Philippines to Issue Tokenized Treasury Bonds for the First Time
The Philippines Bureau of the Treasury announced it would offer 10 billion pesos ($179 million) of one-year tokenized treasury bonds for the first time after canceling the traditional auction scheduled for Nov. 20. The Philippines Bureau of the Treasury (BTr) has decided to issue tokenized treasury bonds for the first time, instead of the traditional […]
UK Crypto Firms Face New Travel Rule Requirements from FCA
The UK’s financial regulator has imposed new rules on crypto businesses to collect and verify information on digital asset transfers as part of its anti-money laundering and counter-terrorist financing efforts. The UK’s Financial Conduct Authority (FCA) has announced that the Travel Rule, a global standard for transparency in digital asset transfers, came into force on […]
FATF Criticizes Qatar for Not Regulating Crypto Companies
The Financial Action Task Force (FATF) has slammed the Qatar Central Bank (QCB) for failing to implement its regulations prohibiting virtual asset service providers in the country. In a report published on 31 May, the global money-laundering and terrorism financing watchdog highlighted Qatar’s need to enhance its capacity to combat evolving forms of criminality, including […]
Use of Crypto in Money Laundering
Scammers and hackers in a bid to hide the proceeds of their escapades have turned to money laundering using cryptocurrencies. How crypto is being used for laundering illegal money, and the types of crimes involved are explained in this article. Cryptocurrencies are increasingly becoming the favored currency of cybercriminals, from using them to buy illegal […]
Crypto Travel Rule And How It Operates
The crypto travel rule was formulated by the Financial Action Task Force (FATF) to guide crypto companies and Virtual assets service providers (VASPs). In this article, the concept and how it operates have been discussed extensively. The Financial Action Task Force (FATF) amended its recommendations in 2019 to include virtual assets (VAs) and Virtual assets service […]