News & Analysis as of September 20, 2024

Virtual Currency › Member State

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

New EU and UK Anti-Money Laundering Rules: The Fifth AML Directive Extends to Cryptocurrencies

Orrick - Finance 20/20 on 9/18/2018

The Fifth Anti-Money Laundering Directive (MLD5) entered into force in July 2018. MLD5 updates the legal framework under the Fourth Anti-Money Laundering Directive (MLD4) and must be implemented by the EU member states by...more

New EU and UK Anti-Money Laundering Rules: The Fifth AML Directive Extends to Cryptocurrencies

Orrick, Herrington & Sutcliffe LLP on 9/17/2018

International AML Enforcement in 2017 Expected to Target Consumer-Due-Diligence Programs, Gaming Entities, Prepaid Cards, Digital...

K&L Gates LLP on 11/30/2016

Over the past two years, financial regulatory bodies in the United States and Europe have increasingly emphasized consumer due diligence (“CDD”) by financial institutions as a means to combat money laundering and terrorist...more

Blog: 5th Anti-money Laundering Directive: 2nd Presidency Compromise Text published

Cooley LLP on 11/16/2016

The Council of the European Union has published the 2nd Presidency Compromise Text version of the 5th Anti-money Laundering Directive. The text has been marked up to show how the 1st Compromise Text has been change to create...more

Your daily dose of financial news - The Brief – 7.26.16

Robins Kaplan LLP on 7/26/2016

Private equity bigwig Lynn Tilton has reportedly hired appellate superstar Paul Clement (after Gibson Dunn got the boot) to represent her in her “bid to revive her challenge to the [SEC’s] in-house court at the Second...more

Your daily dose of financial news - The Brief – 7.20.16

Robins Kaplan LLP on 7/20/2016

We’ve heard about VW’s $15 billion settlement to resolve US claims by owners and regulators, but a spate of recent state AG-led actions shows that the fallout from the emissions cheating scandal is far from over. NY, MA, and...more

EU Proposal to Address Virtual Currency Exchanges & Wallet Providers in Anti-Money Laundering Laws

Goodwin on 7/18/2016

The European Commission recently published a proposal to amend the Fourth Anti-Money Laundering Directive, the legislation that specifies the anti-money laundering, or AML, and counter terrorist financing rules for EU Member...more

Blog: European Commission brings virtual currency exchanges & wallet providers within the scope of the 4th Anti-money Laundering...

Cooley LLP on 7/6/2016

The European Commission has published a proposal for a directive that will amend the 4th Anti-money Laundering Directive (4AMLD). If the directive is made and brought into force, the EU Member States will be obliged to...more

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Virtual Currency › Member State

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