Laws Money Laundering Travel Rule 
Fintech News
JULY 17, 2024
A recent comprehensive report by Chainalysis sheds light on the intricate world of crypto-related money laundering. The Scale of Crypto Money Laundering The magnitude of crypto-related money laundering is staggering. Usage of mixers peaked in 2022, with over US$1.5 billion of value received in April alone.
PYMNTS
NOVEMBER 20, 2019
Travel Rule. Digital currency exchanges reportedly are not happy with this move, given that the guidance seems sure to lead to more expense on the part of those companies in making sure they comply with the new rules. At issue most of all is Recommendation 16 in the FAFT guidance, a so-called “travel rule.”
Neopay
NOVEMBER 27, 2023
The European Banking Authority (EBA) has launched a public consultation on new Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes. The consultation runs until 26 February 2024.
Fintech News
FEBRUARY 27, 2024
In pursuit of clearer regulatory guidelines, Anti-Money Laundering (AML) registration requirements were enforced from March 2023. Moreover, the Directorate of Enforcement in India confiscated over 1,144 crore Indian Rupees (approximately US$130 million) linked to crypto-related money laundering offences.
Neopay
MAY 7, 2024
This involves implementing more stringent oversight and reporting processes, aligning with the 2022 update to the Money Laundering Regulations (MLR). This includes references to the travel rule and updates to sections on risk assessment and fraud.
Global Fintech & Digital Assets
JANUARY 8, 2024
Under existing Hong Kong laws, stablecoin arrangements could potentially fall within the definition of a “stored value facility” (SVF) under the Payment Systems and Stored Value Facilities Ordinance (PSSVFO) and be subject to applicable licensing requirements, depending on how the stablecoin arrangements are structured.
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