PYMNTS

MAY 29, 2020

Bitcoin : not worth much – except what someone else is willing to pay for it. Goldman Sachs’ withering assessment of bitcoin this week may be enough to take some wind out of the sails of those who have been looking for the marquee name in crypto to find its way into mainstream commerce. Meanwhile, money laundering represented $2.8

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PYMNTS

NOVEMBER 10, 2020

Scan the headlines over the past few weeks and cryptos, well beyond the marquee bitcoin, are making inroads into mainstream consumer and business activities. Square bought $50 million of bitcoin. PayPal is opening its network to allow consumers to shop using cryptocurrency. The mechanics and clumsiness of it all have not helped.

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Cryptocurrency Blockchain Bitcoin Online and Mobile Banking 129

PYMNTS

JUNE 9, 2019

G20 finance ministers and central bank governors have requested that the Financial Stability Board ( FSB ), as well as global standard-setting organizations, work together to monitor risks around crypto assets. The incident happened when a customer was intentionally withdrawing money and the machine started tossing out the money.

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Bitcoin ATM Risk Regulations 72

PYMNTS

OCTOBER 11, 2018

The People’s Bank of China has announced new anti-money laundering (AML) and counter-terrorism financing regulations for online financial institutions (FIs). The country’s central bank added that it would improve its own supervision process for fighting money laundering and terrorism financing.

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Central Bank AML Money Laundering Regulations 43

Payments Source

JULY 14, 2017

India is considering tracking digital currencies like bitcoin through the central bank and capital markets regulator along with intelligence agencies to monitor money laundering and terrorist financing, people with the knowledge of the matter said.

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Digital Currency Money Laundering Crime Central Bank 60

PYMNTS

DECEMBER 26, 2019

The Bank of Russia has been testing stablecoins that are attached to real assets, according to reports. The head of the bank, which is Russia’s central bank, said just because they’re testing the coins doesn’t mean they will eventually turn into a money substitute. “We Meanwhile, on Jan.

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Central Bank Stablecoins Rules Bitcoin 52

PYMNTS

MAY 6, 2020

Irish bitcoin ATM operator Boinnex found itself facing roadblocks from Allied Irish Banks (AIB), which shut down its account and said it didn’t want to deal with an unregulated form like cryptocurrency, according to CoinDesk. Cryptocurrency still isn’t recognized by the Central Bank of Ireland as a legitimate form of payment.

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Bitcoin Cryptocurrency AML Money Laundering 70

PYMNTS

JULY 16, 2019

In a press conference on Monday (July 15), Mnuchin warned that Libra “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.”. Monetary policy is properly the province of central banks.”. They have a lot of work to do,” he said, according to CNBC.

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Treasury Security Money Laundering Cryptocurrency 75

PYMNTS

JANUARY 26, 2021

Diokno, Philippines’ Central Bank (BSP) governor in the release. The guidelines expand to include virtual asset transfers and exchanges, as well as virtual asset storage and management in BSP’s licensing requirements and regulations, including its anti-money laundering (AML) and countering the financing of terrorism rules.

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Wire Transfer Blockchain Wire Wires 97

PYMNTS

SEPTEMBER 4, 2019

Cryptocurrency firms doing business in the Netherlands will soon be required to register with Dutch Central Bank , according to CoinDesk. The move comes as the European Union has passed tougher anti-money laundering (AML) laws. 10, 2020.

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Central Bank Blockchain Money Laundering Bitcoin 49

PYMNTS

JUNE 5, 2017

Russia is getting more into digital currency with the central bank in the country launching tests of several digital currency schemes. According to a report in Reuters, the idea is to figure out which one would be the best for Russia, Olga Skorobogatova, the deputy chairwoman of the central bank, told TASS news agency late last week.

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PYMNTS

DECEMBER 4, 2019

But not bitcoin. But not bitcoin. The price of bitcoin, that marquee name in cryptocurrencies, has plummeted in the last several weeks, down roughly 20 percent at this writing to a recent $7,400, where the price had been more than $9,400 a month ago. The impact will disproportionately be borne by those who trade in bitcoin.

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PYMNTS

JUNE 29, 2020

A decision on its coins, seen as a competitor of Bitcoin, is expected this year. In January, the United Kingdom’s Financial Conduct Authority (FCA), the country’s banking regulator, took the reins to oversee cryptocurrency, anti-money laundering and counter terrorist financing activities.

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Stablecoins Cryptocurrency Central Bank Money Laundering 88

PYMNTS

MAY 12, 2020

Bitcoin has long been the marquee name — shorthand, if you will — for the cryptocurrency space. And in recent months, the ride has been wild for bitcoin pricing amid the pandemic. On the other hand, bitcoin is also well off of its all-time highs of just under $20,000. bitcoin exchange.). based crypto exchanges.

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Bitcoin FBI Cryptocurrency Scams 60

PYMNTS

FEBRUARY 28, 2018

Taiwan’s central bank is looking into implementing blockchain technology in order to improve its operations. That same month, then-Governor of Taiwan’s Central Bank, Perng Fai-nan, said bitcoin should be added to the notification system in the country in order to prevent money laundering.

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PYMNTS

DECEMBER 24, 2020

Here are some of cryptos’ key developments for 2020: Bitcoin Goes Higher And Higher. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. And one of the most notable events of 2020 was the big appreciation in bitcoin’s price, tied as it is (and was) to optimism about cryptos’ future.

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Federal Reserve Bitcoin Cryptocurrency Office of the Comptroller of the Currency 103

PYMNTS

OCTOBER 14, 2020

As much as Bitcoin and other cryptocurrencies have attracted scrutiny from the Department of Justice and still lack mainstream acceptance, Voyager’s portfolio of so-called “stablecoins” (which are linked to an underlying currency such as the U.S.

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Treasury Cryptocurrency Stablecoins Fincen 129

PYMNTS

JANUARY 11, 2017

Bitcoin’s value dropped farther today (Jan. It turns out bitcoin investors were right to be suspicious last week. Current regulations limit foreign exchange to $50,000 each year, but some believe that people are using bitcoin and other digital currencies to circumvent this maximum.

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Bitcoin Digital Currency Central Bank Money Laundering 40

PYMNTS

NOVEMBER 12, 2019

12) that central banks have no reason to issue digital currency. Digital currencies hit the world stage in 2017 when bitcoin skyrocketed to nearly $20,000 from $600-$800. Investors are lured by bitcoin’s blockchain technology and its decentralized system. Former U.S. I am looking at the next five years after that.

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Digital Currency Central Bank Fed Federal Reserve 40

PYMNTS

OCTOBER 14, 2016

Milan, Italy was the host of a formal bitcoin conference to address scaling and a protest conference that addressed, well, everything that the formal conference didn’t. Scaling of bitcoin is a thorny issue and one that caused some dissension at the Scaling Bitcoin conference that took place on October 8 and 9.

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Bitcoin Blocks Central Bank Digital Currency 77

PYMNTS

MARCH 19, 2018

Mastercard ’s Co-President of Asia-Pacific Ari Sarker said the payment company would happily look into facilitating the use of digital currencies that are issued by central banks around the world. Mastercard is one of several credit card companies that have made it tougher for customers to use their payment cards to purchase bitcoin.

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PYMNTS

JANUARY 17, 2017

Bitcoin has far more traders these days — particularly in China — than it has true believers. It’s the golden age to be in the bitcoin market, because it’s imperfect,” said Zhou Shuoji , a former IBM technology consultant whose firm, Fintech Blockchain Group, runs a bitcoin hedge fund and venture capital fund.

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PYMNTS

NOVEMBER 12, 2018

In an effort to protect its residents from crypto scams, the Central Bank of the Bahamas (CBOB) has released a regulatory framework before it integrates cryptocurrency-based assets into its services. Over the past two years, exit scammers have stolen more than $100 million worth of cryptocurrency.

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Scams Money Laundering Digital Currency Cryptocurrency 71

PYMNTS

JUNE 10, 2020

Maxwell Opoku-Afari, the bank’s first deputy governor, reportedly said during a digital workshop that the bank remains steadfast in facilitating innovation and piloting ideas like a central bank cryptocurrency. A unit in the central bank’s banking department supervised the area prior to 2016.

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PYMNTS

JULY 29, 2016

T he European Commission would like to create a central database of digital currency users to prevent terrorist financing and money laundering – for the obvious reasons. Is The Bank of Japan Helping Bitcoin ? But Europe might like to make it less so. Scotland Considering Cryptocurrency and Independence … Again.

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Database Bitcoin Money Laundering Cryptocurrency 45

PYMNTS

JUNE 20, 2019

The Wall Street Journal is reporting that the Federal Reserve and the Senate Banking Committee will both closely scrutinize the implementation of Libra. On Wednesday (June 20), Fed chairman Jerome Powell said that the country’s central bank has “significant input into the payments system,” which is the eCommerce system that Libra will affect.

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Regulations Money Laundering Federal Reserve Digital Currency 67

PYMNTS

JANUARY 20, 2017

However, recently the People’s Bank of China pointed to irregularities in the operations of bitcoin exchanges BTCC, Huobi and OKCoin as the cause of the recent rollercoaster ride in bitcoin’s price, said Reuters. The developments are still ongoing, so PYMNTS’ Bitcoin Tracker will keep watch for new details in the coming weeks.

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Bitcoin IRS Digital Currency Central Bank 41

PYMNTS

MAY 12, 2017

Bitcoin’s growing just about as fast as we can write about it — as are a number of other cryptocurrencies, for that matter. It only took just over one day for the bitcoin price to break the record it set earlier this week. On Thursday (May 11) of this week, bitcoin saw values break above $1,800 for the first time in history.

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Bitcoin Caps Digital Currency Money Laundering 45

PYMNTS

JULY 7, 2020

Regulators are taking in an interest in stablecoins, with the Financial Action Task Force (FATF) noting in a report the digital currencies need to adhere to norms to offer protection from the terrorism financing and money laundering, Bloomberg reported.

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Debit Card Stablecoins Regulations Blockchain 65

PYMNTS

JUNE 30, 2020

On another note, the central bank of Zimbabwe has reportedly stopped all transactions by “mobile money agents” and restricted payment sizes via other firms, Coindesk reported. The move comes as the institutions aims to defend against efforts to avoid hyperinflation in the nation.

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Authorization Digital Currency Central Bank Bitcoin 80

PYMNTS

DECEMBER 6, 2016

Back in January, Reuters reported the European Union plans to spend its resources monitoring digital currencies, like bitcoin, instead of formally regulating them. There’s plenty of virtual currencies in the world (600, according to Reuters’ count in January), and bitcoin accounts for roughly 90 percent of the $7 billion market.

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Money Laundering Bitcoin Regulations Digital Currency 61

PYMNTS

NOVEMBER 2, 2020

31, focuses on anti-money laundering (AML) practices and countering financing terrorism (CFT). The Cayman Islands’ Ministry of Financial Services introduced the nation’s regulatory framework for virtual asset service providers (VASPs) on Saturday (Oct. 31), according to a press release.

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CBDC Distributed Ledger Technology (DLT) Visa AML 64

PYMNTS

JANUARY 13, 2017

Bitcoin’s volatile tendencies were on full display this past week. After flirting with record highs just over one week ago, bitcoin fell to its lowest level in over a month, $746.79, on Thursday (Jan. Needless to say, if Chinese regulators even look at bitcoin the wrong way, investors around the world fear the worst.

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Bitcoin Digital Currency Legal Central Bank 41

PYMNTS

FEBRUARY 25, 2020

Blockchain circles have been enamored with central bank digital currencies (CBDCs), but the feeling doesn’t seem to be mutual as banks aren’t as interested in that form. Some representatives from the world’s central banks discussed the matter last week in Kyiv, Ukraine, at a conference arranged by the National Bank of Ukraine.

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Rules CBDC Money Laundering Digital Currency 52

PYMNTS

AUGUST 28, 2017

Bitcoin Scrutiny Down Under . Australia is gearing up to boost anti-money laundering efforts and wants to regulate cryptocurrencies, including bitcoin. The move comes in the wake of news of alleged financial misdoings at Commonwealth Bank of Australia (CBA). Data Protection in the U.K.,

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Cybersecurity Money Laundering Digital Currency Online and Mobile Banking 57

PYMNTS

JULY 9, 2019

The central bank of India and the government have both practically outlawed cryptocurrencies by disallowing banks to use them. The Reserve Bank of India has restricted use, and the government is in the process of writing a law that has strict penalties on usage. . The issue is about to come up for a hearing on July 23. .

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Cryptocurrency Laws Central Bank Money Laundering 54

PYMNTS

APRIL 14, 2019

This is forcing central banks, regulators and financial institutions to recognize a growing knowledge gap between the legislators, policymakers, economists and the technology. This project begins to bridge that gap and form a strong knowledge base of the technology among IMF and World Bank staff,” said a statement from the IMF.

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