European watchdog lists crypto next to lawyers, accountants as an AML threat
The annual supervision report from MONEYVAL concluded that 18 of the 22 jurisdictions have an insufficient level of compliance with AML standards. Europe’s Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) watchdog, MONEYVAL, has listed monitoring the crypto sector along with “gatekeeper” professionals, such as lawyers and accountants, as priorities in European nations' push to combat money laundering.In a media release based on the findings of its annual report, MONEYVAL called upon European jurisdictions to assess compliance with international standards and....
Related News
MONEYVAL, Europe’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) watchdog, has prioritized monitoring the crypto industry, as well as “gatekeeper” professionals like attorneys and accountants, in European countries’ efforts to prevent money laundering. Watchdog Says Europe Need Better AML Laws MONEYVAL called on European countries to review conformity with international standards and develop tighter regulatory measures […]
The Digital Currency Council (DCC) was newly officially launched. The press release described DCC as 'a new professional association created to foster best-in-class practices for lawyers, accountants, and financial professionals in the digital currency economy through training, certification, and ongoing support.' CCN had a talk with David Berger, the man who came with the idea behind DCC. Hello, Mr. Berger. Just to make sure our readers are up to speed, can you briefly explain again what DCC is? Yes, definitely. The DCC is a professional association for lawyers, accountants, and financial....
The European Parliament has appointed a regulator for Bitcoin and cryptocurrency. In the end, these efforts will be futile, as the decentralized nature of the Bitcoin protocol is resistant to external influence. EU Parliament Seeks a Crypto Watchdog. The European Parliament and ECB are not on the same page regarding Bitcoin. A few weeks ago, there was a....
A new essay from the CEO of the International Federation of Accountants, an organization that boasts more than 2.5 million accountants and 179 member-organizations among its ranks, suggests that there is a growing belief in the industry that bitcoin technology could revolutionize fiscal and corporate governance. The article, penned by IFAC CEO Fayez Choudhury, posits that bitcoin presents both opportunities and challenges for accountants, and argues that accountants are uniquely placed to help determine the role that bitcoin will play in global finance. Choudhury suggests that bitcoin....
Blockchain could change the way accountants generate revenue, according to a report published yesterday by the Association of Chartered Certified Accountants (ACCA). The group, which boasts more than 180,000 members worldwide, said in its report that the kinds of services accountants provide may evolve depending on how the technology is adopted. These changes, the report's authors note, may impact the income of accountants as well. While the report notes that "it will take time" to see how distributed ledger adoption affects revenues for accountants, it does caution that....