Fintech News

JULY 17, 2024

The rapid ascent of cryptocurrency has ushered in a new era of financial innovation, but it has also created novel challenges in combating financial crime. These services blend the cryptocurrencies of many users together, making it difficult to trace the origin of funds. Usage of mixers peaked in 2022, with over US$1.5

Money Laundering

BitPay

NOVEMBER 3, 2023

As cryptocurrency continues to grow as a safe and convenient method for making everyday purchases, online merchants of all sizes and types have begun offering customers the option to pay for goods or services with crypto. Starting to accept Bitcoin payments for your online business is probably much easier than you think.

Bitcoin

Payments Source

MARCH 9, 2020

The Treasury secretary’s recent Senate testimony coming down on cryptocurrencies is misguided. Regulations should require building better blockchain technology at the banks.

Money Laundering

The Paypers

APRIL 22, 2019

(The Paypers) The Financial Crimes Enforcement Network (FinCEN) has penalised a “peer-to-peer cryptocurrency exchanger” for breaking anti-money laundering (AML) rules.

Fincen

BitPay

MAY 25, 2023

A growing number of businesses have begun accepting cryptocurrency payments to meet the demands of their crypto-using customers. Fortunately, today it’s easier than ever for B2B businesses to start taking cryptocurrency in exchange for their goods and services, with no crypto knowledge required and no complicated integrations.

Cryptocurrency

CB Insights

JUNE 27, 2018

In June, the SEC’s head of corporate finance William Hinman stated that ether, the cryptocurrency associated with the Ethereum network, is not a security. Other regulatory agencies like the CFTC and FinCEN are approaching the sector in different ways. FinCEN thinks cryptoassets are money, while CFTC sees commodities.

Regulations

PYMNTS

JANUARY 11, 2021

Although blockchain technology and Bitcoin, its best-known inhabitant, have been around for 10 years, the world is just now entering a seismic transition from holding account-based assets to a system that uses token-based digital assets. For example, Bitcoin is not money.

Blockchain

Payments Source

APRIL 27, 2018

Financial institutions engaged in virtual currency markets face a number of risks — proceeding carefully is justified.

Risk

CB Insights

MAY 8, 2018

While the prices of cryptocurrencies and cryptoassets have fallen from their 2017 peaks, equity investment into blockchain startups is on pace to hit all-time highs in 2018. In still other cases, accredited investors buy tokens via cryptocurrency purchase agreements. The encrypted messaging service raised $1.7B End of story.”

Blockchain

PYMNTS

FEBRUARY 14, 2020

12) that the federal government would be rolling out new regulations regarding cryptocurrency at the Financial Crimes Enforcement Network (FCEN). interest in cryptocurrency is on the rise, as military contractors have begun to see its uses and the Federal Reserve seeing the potential in digital coins. In the U.S.,

Bitcoin

PYMNTS

DECEMBER 30, 2020

At a time when 90 percent of Americans have never owned bitcoin and nearly 70 percent say they have no plans to do so in the future, the thought of widespread adoption and usage of cryptocurrency seems to be a distant prospect for most people. Bitcoin is awesome. Ternio CEO Daniel Gouldman , however, is not one of them. “I

Fed

PYMNTS

JULY 17, 2020

Security investigators discovered cybercriminals committed alleged cryptocurrency fraud Wednesday (July 15) after hackers seized control of the Twitter accounts of political figures, executives and celebrities. Blockchain records show the scammers received more than $100,000 worth of cryptocurrency, Reuters reported.

FBI

PYMNTS

AUGUST 22, 2019

Treasury is looking at numerous cryptocurrency addresses and people associated with them as part of the Foreign Narcotics Kingpin Designation Act, also known as the Kingpin Act, Cryptovest reported on Thursday (Aug. They all have Bitcoin (BTC) addresses mentioned on the SDN list, and Guanghua Zheng additionally had a Litecoin (LTC) address.

Treasury

FICO

APRIL 19, 2021

million coins in circulation, the overall market value of Bitcoin is about $1.1 In March of this year, Citigroup said, in a 108-page report on the topic , that bitcoin “may be optimally positioned to become the preferred currency for global trade.” With an estimated 18.7 trillion—too big for banks to ignore. Sign up today!

AML

PYMNTS

FEBRUARY 1, 2021

A man has agreed to plead guilty to running an unlicensed company exchanging tens of millions of dollars in bitcoin or cash, a press release from the Department of Justice U.S. There, he purported to allow exchanges from bitcoin to cash and vice versa, charging commissions for the transactions.

Bitcoin

PYMNTS

DECEMBER 21, 2020

Justice Department raised alarms that cryptocurrencies are taking shape among national-security threats the United States faces, as rogue nations increasingly embrace crypto. Cryptocurrencies can and are being used to fund cyberattacks and evade U.S. The Financial Crimes Enforcement Network (FinCEN) has said that as of Sept.

AML

The Payments Association

MARCH 18, 2025

In response to industry feedback, the Fed is working on providing clearer guidance on permissible banking activities involving cryptocurrencies. A lack of consistent regulatory classification for cryptocurrencies continues to create uncertainty.

Federal Reserve