptocurrency Exchanges

Bank Innovation

The Acting Comptroller of the Currency of the United States, Keith Noreika, has stated that he is considering imposing a nationwide licensing program for cryptocurrency exchanges, similar to the licensing program recently enacted in Japan. Last week, Japan’s […].