Home Coins AMLT (AMLT) This Week in Crypto Compliance and Regulations – Coinfirm

This Week in Crypto Compliance and Regulations – Coinfirm


Global Regulations, 18th September – Coinfirm has a fast glance on the past week’s global compliance and regulatory news affecting our stakeholders.

China’s BSN ‘Localizes’ 24 Public Blockchains

The state approved blockchain infrastructure project of China, the Blockchain-Based Service Network (BSN), is planning to make 24 public chains available for dapp creation with an emphasis on fintech solutions. – READ MORE

Paxful Shutters Operations in Venezuela in Compliance with US Sanctions

Paxful, a Peer-to-peer Bitcoin exchange has given users 30 days to withdraw funds after the firm announcing it was winding down its Venezuelan operations, citing compliance with United States sanctions against the Maduro regime. – READ MORE

Nigerian SEC Issues Guidelines for Crypto

The Nigerian Securities and Exchange Commission (SEC) has issued wide-ranging regulations covering Digital Assets Token Offerings (DATO), Initial Coin Offerings, Security Token ICOs and other offerings most related to financial securities to better protect investors. – READ MORE

Australia Refutes Need for CBDC

The Reserve Bank of Australia (RBA) has said that there is no need for the central bank to go for a Central Bank Digital Currency, unlike China, Sweden, and Canada. In the RBA’s view a CBDC could have negative impacts on commercial banks saying that “the loss of deposit funding and greater reliance on other funding sources could result in some increase in banks’ cost of funds and result in a reduction in the size of their balance sheets and in the amount of financial intermediation.” – READ MORE

Gibraltar Revamps Distributed Ledger Guidance to Match FATF Crypto Rules

Gibraltar’s Financial Services Commission (GFSC) updated it’s distributed ledger guidance on 7 out of 9 guiding principles that were set up. The updates come closer into line with the FATF’s own guidelines. – READ MORE

Leaked EU Draft Proposes All-Encompassing Laws for Crypto Assets

Coindesk reports that Europe’s Markets in Crypto-Assets (MiCA) draft legislation provides legal certainty around crypto assets – cryptocurrencies, security tokens and stablecoins – along the same lines as Europe’s Markets in Financial Instruments Directive (MiFID), a legal framework for securities markets, investment intermediaries and trading venues. – READ MORE

FATF Releases VA Red Flag Indicators Report

The FATF have released a new report titled “Virtual Assets Red Flag Indicators of Money Laundering and Terrorism Financing” with indicators detailed related to; transactions, transaction patterns, anonymity, senders/recipients, source of funds/wealth and geopolitical risks.

About Coinfirm
Coinfirm is a global leader in AML and regulatory technology for blockchain and cryptocurrencies. It offers the industry’s largest blockchain coverage, supporting over 1,400 cryptocurrencies and protocols including Bitcoin, Ethereum, Hyperledger, and many more. Coinfirm’s solutions are used by market leaders globally, ranging from crypto exchanges such as Binance, and protocols like XRP, to major financial institutions like PKO BP. The company’s services also include Reclaim Crypto, as well as Trudatum, a standalone regtech platform that allows any file to be registered, signed, and verified with 100% accuracy. For more information, please visit: https://www.coinfirm.com/



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