EU members reportedly plan for AML watchdog to oversee crypto firms by 2024
"It is key that the scope of the new EU authority explicitly includes crypto-assets," said Luis Garicano, a member of the European Parliament. The European Commission, in coordination with other authorities, reportedly plans to have its financial watchdog group potentially oversee illicit transactions at crypto firms.According to a Tuesday Bloomberg report, a group of European Union member nations led by Germany and including The Netherlands, Spain, Austria, Italy and Luxembourg plan to include crypto firms under the purview of the Anti-Money Laundering-focused group — purportedly the....
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Campaign for Accountability (CfA), a non-profit ethics watchdog organization, has written a letter to popular anti-crypto US senators Elizabeth Warren and Sherrod Brown, alerting them to possible links of Circle, the USD Coin (USDC) stablecoin issuer, to terrorist financing activities. Related Reading: Circle Reportedly Considers 2024 IPO With Support From BlackRock Circle Compromised By Integration […]
A group of EU nations have reportedly been lobbying to entrust oversight of the crypto space to a new anti-money laundering (AML) agency. Behind the move are concerns that companies dealing with digital assets can be engaged in the processing of illicit funds. Germany Leads Push to Place Crypto Firms Under EU Anti-Money Laundering Supervision Several EU member states, led by Germany, have been urging the European Union to grant a planned anti-money laundering (AML) watchdog powers to oversee businesses in the crypto sector. Quoting knowledgeable sources, Bloomberg revealed these nations....
The Superintendency of Corporations in Colombia has explained in an official note that companies in the country are legally allowed to buy cryptocurrencies, specifically bitcoin (BTC), to inject capital as long as they abide by local regulations. Colombian Watchdog: Local Firms Can Use Capital to Buy Bitcoin if Companies Demonstrate Tokens Are ‘Intangible Assets’ According to the publication, the Colombian watchdog pointed out that although crypto assets usage in the financial sectors is “still” not regulated, there are no legal prohibits to inject capital via....
South Korea aims to form a digital asset watchdog by June, according to local media sources. The committee will oversee regulation of the space until the government is able to draft basic laws on digital assets. South Korea Launch Crypto Watchdog The committee will be unveiled during the last week of June, according to a […]
U.K. watchdog, the Financial Conduct Authority (FCA), has told firms running crypto ATMs in the country that they are operating illegally and must therefore shut down their machines. Operators that fail to heed the warning will face enforcement action, the FCA said. Crypto ATM Providers Operating Illegally The U.K. financial sector watchdog, the Financial Conduct Authority (FCA), has said it asked cryptoasset service providers that operate crypto ATMs to “shut their machines down or face enforcement action.” The watchdog insisted that since none of the crypto firms that it....