Germany Warns of Privacy Token Usage in Money Laundering and Terrorism
The German Federal Ministry of Finance has expressed concerns about rising use of privacy tokens due to their association with criminal activities and difficulties in tracking them.
UK Crypto Exchanges Pose Low Money Laundering Risk, Says Global Watchdog
Cryptocurrency exchanges in the U.K. present a “low risk” for money laundering and terrorist financing activities, according to a report published last week by the Financial Action Task Force (FATF), a global anti-money laundering policymaker.
US Treasury Official Calls on Crypto Industry Players to Combat Illicit Use of Crypto
The U.S. Department of the Treasury Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker urged crypto industry players and regulators to prevent the illicit use of cryptocurrencies in a speech Dec. 3.
Hong Kong Gov’t Report Says Bitcoin Poses ‘Medium-Low’ Risk In Financial Crime
The Hong Kong Financial Services and Treasury (FSTB) released a report yesterday, April 30, on the status of money laundering (ML) and terrorism financing (TF). The report concluded that virtual currencies (VC), like Bitcoin (BTC), are not particularly involved in either type of financial crime.
Iran Central Bank Bans Domestic Banks from Cryptocurrency Dealings
Citing money laundering concerns, the Central Bank of Iran (CBI) has banned the country’s banks from offering services to crypto firms or dealing in cryptocurrencies.
US Treasury Official Calls for Global Crypto Regulation
The undersecretary of the U.S. Treasury's Office of Terrorism and Financial Intelligence called on the international community for stronger cryptocurrency regulations to help protect the financial system and national security in a speech yesterday.