Financial watchdog FATF reduces Russia’s rating over digital asset control deficiencies
The Financial Action Task Force (FATF) has recently adjusted Russia’s compliance rating to “partially compliant” in terms of its ability to monitor and combat suspicious transactions involving virtual assets. Reason for Russia’s downgrade Reports from RBC indicate that this downgrade is primarily due to shortcomings in Russia’s 2020 “On Digital Financial Assets” legislation. The law […]
Dubai’s virtual asset regulatory authority appoints new CEO as it commences fining spree
Dubai’s Virtual Assets Regulatory Authority (VARA) in a press release has announced that Mathew White will be the new CEO of VARA as the authority moves towards the next phase of ramping up to full scale market operations. This comes as VARA gears up towards fining a dozen crypto firms. As per the press release, […]
How the FATF’s Crypto Travel Rule Helps Protect the Integrity of the Industry
Cryptocurrency, a digital currency, has been popular over the past decade. This innovative technology, often associated with blockchain, has disrupted traditional financial systems and gained widespread attention. However, with its rapid growth and increasing adoption, the need for regulations in the cryptocurrency space has become evident. Cryptocurrency has emerged as a groundbreaking financial instrument, allowing […]
Qatar criticized for inaction against crypto firms
Qatar, the wealthy Middle Eastern nation known for its towering skyscrapers and burgeoning economy, has recently drawn significant attention for its involvement in the global cryptocurrency arena. However, this focus has not been entirely positive. Criticism is rising against Qatar for its perceived inadequacies in addressing money laundering and terrorist financing issues linked to cryptocurrency […]
Canada FATF compliance is coming hard
Canada FATF compliance is the next big thing that is about to stir the cryptocurrency sphere in the country. Financial Action Task Force (FATF) is going hard on cryptocurrency, digital currencies, and even big technology companies to ensure all anti-money laundering (AML) measures. Per the latest official circulars, Canada’s watchdog for financial crimes is getting […]