Regulation

The director of the Financial Crimes Enforcement Network (FinCEN) says the cryptocurrency industry has begun to fall in line with the agency’s regulations on money transmission services. In a speech delivered at the American Bankers Association/American Bar Association Financial Crimes Enforcement Conference on Dec. 10, Kenneth A. Blanco claimed that FinCEN’s May 2019 guidance was
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Earlier this week, decentralized cryptocurrency exchange CryptoBridge abruptly announced that it was shutting shop, leaving just two weeks for its customers to retrieve their funds. Around the same time, the Waves DEX also shut down to resume operations as a hybrid exchange. While Waves ostensibly decided to “merge all the infrastructure teams” together and focus
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By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. In the “Imagine 2030” report, Deutsche Bank strategist Jim Reid raised awareness of the challenges the existing fiat system has encountered in recent years, specifically with the emergence of cryptocurrencies. Reid stipulated that
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In January 2020, the regulatory landscape for crypto businesses will completely change in the European Union in comparison with the last decade — and these changes will touch all those who store clients’ crypto funds or provide fiat-to-crypto exchange services, at minimum. Not long ago, the Anti-Money Laundering regulations were extended to cover cryptocurrency custodian
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Blockchain researchers at online brokerage eToro have argued that Facebook should look to support third-party stablecoins, not Libra. According to a Nov. 28 report from Finextra, eToro’s blockchain research unit eToroX Labs believes that while Facebook’s crypto project offers a “trailblazing opportunity” to disrupt financial services worldwide, the social media giant needs to change its
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A Ukrainian government official said that United States cryptocurrency exchange Bittrex sought to collaborate with the Ukrainian government on developing the country’s cryptocurrency industry. In a Nov. 20 interview with domestic blockchain media outlet ForkLog,. Deputy Minister of Digital Transformation Alexander Bornyakov claimed that Bittrex contacted the Ukrainian government to this end. Referring to Ukraine’s
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Cryptocurrency exchange BitBay will delist privacy-centric cryptocurrency Monero (XMR) due to money laundering concerns. The exchange announced the decision on Nov. 25, noting that the delisting will take place on Feb. 19, 2020. The exchange explained its decision “Monero (XMR) can selectively utilize anonymity features among projects. This feature of XMR is a subject to
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Grayscale’s Michael Sonnenshein contends that the asset manager’s recent Form 10 filing with American regulators would be “a milestone” for the crypto industry if it’s approved. Sonnenshein — managing director at the world’s largest digital asset manager, Grayscale Investments — made his remarks during an interview with CNBC on Nov. 20. Hedge funds after digital
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Chinese authorities have reportedly raided and shut down the Shanghai offices of leading cryptocurrency exchange Binance.  Citing unnamed local sources, The Block says that local police have shut down Binance’s offices after raiding the premises. Between 50–100 of the exchange’s employees reportedly worked out of the Shanghai location. Binance has not responded to Cointelegraph’s requests
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The Chinese technology capital of Shenzhen issued a warning against illegal activities concerning cryptocurrencies. Local finance news outlet Eastmoney reported on Nov. 21 also that Shenzhen’s Leading Group for Remediation of Internet Finance Risks will investigate and collect evidence on illegal activities involving cryptocurrencies The crypto ban improved safety, says official body The Leading Group
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