FCA Defends Crypto Stance to Combat Illicit Activities
Citing the need to safeguard financial integrity, the UK FCA justifies its strict registration requirements for crypto firms. The U.K. Financial Conduct Authority addresses worries that these strict regulations may stifle innovation in the sector by restating its dedication to a stringent registration procedure for cryptocurrency enterprises. The FCA’s head of payments and digital assets, […]
Report Shows Scammers Use Tether (USDT) For Illegal Activities
A recent UN Office on Drugs and Crime report indicates that Tether, a significant player in the cryptocurrency industry, is becoming the tool of choice for money launderers and fraudsters in Southeast Asia. The UN’s Office on Drugs and Crime has issued a report that emphasizes the concerning increase in fraudulent activities, with a specific […]
EU to set up a new unit that will fight illegal activities involving crypto
Since cryptocurrencies have the potential to be used in illegal financial transactions, The European Union (EU) is planning to establish a new agency to combat these crimes. According to a recent Reuters article, the European Union is considering establishing a new body to set new monetary transparency standards, combat money laundering, and possibly block terrorist […]