FATF

Virtual Asset Legal Framework: Merging Traditional Finance Risk Management with Technological Innovation

Retrieved on: 
목요일, 6월 13, 2024
Tether, KYC, Fraud, Ministry, Party Central, VASP, Police, VBA, Communication, ICP, State bank, People's Court, Investment, FATF, Regulatory technology, Knowledge, Doctrine, Financial Action Task Force, KYT, OKX, AML, Conference, KYB, Cryptocurrency

Currently, the lack of a cohesive legal framework results in VA-VASP regulations being scattered across 19 different legal documents, leading to significant unregulated activities such as crowdfunding fraud and unauthorized promotion of virtual asset services.

Key Points: 
  • Currently, the lack of a cohesive legal framework results in VA-VASP regulations being scattered across 19 different legal documents, leading to significant unregulated activities such as crowdfunding fraud and unauthorized promotion of virtual asset services.
  • Mr. Phan Duc Trung, Standing Vice Chairman of the Vietnam Blockchain Association, underscored the necessity of integrating traditional finance risk management practices with technological innovation to develop the VA-VASP legal framework.
  • He stressed the importance of applying fundamental compliance principles from traditional finance, such as KYC (Know Your Customer), KYB (Know Your Business), KYI (Know Your Intermediary), and KYT (Know Your Transaction) to virtual asset management.
  • This press release summarizes the key discussions and outcomes of the 5th VA-VASP Legal Framework Conference, emphasizing the urgency and importance of developing a robust legal framework to regulate virtual assets in Vietnam.

XREX Singapore Receives MAS Major Payment Institution Licence

Retrieved on: 
월요일, 5월 13, 2024
Partnership, Money, Financial Action Task Force, USD, Luigi, USDC, Digital, MPI, USDT, SGD, Singapore dollar, Hand, FATF, MAS, Cryptocurrency

SINGAPORE, May 12, 2024 /PRNewswire/ -- XREX Singapore , a blockchain-enabled financial institution specialising in cross-border payments in emerging markets, announced today that it has obtained the Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS), the nation's central bank and financial regulator.

Key Points: 
  • SINGAPORE, May 12, 2024 /PRNewswire/ -- XREX Singapore , a blockchain-enabled financial institution specialising in cross-border payments in emerging markets, announced today that it has obtained the Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS), the nation's central bank and financial regulator.
  • With this licence in hand, XREX Singapore will endeavour to bring blockchain-enabled digital payment currencies to ubiquity."
  • XREX Singapore's licence encompasses a total of six payment services, namely:
    ii) Domestic money transfer service;
    iii) Cross-border money transfer service;
    vi) Digital payment token service.
  • With XREX Singapore as the group's Asia Pacific headquarters, XREX looks forward to expanding its partnership with major banks, credit card institutions, and payment institutions to build next-generation financial systems that integrate traditional and blockchain finance," said XREX Co-founder and Group Chief Revenue Officer Winston Hsiao.

XREX Singapore Receives MAS Major Payment Institution Licence

Retrieved on: 
월요일, 5월 13, 2024
Partnership, Money, Financial Action Task Force, USD, Luigi, USDC, Digital, MPI, USDT, SGD, Singapore dollar, Hand, FATF, MAS, Cryptocurrency

SINGAPORE, May 13, 2024 /PRNewswire/ -- XREX Singapore , a blockchain-enabled financial institution specialising in cross-border payments in emerging markets, announced today that it has obtained the Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS), the nation's central bank and financial regulator.

Key Points: 
  • SINGAPORE, May 13, 2024 /PRNewswire/ -- XREX Singapore , a blockchain-enabled financial institution specialising in cross-border payments in emerging markets, announced today that it has obtained the Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS), the nation's central bank and financial regulator.
  • With this licence in hand, XREX Singapore will endeavour to bring blockchain-enabled digital payment currencies to ubiquity."
  • XREX Singapore's licence encompasses a total of six payment services, namely:
    ii) Domestic money transfer service;
    iii) Cross-border money transfer service;
    vi) Digital payment token service.
  • With XREX Singapore as the group's Asia Pacific headquarters, XREX looks forward to expanding its partnership with major banks, credit card institutions, and payment institutions to build next-generation financial systems that integrate traditional and blockchain finance," said XREX Co-founder and Group Chief Revenue Officer Winston Hsiao.

ACAMS Assembly APAC to Highlight the Evolution of Anti-Financial Crime Measures in the Asia-Pacific Region

Retrieved on: 
수요일, 4월 17, 2024
Assembly, AFC, Treasury, Financial Action Task Force, ACAMS, AML, FATF, Enforcement, Travel, Cryptocurrency

The Assembly APAC 2024 will offer attendees expert guidance and practical insights, addressing how the region’s AFC professionals can prepare for the latest regulations and meet compliance expectations.

Key Points: 
  • The Assembly APAC 2024 will offer attendees expert guidance and practical insights, addressing how the region’s AFC professionals can prepare for the latest regulations and meet compliance expectations.
  • The Assembly APAC 2024 will feature a session wherein regulators will share their views on current developments in the region.
  • "The Assembly APAC will offer invaluable insights essential for compliance professionals grappling with growing regulatory requirements and emerging illicit-finance threats that continue to reshape how AFC compliance is conducted," said ACAMS CEO, Neil Sternthal.
  • For more information on The Assembly APAC 2024, including access to the agenda and registration portal, please visit: https://www.acams.org/en/events/the-assembly/the-assembly-apac .

ACAMS Assembly APAC to Highlight the Evolution of Anti-Financial Crime Measures in the Asia-Pacific Region

Retrieved on: 
수요일, 4월 17, 2024
Assembly, AFC, Treasury, Financial Action Task Force, ACAMS, AML, FATF, Enforcement, Travel, Cryptocurrency

The Assembly APAC 2024 will offer attendees expert guidance and practical insights, addressing how the region’s AFC professionals can prepare for the latest regulations and meet compliance expectations.

Key Points: 
  • The Assembly APAC 2024 will offer attendees expert guidance and practical insights, addressing how the region’s AFC professionals can prepare for the latest regulations and meet compliance expectations.
  • The Assembly APAC 2024 will feature a session wherein regulators will share their views on current developments in the region.
  • "The Assembly APAC will offer invaluable insights essential for compliance professionals grappling with growing regulatory requirements and emerging illicit-finance threats that continue to reshape how AFC compliance is conducted," said ACAMS CEO, Neil Sternthal.
  • For more information on The Assembly APAC 2024, including access to the agenda and registration portal, please visit https://www.acams.org/en/events/the-assembly/the-assembly-apac .

Toobit Integrates with CODE Travel Rule Solution, Strengthening Compliance and Security

Retrieved on: 
금요일, 4월 5, 2024
Partnership, Financial Action Task Force, FATF, CODE, Environment, AML, Safety, Cryptocurrency

The integration with the CODE Travel Rule solution is a testament to Toobit's dedication to compliance, safety, and the provision of technology-based solutions that not only meet but exceed the international standards for anti-money laundering (AML) compliance.

Key Points: 
  • The integration with the CODE Travel Rule solution is a testament to Toobit's dedication to compliance, safety, and the provision of technology-based solutions that not only meet but exceed the international standards for anti-money laundering (AML) compliance.
  • The Financial Action Task Force's Travel Rule is a critical regulatory standard aimed at curbing money laundering and terrorist financing.
  • By partnering with CODE, a Travel Rule solution embraced by major exchanges, Toobit demonstrates its commitment to the highest levels of compliance and security.
  • The cryptocurrency community warmly welcomes Toobit's integration into the CODE alliance, a testament to its dedication to enhancing the trading environment through compliance with global standards.

Sumsub and Mercuryo Release Comprehensive Guide for Cryptocurrency Providers to Navigate Travel Rule Compliance

Retrieved on: 
목요일, 3월 28, 2024
Web3, Organization, Environment, AML, Partnership, Travel, European, Ecosystem, Financial Action Task Force, FATF, CTF, Cryptocurrency

LONDON, March 28, 2024 /PRNewswire/ -- Sumsub, a full-cycle verification provider, has teamed up with Mercuryo, a global payments infrastructure platform, to publish a detailed guide for Virtual Asset Service Providers (VASPs), titled "Mastering Travel Rule Compliance". The guide covers everything businesses in the digital token space need to know about the Travel Rule and how to implement it effectively to stay compliant.

Key Points: 
  • LONDON, March 28, 2024 /PRNewswire/ -- Sumsub , a full-cycle verification provider, has teamed up with Mercuryo , a global payments infrastructure platform, to publish a detailed guide for Virtual Asset Service Providers (VASPs), titled " Mastering Travel Rule Compliance ".
  • Addressing the Travel Rule is critical to integrating cryptocurrency into the existing financial landscape and maintaining a secure, accountable and compliant environment.
  • Last year, Sumsub and Mercuryo released an onboarding guide for cryptocurrency businesses to help them build effective user verification in the Web3 space and resolve compliance issues.
  • To download the comprehensive "Mastering Travel Rule Compliance" guide that Sumsub and Mercuryo published today, please visit https://sumsub.com/mastering-travel-rule-guide-2024/
    To learn more about Sumsub's Travel Rule solution and book a demo, please go to https://sumsub.com/travel-rule/

Sumsub to Streamline Global Travel Rule for VASPs

Retrieved on: 
화요일, 3월 26, 2024
Crypto, Partnership, Trust, GTR, Travel, Fintech, Ecosystem, FATF, Cryptocurrency

LONDON, March 26, 2024 /PRNewswire/ -- Sumsub, a global full-cycle verification and compliance provider, today announces the integration of its Travel Rule solution with Binance, the world's leading cryptocurrency exchange platform, through the Global Travel Rule (GTR) Alliance. The new integrated solution is aimed at providing access to a large ecosystem of Virtual Asset Service Providers (VASPs) who are participants of Sumsub Travel Rule ecosystem, as well as financial institutions and fintech companies involved in crypto transactions to ensure secure transaction data validation when dealing with Binance entities which in total encompass 183M+ users.

Key Points: 
  • Sumsub, a global full-cycle verification platform, integrates with GTR, to make sure crypto companies can securely validate data with GTR ecosystem
    LONDON, March 26, 2024 /PRNewswire/ -- Sumsub , a global full-cycle verification and compliance provider, today announces the integration of its Travel Rule solution with Binance, the world's leading cryptocurrency exchange platform, through the Global Travel Rule (GTR) Alliance.
  • Steve Christie, Deputy Chief Compliance Officer at Binance, shares: "Global Travel Rule Alliance is an exciting step forward in solidifying our international compliance efforts.
  • "Integrating with Global Travel Rule Alliance is a significant milestone for us, underscoring the importance of collaboration in the crypto space.
  • Looking forward, Sumsub is empowered to work toward natively integrating other protocols into its Travel Rule solution in the future."

DMG Blockchain Solutions Announces Investment in Digital Asset Custody Solution

Retrieved on: 
목요일, 2월 22, 2024
Crypto, DMG, Fidelity, FINTRAC, Meta Platforms, TC Energy, Alberta Securities Commission, State-owned enterprise, CAD, LLB, Head, Ethics, Marketing, Bank, MBA, CFE, CFA, CBV, Cloud computing, PLG, AML, MEM, GTM, Carbon, FATF, Meta, Trust, Bank of America, Insurance, TSX, Public sector, MLRO, CFP, Family, International (Amtrak train)

VANCOUVER, British Columbia, Feb. 22, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and data center technology company, announces it has committed CAD $3.5 million to establish a Calgary, Alberta based independent digital asset custody solution for institutional clients.

Key Points: 
  • VANCOUVER, British Columbia, Feb. 22, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and data center technology company, announces it has committed CAD $3.5 million to establish a Calgary, Alberta based independent digital asset custody solution for institutional clients.
  • The capital commitment for this digital asset custody solution will be made over time and as required to support the regulatory review process.
  • Sheldon Bennett, CFE, MBA - CEO and Director of DMG Blockchain Solutions and Chair of Systemic Trust.
  • Most recently as Binance Canada’s Chief Technology Officer, he spearheaded the implementation and launch of its Crypto Trading Platform and digital asset custody service.

Sigma360 Announces Significant Upgrades to Adverse Media Screening Capabilities

Retrieved on: 
수요일, 2월 28, 2024
AI, API, Risk management, Financial Action Task Force, Overalls, Risk, PEP, FATF, Organization, NLP, Benchmarking, Online shopping

NEW YORK, Feb. 28, 2024 /PRNewswire/ -- Sigma360, a leading AI-powered risk screening and monitoring platform that enables compliant global commercial relationships, today announced powerful new features and technical capabilities that drive enhanced risk management and significant productivity for organizations who leverage, or seek to leverage, adverse media as a key tenant of their global compliance strategy.

Key Points: 
  • "I am proud to say that our continued investment in AI and overall system configurability is driving significant efficiency gains for our clients, particularly as it relates to adverse media screening, a historically thorny problem for organizations to get right," said Stuart Jones, Jr., CEO of Sigma360.
  • "Our goal is to deliver the absolute best adverse media screening capability available, while also providing lightning fast PEP and Sanctions screening all from a single platform and API call."
  • The Sigma360 platform automates the process of assessing individuals and companies across vast amounts of data, such as global media.
  • To learn more about Sigma360's adverse media screening and monitoring capabilities, please visit: https://www.sigma360.com/solutions/adverse-media
    To view Sigma360's adverse media capabilities in practice, visit the Risk Event Heatmap: https://www.sigma360.com/solutions/adverse-media#heatmap