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Saudi Arabia Leads MENA in Crypto Growth for Second Year Running

Bitcoin.com
Saudi Arabia Leads MENA in Crypto Growth for Second Year Running
bitcoin.com
Saudi Arabia Leads MENA in Crypto Growth for Second Year RunningSaudi Arabia has emerged as the fastest-growing crypto economy in the Middle East and North Africa (MENA) region for the second consecutive year. Unlike other MENA countries, Saudi Arabia’s and Qatar’s crypto activity primarily stems from decentralized finance platforms. The majority of MENA’s crypto activity is driven by institutional and professional investors. Saudi Arabia’s Youth […]
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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Seychelles Approves Bill on Virtual Asset Regulation

Bitcoin.com
Seychelles Approves Bill on Virtual Asset Regulation
AML
Seychelles Approves Bill on Virtual Asset RegulationThe Seychelles National Assembly has approved a draft bill to regulate virtual asset service providers (VASPs). The bill requires license-seeking VASPs to establish a substantial presence in Seychelles, such as having a resident director and an office with competent staff. The law aims to balance innovation with anti-money laundering efforts, adhering to Financial Action Task […]
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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Peru Issues VASP Regulation, Strengthens AML/TF Requirements

Bitcoin.com
Peru Issues VASP Regulation, Strengthens AML/TF Requirements
AML
Peru Issues VASP Regulation, Strengthens AML/TF RequirementsThe Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF recommendations and seeks to control and avoid criminals to use these platforms for illicit purposes. […]
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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Central Bank of Brazil Aims to Finalize Crypto Exchange Regulation by Early 2025

Bitcoin.com
Central Bank of Brazil Aims to Finalize Crypto Exchange Regulation by Early 2025
bitcoin.com
Central Bank of Brazil Aims to Finalize Crypto Exchange Regulation by Early 2025According to Nagel Paulino, head of the Central Bank’s regulatory department, the Central Bank of Brazil hopes to finalize cryptocurrency market regulations by 2025. The institution will conduct a second public consultation to finalize the drafts, hearing the opinions of market participants in order to tailor these rules to local needs. Central Bank of Brazil […]
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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Three-Quarters of Jurisdictions Partially or Not Compliant with VASP Sector Recommendation, Says FATF

Bitcoin.com
Three-Quarters of Jurisdictions Partially or Not Compliant with VASP Sector Recommendation, Says FATF
bitcoin.com
Three-Quarters of Jurisdictions Partially or Not Compliant with VASP Sector Recommendation, Says FATFThree-quarters of the jurisdictions surveyed by the Financial Action Task Force (FATF) “are only partially or not compliant” with the anti-money laundering recommendation for the virtual assets sector. According to the latest FATF update, 60% (88 jurisdictions) have decided to permit virtual asset service providers (VASPs), while 14% (20 jurisdictions) explicitly prohibit them. The FATF […]
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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Central Bank of Brazil Aims to Finalize Crypto Regulations This Year

Bitcoin.com
Central Bank of Brazil Aims to Finalize Crypto Regulations This Year
bitcoin.com
Central Bank of Brazil Aims to Finalize Crypto Regulations This YearThe Central Bank of Brazil outlined its crypto regulation calendar, defining a three-phase process for finalizing these tasks in 2024. The bank aims to consult market actors regarding VASPs, establish plans to regulate stablecoins and finalize the rules to welcome VASPs into the country later this year. Central Bank of Brazil to Finalize VASPs and […]
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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Taiwan proposes tougher AML measures for crypto service providers

Coin Telegraph
Taiwan proposes tougher AML measures for crypto service providers
aml regulations

Taiwan’s Ministry of Justice proposed four amendments to the country’s AML regulations focused on cryptocurrency firms that plan to impose hefty penalties for noncompliance.

Taiwan wants to amend its Anti-Money Laundering (AML) regulations to combat fraud and AML measures for virtual asset service providers (VASPs). 

Taiwan’s Ministry of Justice has proposed amendments to existing AML laws that could impose jail terms of up to two years for noncompliant firms and fines of up to $1.5 million. The proposed amendments will be sent to Taiwan’s national parliament, the Legislative Yuan, for review.

The “New Four Laws to Combat Fraud” was proposed by Taiwan’s Executive Yuan. The amendments aim to strengthen the crackdown on fraud and strictly regulate money laundering prevention measures for crypto service providers.

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Kenya Establishes Working Group to Draft Rules Governing Crypto Entities

Bitcoin.com
Kenya Establishes Working Group to Draft Rules Governing Crypto Entities
Africa
Kenya Establishes Working Group to Draft Rules Governing Crypto EntitiesThe Kenyan government recently established a multi-agency technical working group tasked with developing a framework for regulating and monitoring the cryptocurrency industry. The group, which includes financial regulators such as the Central Bank of Kenya, is set to draft rules for controlling and monitoring Virtual Asset Service Providers (VASPs). FATF Grey Listing Threat The Kenyan […]
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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Blockchain Advocacy Group Says Nigerian Government’s Actions Could Drive Crypto Activities Underground

Bitcoin.com
Blockchain Advocacy Group Says Nigerian Government’s Actions Could Drive Crypto Activities Underground
Africa
Blockchain Advocacy Group Says Nigerian Government’s Actions Could Drive Crypto Activities UndergroundNigerian blockchain lobby group has said the government’s decision to block access to crypto trading like Binance, Kraken and Coinbase will not “help Nigeria build the much-needed trust and confidence in the financial system.” The advocacy group also said the Nigerian Communications Commission’s directive to telecommunication companies may not be consistent with the “norms of […]
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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

Bitcoin.com
US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto
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US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than CryptoThe U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report warns that defi could threaten national security and calls for policymakers to increase oversight. […]
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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Cosmos co-founder proposes peer-to-peer clearing system in white paper

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