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Navigating legal uncertainty: How the Digital Assets Bill could impact PSPs

The Payments Association

Under the Bill, PSPs will be required to review their obligations under this evolving legal framework to confirm their ability to deliver on redemption guarantees. This could lead to disputes over ownership, custody, and liability in cases where the legal framework is yet to be fully tested.

Legal 88
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Understanding Crypto Money Laundering, and How to Get a Handle on It

Fintech News

This decrease suggests that the anti-money laundering (AML) programmes of centralised exchanges are becoming more effective at detecting and mitigating laundering activity. Singapore’s Payment Services Act (PSA) brings crypto businesses under regulatory oversight, imposing strict AML/CFT requirements.

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Age Verification in Latin America 

Segpay

This blog explores child protection laws across key Latin American countries, highlighting their different approaches and the evolving regulatory frameworks. The Brazilian Child and Adolescent Statute (ECA) provides a broad legal framework to protect minors. Ondato Type : KYC/AML and identity verification.

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European Central Bank To Launch Network Of Watchdogs To Fight Money Laundering

PYMNTS

The AML Office will set up and chair ‘an AML Network’ among Joint Supervisory Teams in charge of the banks whose business model leads to a high level of money laundering risks,” Nouy told European Union parliamentarians, reported Reuters.

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EBA calls for strengthening the connection between the EU legal frameworks on AML/CFT, DGSD

The Paypers

The European Banking Authority (EBA) has published an Opinion on how to strengthen the connection between the EU legal frameworks on anti-money laundering and terrorist financing, and deposit protection.

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Bybit Lands in Argentina With VASP and Card Operator Approval

The Fintech Times

In April 2024, the country reviewed the legal framework for virtual assets declaring that providers must register and comply with the duty to report to authorities. This reflects the growing acceptance of digital assets within the country’s legal framework.

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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

This legislation represents a significant shift in corporate accountability, aiming to strengthen the UKs legal framework against financial crime. The FCAs financial crime guide outlines expectations for firms regarding anti-money laundering (AML) and fraud prevention.

Crime 88