News & Analysis as of

Cryptocurrency FATF AML/CFT

A&O Shearman

UAE's enhanced AML and CTF Regime: a journey from grey list to compliance

A&O Shearman on

The UAE has continued to implement significant legislative and structural reforms during 2024 in areas including financial crime compliance, whistleblowing, and virtual assets regulation. These improvements demonstrate the...more

Barnea Jaffa Lande & Co.

EU’s New Guidance: Travel Rule to Combat Money Laundering in Crypto

Barnea Jaffa Lande & Co. on

The EU is continuing to shape the regulatory landscape in the crypto market After the Markets in Crypto-Assets Regulation (MiCA) entered into force in June 2024, a significant step took place last July with the publication of...more

Walkers

Global Legal Insights Fintech 2024: Jersey chapter

Walkers on

Financial technology is already well established in Jersey, and firms are embedding technological solutions which enhance their products and services, increase efficiencies, and provide greater transparency. Originally...more

Ballard Spahr LLP

The Basel AML Index: Forfeiture, Non-Profits, Crypto, and More. A Guest Blog.

Ballard Spahr LLP on

Today we are very pleased to welcome, once again, guest blogger Dr. Kateryna Boguslavska of the Basel Institute on Governance (“Basel Institute”), who will discuss the Basel Institute’s release of the 12th annual Public...more

BakerHostetler

Firms Announce New Crypto Initiatives; Court Overturns Bitcoin ETF Rejection; FASB Updates Crypto Accounting Standard; SEC Brings...

BakerHostetler on

SWIFT Publishes Blockchain Pilot Findings; Firms Announce USDC Integrations - According to a recent press release, the Society for Worldwide Interbank Financial Telecommunication (Swift) recently published a report with...more

Cadwalader, Wickersham & Taft LLP

FATF Reports Lackluster Global Adoption of Cryptocurrency AML Requirements

The Financial Action Task Force (“FATF”), which is focused on leading global initiatives to tackle money laundering and terrorist financing, issued a report regarding the implementation of its recommended standards addressing...more

K2 Integrity

Opportunities, Risks, and Compliance in the Digital Assets Space

K2 Integrity on

On 14 September 2022, K2 Integrity hosted a webinar on considerations in the digital assets space. K2 Integrity Board Member Christopher Brummer and AML/CFT experts Mariano Federici and Alex Levitov discussed the current...more

Husch Blackwell LLP

US DOJ Responds to Biden Executive Order on Digital Assets

Husch Blackwell LLP on

On March 9, 2022, President Joseph Biden issued Executive Order 14067, which charged the Department of Justice (in consultation with the Departments of State, Treasury, and Homeland Security) to submit a report on how to...more

Skadden, Arps, Slate, Meagher & Flom LLP

FATF Updates Its Global Guidelines for the Regulation of Virtual Assets With an Eye to Emerging Technologies

On October 28, 2021, the Financial Action Task Force (FATF), the international body that sets standards for anti-money laundering and countering the financing of terrorism (AML/CFT), released updated guidance addressing the...more

ArentFox Schiff

US and International Regulators Take Aim at Stablecoin Issuers

ArentFox Schiff on

Regulatory Guidance Aims to Apply Banking Regulations to Stablecoin Issuers - On November 1, 2021, an interagency group consisting of the President’s Working Group on Financial Markets (PWG), the FDIC, and the Office of the...more

Ballard Spahr LLP

FATF Continues to Stress AML Risks From Virtual Asset Service Providers

Ballard Spahr LLP on

Fourth and Final Post in a Series on the FATF Plenary Outcomes - As we have previously blogged, the Financial Action Task Force (“FATF”) held its fourth Plenary on June 21-25, inviting delegates from around the world to...more

BCLP

Regulatory Considerations for New Iterations in the Crypto and Digital Asset Space

BCLP on

Recent news coverage has highlighted two potentially watershed moments in the FinTech revolution: the rise of Decentralized Finance (“DeFi”) that challenges both traditional FinTechs and legacy financial institutions alike,...more

Vinson & Elkins LLP

Cryptocurrency 101 – DOJ’s New Cryptocurrency Enforcement Framework Provides Guidance And Promises Of Heightened Scrutiny Of...

Vinson & Elkins LLP on

On October 8, 2020, the Attorney General’s Cyber-Digital Task Force (“the Task Force”) issued its Cryptocurrency Enforcement Framework (the “Report”), which offers background on virtual assets, enforcement milestones, and...more

Orrick - On the Chain

FinCEN Sends Message to the Virtual Currency Industry: The Travel Rule Applies to You, Too

Orrick - On the Chain on

FinCEN Director Ken Blanco addressed this year’s Consensus Blockchain Conference on May 13, 2020. In a set of prepared remarks, Blanco recognized the unprecedented challenges that the COVID-19 pandemic has created for...more

Hogan Lovells

Global Payments Newsletter, March 2020

Hogan Lovells on

Key developments of interest over the last month include: Spain: The Spanish Council of Ministers has approved a draft Bill for the Digital Transformation of the Financial System, which will create a Spanish regulatory...more

Hogan Lovells

FCA sets out approach to AML crypto supervision

Hogan Lovells on

A Director of Enforcement at the Financial Conduct Authority (FCA)  has set out some of the key challenges the regulator expects in its new role as AML/CTF (anti-money laundering/counter terrorist financing) supervisor for...more

Proskauer - Blockchain and the Law

Trump Administration Plans to Introduce New AML Requirements for Cryptocurrencies

Treasury Secretary Steven Mnuchin remarked before a hearing of the Senate Finance Committee three weeks ago that “significant new requirements at FinCEN” for cryptocurrencies would be introduced quickly, in response to...more

Perkins Coie

Blockchain Week in Review - January 2020 #2

Perkins Coie on

U.S. Developments - U.S. Regulatory Developments - Bill Addressing Tax Treatment of Crypto Transactions Introduced to the House - On January 16, 2020, Congresswoman Suzan DelBene (WA) and Congressman David Schweikert...more

Ballard Spahr LLP

What the Basel AML Index Reveals About Global Money Laundering Risks

Ballard Spahr LLP on

Established in 2003, the Basel Institute is a not-for-profit Swiss foundation dedicated to working with public and private partners around the world to prevent and combat corruption, and is an Associated Institute of the...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on the Latest Guidance From FINRA and the CFTC, and an FCA Paper...

BROKER-DEALER - Division of Trading and Markets and FINRA Staffs Issue Joint Statement on Broker-Dealer Custody of Digital Asset Securities - On July 8, in response to questions raised by market participants regarding...more

Foodman CPAs & Advisors

The Financial Action Task Force and Virtual Assets

The FATF (FATF) is an inter-governmental body with 38 members that sets standards and promotes the implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and threats...more

Perkins Coie

Blockchain Week in Review - October 2018 #3

Perkins Coie on

FATF Issues Virtual Currency Guidance - On October 19, the Financial Action Task Force (“FATF”) published the outcomes of its Plenary meeting. Included in the outcomes of the meeting were new recommendations related to the...more

Hogan Lovells

G20 looks at October deadline for cryptocurrency AML regulation standards

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What has happened? G20 member countries are looking at an October deadline for reviewing a global anti-money laundering (AML) standard on cryptocurrency....more

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