EU’s EBA Sets Comprehensive AML Guidelines For Crypto Assets
The objective of the EBA’s exhaustive AML guidelines for crypto assets is to standardize the fight against financial crimes in crypto. Crypto-asset service providers (CASPs) have been added to the anti-money laundering (AML) and counter-terrorist financing (CTF) regulations of the European Banking Authority (EBA). This decision is an essential milestone in the European Union’s endeavor […]
South Korea to Introduce Regulations for Virtual Assets Distribution
The implementation of comprehensive regulations for virtual assets by the FSS of South Korea reshapes the crypto landscape. The forthcoming publication of exhaustive guidelines by the Financial Supervisory Service (FSS) will profoundly impact the trajectory of cryptocurrency regulation in South Korea. This will be an instrumental moment in the oversight of virtual assets. The primary […]
Italy to Prioritize AI Regulation During G7 Presidency
Before June’s first leaders’ summit, Prime Minister Giorgia Meloni intends to convene a special G7 session devoted to artificial intelligence. Italy, one of the initial European nations to formally prohibit OpenAI’s ChatGPT, a widely used chatbot, will make artificial intelligence (AI) a central theme during its January-December Group of Seven (G7) presidency. Prime Minister Giorgia […]
NYDFS Introduces Stricter Crypto Listing Rules
The objective of the NYDFS’s stricter listing and delisting regulations for cryptocurrencies is to increase investor protection in the space. The New York State Department of Financial Services (NYDFS) has issued stringent listing and delisting regulations for virtual currencies. The NYDFS clarified in a new industry letter published on November 15 that they are implementing […]
Swan to Block Accounts of Customers Using Crypto-Mixing Services
Swan, a Bitcoin service platform, notified its users that compliance with FinCEN regulation would compel the termination of accounts utilizing crypto-mixing services. In a letter to customers, the policy was elucidated, with the implication that the modifications were necessitated by a proposed rule by the Financial Crimes Enforcement Network (FinCEN), which imposes additional obligations on […]