New White House standards strategy could have implications for crypto industry KYC
The Biden administration has released a strategy document focusing on setting standards for “critical and emerging” technologies such as blockchain and digital ID.
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Innovate some compliance mechanisms, US Treasury official tells DeFi community
Assistant Treasury Secretary Elizabeth Rosenberg said the Treasury was enhancing its regulatory regime and DeFi should program in some compliance.
Ethereum researcher says staking reveals IP address sparking privacy concerns
A researcher at the Ethereum Foundation said he had “internally” discovered that staking Ether reveals a user's IP address information.
India subjects crypto transactions to anti-money laundering law
The operators face an obligation to store the transactions’ data for ten years and pass it to regulators on demand.
Coinbase CEO hints its new layer-2 network could include AML measures
Brian Armstrong said centralized firms have a responsibility to monitor transactions and carry out Anti-Money Laundering checks.
FATF agrees on roadmap for implementation of crypto standards
Part of the FATF's ‘Travel Rule’ includes recommendations that financial institutions obtain information on the originators and beneficiaries of certain crypto transactions.
South Korea to deploy cryptocurrency tracking system in 2023
The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance.
BMW Partners With Coinweb to Develop Blockchain-Based Vehicle Financing Automation and Loyalty Program in Thailand
BMW, the luxury car manufacturer, has partnered with Coinweb, a decentralized blockchain layer 2-based company, to introduce blockchain-based tools to its operations. The company will develop blockchain-based automation for vehicle…
Sens. Warren and Marshall introduce new money-laundering legislation for crypto
The senators have created a harsh, sweeping bill to clean up crypto’s AML/KYC act that will benefit from further discussion in the next Congress.
US DOJ split over charging Binance in the 2018 AML investigation: Report
Binance has faced compliance warnings from many countries over the past couple of years, but it managed to overcome those shortcomings in most nations barring the U.S.