CSU : Financial Constraints to Combat Terrorism Includes Call for Bitcoin Framework
The Christian Social Union (CSU), a leading Christian democratic and conservative political party in Bavaria, Germany is due to issue a paper detailing effective ways to combat terrorism that will include financial restraints, as the party sees it. The paper will also include regulation for all virtual currencies including Bitcoin. As reported by German publication Die Welt, The paper is titled “Fighting Terrorism Effectively” and will be issued at a closed-doors CSU party meeting on Wednesday, January 6th. A major German political party in Bavaria, the Christian Social Union, will....
Related News
Nasdaq, a global provider of trading, clearing, exchange technology, listing, information and public company services, will launch a harmonized framework to provide solutions including blockchain to providers of financial infrastructures. Nasdaq will make its Nasdaq Financial Framework available to its 100-plus operator clients worldwide, which include exchanges, clearing houses, central securities depositories, alternative trading venues and interbroker dealers. Nasdaq has integrated the framework across all of its business units. The framework includes a single operational core tying....
Uganda’s Financial Intelligence Authority (FIA) says it wants the country’s Finance Ministry to help formulate a regulatory framework for crypto service providers. According to the FIA, this call for the government’s intervention has prompted by the Ugandan crypto industry’s failure to comply with an earlier plea for industry players to register. Terrorism Concerns Furthermore, in a recent report—which quotes Sydney Asubo the FIA executive director—the financial intelligence body explains why it wants the Ugandan government’s involvement in....
Financial regulations are usually a way for the government to combat money laundering and terrorism funding in their jurisdiction. Thanks to the transparent nature of blockchain technology, Know-Your-Transaction protocols will become a lot easier to implement. Anti-money laundering (AML) and countering the financing of terrorism regulations are two....
The National Bank of the Kyrgyz Republic (NBKR) revealed its new-year plans for the national crypto industry. They are about to introduce two drafts to regulate the country’s exchanges that aim to combat terrorism, money laundering, and protecting consumers. Kyrgyzstan Central Bank Set to Introduce Two Crypto Bills to Combat Terrorism Financing and Fraud According to Sputnik Kyrgyzstan, the central bank’s bills hope to add a series of anti-money laundering (AML) and combating the financing of terrorism (CFT) measures that should force local crypto exchanges to report their....
Know Your Customer (KYC) procedures play a fundamental role in the combat against money laundering and the financing of terrorism (CFT). According to a 2018 report by KPMG, banks spend close to $25 billion every year on financial crime risk management. Nonetheless, it is all for a noble cause, given the rise of financial crime […]