Digital currency firms must report any transaction that exceeds $87,000 to regulators, whether the firm is registered locally or under another jurisdiction.
What the Taproot update does is make the responsibility for laundered coins to fall more broadly on the shoulders of every participant in the network.
The bill is seeking to increase the amount of tax the Israeli government collects from the industry, but several leaders in the space are already up in arms against it.
With the implementation of the digital euro, digital identities linked to wallets, and new regulations allowing for increased oversight and enforcement, the EU will become an increasingly unfriendly jurisdiction for criminals or those who play fast and loose with the law.
Policymakers in the European Union proposed that all companies that transfer BTC and other “crypto-assets” must collect details of the senders and recipients in an effort to crack down on crimes.
The head of the Financial Services Commission said that these exchanges must comply with the revised laws that requires exchanges to establish banking relationships and verify users’ identities.
The Dutch central bank has taken a U-turn on KYC and AML requirements it had imposed on digital asset providers, after the court directed it to consider the objections raised by the Bitonic exchange.
In a regulatory filing with the U.S. Securities and Exchange Commission, the company revealed it’s facing the penalties over issues related primarily to anti-money laundering and cybersecurity.
Michele Korver joins the federal agency after a run at the U.S. Department of Justice where she was instrumental in shaping some of today’s most critical digital currency policies.
Digital currency businesses looking to operate in the United Kingdom are reportedly finding the licensing terms set out by the Financial Conduct Authority to be too challenging.
In its job post, the department outlined that the successful applicant will serve as an expert on digital currencies and blockchain technology. The position will be in the department’s money laundering section.