PYMNTS

SEPTEMBER 26, 2018

The initial coin offering (ICO) has emerged as a corporate financing trend just as volatile as many of the cryptocurrencies themselves. It marked the first drop in ICO funding in more than a year, according to Bloomberg reports, citing a correlation between ICO funding declines and drops in cryptocurrency values. This week, U.S.

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PYMNTS

JANUARY 26, 2021

Signal is exploring the idea of adding cryptocurrency payments into its messaging app by integrating MobileCoin , a cryptocurrency supported by the Stellar blockchain, Platformer reported. Signal CEO Moxie Marlinspike “played down,” the cryptocurrency developments, telling Platformer it was only some “design explorations.”.

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Perficient

DECEMBER 27, 2023

Navigating AML and OFAC Compliance Risks Regarding anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) compliance risks, bank executives must navigate operational and compliance challenges tied to fintech relationships. Manage third-party risks, especially for relationships involving higher-risk or critical activities.

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PYMNTS

NOVEMBER 4, 2020

The seizure stemmed from a cryptocurrency fraud scheme being investigated by Brazilian federal police called Operation Egypto. They reportedly held the funds in a way that would've mandated regulation under Brazilian law, with which Fagundes and the others allegedly didn't comply.

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PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept. This in the wake of the OCC’s Sept.

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PYMNTS

OCTOBER 13, 2020

Department of Justice, which said in a report that rogue nations and other risks loom as exchanges are lightly (or not at all) regulated – making it difficult to, as the maxim goes, follow the money. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. In the report from the U.S.

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PYMNTS

MARCH 15, 2020

The New York Department of Financial Services ( NYDFS ) sent a letter to the approximate 18 cryptocurrency firms it regulates saying they have 30 days to submit a contingency plan in the face of the coronavirus epidemic. We have a standing Crisis Management Team continually reviewing new information as it comes in.

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PYMNTS

JANUARY 18, 2022

The CEO and CFO of the BitMEX cryptocurrency derivatives exchange announced today that they have reached an agreement to purchase a 268-year-old German bank in order to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.”. user ban.”.

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PYMNTS

JULY 21, 2020

Crypto boosters have spent the better part of the past decade promoting the idea that great fiat-currency disruptions are coming care of blockchain and literally hundreds of thousands of variations of cryptocurrency circulating in the world today. Or at least they didn’t until now. Crypto’s Path To Spendability.

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PYMNTS

JULY 9, 2019

India, Asia’s third-largest economy, remains skeptical about Facebook’s proposed cryptocurrency Libra and has said that it won’t just allow the coin into the country, according to a report by Bloomberg. But whatever it is, it would be a private cryptocurrency, and that’s not something we have been comfortable with.”. “But

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PYMNTS

AUGUST 30, 2019

Elwood Asset Management — owned by British billionaire and Brevan Howard Founder Alan Howard — is planning a $1 billion venture into the crypto hedge fund space. The asset manager is developing a platform that would tailor portfolios of cryptocurrency funds for institutional investors, the Financial Times reported on Aug.

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Abrigo

DECEMBER 19, 2022

Checklists, guides, and more to help you and your AML-CFT staff Thousands of FinCrime professionals have accessed these guides, checklists, and other resources produced in 2022 by Abrigo's team, which includes former bankers, BSA officers, and regulators. . Would you like other articles like this in your inbox? From crypto to cannabis.

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PYMNTS

JANUARY 27, 2020

Australia is pushing ahead with a cryptocurrency exchange in Singapore, according to the Independent Reserve on Friday (Jan. Przelozny referenced “a number of positive moves by Singaporean regulators” as part of his reasoning. AT&T says a lawsuit over a $1.8 million crypto hack fails to show how the U.S.

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PYMNTS

JULY 16, 2019

Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat. Mnuchin added that the Treasury has informed Facebook, as well as other cryptocurrency users, that they need to implement the same anti-money-laundering and counter-terrorism safeguards as other financial institutions.

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CFPB Monitor

JULY 27, 2020

cryptocurrency custody services on behalf of customers, including by holding the unique cryptographic keys associated with cryptocurrency.” Through intermediated exchanges of payments, banks facilitate the flow of funds within our economy and serve important financial risk management and other financial needs of bank customers.

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PYMNTS

JULY 15, 2019

billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk. More than $1.2 Thwarting fraud and making usage as secure as possible are key concerns for Canadian trading platform Bitbuy. Facing Fraud.

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PYMNTS

OCTOBER 30, 2018

Coinbase, the cryptocurrency exchange operator, has raised a fresh round of funding that gives it a valuation of more than $8 billion. The latest round of funding implies investors are still interested in the cryptocurrency market despite the steep declines in the price of many of the digital tokens. ”

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Perficient

SEPTEMBER 16, 2022

The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act. Additionally, the Federal Reserve’s Supervisory Letter also encourages financial institution executives to notify their state regulators prior to engaging in any crypto-asset-related activities. The Home Owners’ Loan Act.

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PYMNTS

MARCH 7, 2018

Japan’s Financial Services Agency is sending what Reuters terms “administrative punishment notices” on several of the nation’s cryptocurrency exchanges and some may be forced to suspend operations, the newswire reported , citing Nikkei’s business daily.

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PYMNTS

SEPTEMBER 29, 2020

29) announced a deal for the AML platform of Beam Solutions , a San Francisco-based startup that focuses on transaction monitoring and helping financial companies comply with KYC regulations. Another key component of the platform is helping companies manage various KYC and AML regulations in different jurisdictions across the world.

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PYMNTS

AUGUST 28, 2019

Kadena’s existing blockchain clients include $3 billion asset manager USCF Investments, healthcare technology company Rymedi, and leading Latin American technology business Alteum, as well as one of the world’s top 100 largest banks, and Fortune 500 companies. “SEN SEN allows our institutional customers to deposit and withdraw U.S.

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PYMNTS

SEPTEMBER 30, 2019

Scrutiny of tech firms is spreading across the globe, hinting at broader regulations over privacy and, possibly, bigger tax bills. As reported last week , Haruhiko Kuroda, the Bank of Japan governor, on Tuesday, said that international regulators must cooperate when it comes to regulating stablecoins like Libra, Reuters reported.

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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. Those read most often in the past year include several that offer practical advice for operating AML and fraud programs.

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PYMNTS

AUGUST 27, 2020

In other news, LVC Corporation , which operates LINE, is announcing the launch of two new products: LINE Blockchain Developers, a developer platform for blockchain services; and the BITMAX Wallet, for managing digital assets, a press release stated. The aggregator was banned other times, including in 2017.

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PYMNTS

APRIL 6, 2018

The head of two cryptocurrency exchanges in South Korea were detained by law enforcement for allegations they embezzled the assets of customers. Coinnest apologized on its website for “causing grave concern” and saying it has removed the managers from overseeing company business. “We

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PYMNTS

OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. Late last month, SEBA Crypto, a Swiss startup, raised $103 million to establish a bank that offers cryptocurrency-related financial services, Reuters reported. “Time is pressing,” he said.

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PYMNTS

JUNE 18, 2020

VMware Head of Cybersecurity Strategy Tom Kellermann said that extremist groups, beyond organized crime, are known to harness alternative payments infrastructure to fundraise and for “operational purposes.” This raises the necessity of increased regulation of digital money,” he said, per the outlet.

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PYMNTS

JANUARY 7, 2020

In other crypto news , cryptocurrency tax automation software TaxBit has raised $5 million in funding. Investors in the venture include TTV Capital, Dragonfly Capital Partners, Collaborative Fund, Winklevoss Capital, Valar Ventures, Global Founders Capital, Table Management, Album VC and more. .

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PYMNTS

MARCH 3, 2020

In today’s top news, Apple manufacturer and supplier Foxconn has returned to production, the Department of Justice charged two Chinese nationals with laundering over $100 million in cryptocurrency, and TurboTax’s deal to buy Credit Karma has sparked antitrust concerns. Apple Parts Maker Foxconn Back To Work In China.

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PYMNTS

APRIL 16, 2018

Coinsecure, a cryptocurrency exchange based in India, said Monday (April 16) that roughly $3 million worth of bitcoin were stolen from the company’s bitcoin wallet. Reuters reported that the theft stands among the largest in the country’s nascent cryptocurrency arena and might have the impact of dampening trading activity.

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PYMNTS

JUNE 18, 2019

For bitcoin — and for cryptocurrency brethren — a stretch of calm before the storm? The official debut of a new cryptocurrency, Libra , may have stalled a rally in the marquee name in digital coins. Similarly, some other cryptos of note, among them ethereum (the second largest cryptocurrency as measured by market cap, at $28.5

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PYMNTS

AUGUST 23, 2018

The Chinese government has a complicated relationship with cryptocurrency: While it seems to be enthusiastic about the applications of blockchain technology, the country has banned initial coin offerings (ICOs) and blocked crypto trading sites. Why WeChat?

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PYMNTS

MARCH 23, 2018

The drop came as news surfaced that Japanese regulators were scrutinizing cryptocurrencies. While Ben offers users the ability to buy and sell bitcoin, he can also teach them about cryptocurrency and can read industry news. the British government is planning on creating a new cryptocurrency task force, The Next Web reported. “[The]

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PYMNTS

DECEMBER 29, 2020

Whether it’s simple online purchases or banking, or more complex areas like cryptocurrency or money laundering, Trevor Wingert , a senior know your customer (KYC) and anti-fraud solutions consultant for GeoGuard , told PYMNTS that rapidly changing use cases and technology highlight gaps in the current security approaches being used. “So

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PYMNTS

SEPTEMBER 11, 2019

Cryptocurrencies — Facebook’s Libra included — face at least some new headwinds as they target a mainstream embrace. The official said she was planning to meet with the Swiss financial regulator, FINMA, this week, in discussions that according to Coindesk would focus on anti-money laundering (AML) efforts. On Wednesday (Sept.

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PYMNTS

OCTOBER 14, 2018

Other cryptocurrencies had an even worse week: Ether, the second-largest cryptocurrency by market capitalization, dropped 12 percent, while the third largest, XRP, is down 18 percent in seven days. and Canadian securities regulators. Both products would be created with the foundation of decentralized identifiers (DIDs).

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PYMNTS

AUGUST 3, 2020

One financial technology firm currently navigating the process of securing a bank charter is Avanti Financial Group , and as it approaches market launch, Founder and CEO Caitlin Long said the firm is focusing on another area of financial services that has struggled to manage complex regulatory challenges: digital assets.

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