News with the tag "FATF"

According to a recent report by Dawn, Pakistan is set to establish a National Crypto Council to oversee digital asset regulation in the country. This decision marks a significant policy shift as Pakistan moves toward embracing cryptocurrencies, a stance that contrasts with its previous resistance. P...

El Salvador partners with Argentina to strengthen the digital assets industry, with talks underway with over 25 nations for similar partnerships.

Dubai’s alleged crypto scams are raking in billions. Experts and US authorities have raised alarms about the increasing number of Ponzi and pyramid schemes in the UAE, often disguised as legitimate startups. Experts argue that over the last decade, Dubai has quietly become a hotbed for a type of cry...

The Travel Rule Universal Solution Technology (TRUST), backed by Coinbase, focused on developing an anti-money laundering system for crypto transactions, is launching TRUSThub to expand its reach. TRUST includes some of the largest virtual asset service providers (VASPs) including Baanx, Coinpass, F...

South Africa’s Financial Intelligence Centre has issued Directive 9, requiring digital asset platforms to collect and store identity information for cryptocurrency transactions. New Rules Force Crypto Platforms to Track User Identities A South African financial intelligence unit has issued a directi...

The Dubai Virtual Assets Regulatory Authority (VARA) has published a circular requesting that VASPs adhere to the AML requirements for the updated list of high-risk jurisdictions set by the FATF. In its communication, VARA requested that Virtual Asset Service Providers (VASPs) comply with all compul...

Russia’s financial regulator maintains that its anti-money laundering system, including strengthened virtual currency regulations, remains effective even if the country faces potential blacklisting by the Financial Action Task Force (FATF). The agency highlighted new federal laws addressing previous...

India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised India’s progress but pointed out areas needing improvement, e...

Should the Turkish government pass new amendments, all cash payments above $205 would be subject to fines of 10%.

The 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 in...