🚀 Moonpay Registers With AUSTRAC To Offer Digital Currency Exchange Services In Australia
#Moonpay #AUSTRAC #DigitalCurrency #Cryptocurrency #Australia #PaymentProcessing #KYC #AntiMoneyLaundering #CounterTerrorismFinancing
According to Odaily, cryptocurrency payment infrastructure provider Moonpay has successfully registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC). This registration enables Moonpay to offer digital currency exchange services within Australia. With this new status, Moonpay can establish local payment processing relationships and provide alternative payment methods such as Osko and Pay ID to Australian users.
As a registered entity, Moonpay is required to comply with Australia's Anti-Money Laundering and Counter-Terrorism Financing Act. This includes adhering to reporting obligations, Know Your Customer (KYC) protocols, and record-keeping requirements.#Moonpay #AUSTRAC #DigitalCurrency #Cryptocurrency #Australia #PaymentProcessing #KYC #AntiMoneyLaundering #CounterTerrorismFinancing
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🚀 Uruguay Enacts Cryptocurrency Law After Two Years Of Deliberation
#Uruguay #CryptocurrencyLaw #VirtualAssets #CentralBank #Regulation #VASPs #AntiMoneyLaundering #CounterTerrorismFinancing #DecentralizedSecurities #DistributedLedgerTechnology
According to PANews, Uruguay has officially enacted a cryptocurrency law after more than two years of discussions. The law, initially proposed two years ago, recognizes cryptocurrencies as virtual assets in the country and designates the Central Bank of Uruguay as the regulator and overseer for companies seeking to provide cryptocurrency services. This move positions Uruguay among the leading Latin American countries that have integrated cryptocurrencies into their regulatory frameworks.
The Central Bank of Uruguay will oversee virtual asset service providers (VASPs) and is responsible for issuing operational licenses to such organizations. The issuance of these licenses will take into account factors such as legality, opportunity, and convenience. Additionally, the Financial Services Supervision (SSF) must identify exchanges, wallets, and even miners that fall under the VASP category.
The new law also amends existing anti-money laundering and counter-terrorism financing regulations to include virtual assets under the control and supervision of current enforcement agencies. Furthermore, it reforms securities law by introducing the concept of decentralized securities, which are issued, stored, transferred, and traded electronically through distributed ledger technology.#Uruguay #CryptocurrencyLaw #VirtualAssets #CentralBank #Regulation #VASPs #AntiMoneyLaundering #CounterTerrorismFinancing #DecentralizedSecurities #DistributedLedgerTechnology
🚀 Crypto News: EBA Proposes Central Contact Points for Crypto-Asset Providers to Strengthen AML/CFT Compliance
#EBA #CryptoAssets #AML #CFT #RegulatoryStandards #PublicConsultation #CASPs #Compliance #EURegulations #FinancialSupervision #AntiMoneyLaundering #CounterTerrorismFinancing #VirtualHearing #StakeholderEngagement
The European Banking Authority (EBA) has launched a public consultation on draft Regulatory Technical Standards (RTS) aimed at bolstering anti-money laundering (AML) and counter-terrorism financing (CFT) compliance among crypto-asset service providers (CASPs) operating in the European Union. The consultation, open until February 4, 2025, seeks feedback on the criteria for appointing central contact points (CCPs) to ensure compliance with host Member State regulations.Addressing Supervision Challenges for CASPsCASPs often provide services across Member States through establishments other than branches, creating challenges for AML/CFT supervision. These establishments, while not always classified as “obliged entities,” must adhere to local AML/CFT rules. The EBA’s draft RTS outlines the criteria for determining when a CCP is necessary and specifies their responsibilities.To align CASPs with existing frameworks for electronic money issuers (EMIs) and payment service providers (PSPs), the EBA proposes extending the structure of the Commission Delegated Regulation (EU) 2018/1108 to CASPs. Additional provisions are being introduced to address the unique operational models of CASPs.Consultation Process and Public HearingThe EBA invites stakeholders to submit comments via its consultation page by February 4, 2025. A virtual public hearing will be held on January 16, 2024, from 15:00 to 17:00 CET. Interested participants must register by January 3, 2024. Feedback collected will be published unless confidentiality is requested.Regulatory Background and Next StepsThe initiative builds on Article 45(10) of Directive (EU) 2015/849, which mandates the development of RTS for determining when and how CCPs should be appointed. Regulation (EU) 2023/1113, effective December 30, 2024, extends AML/CFT requirements to CASPs, necessitating updates to the existing Commission Delegated Regulation (EU) 2018/1108.The proposed RTS aims to provide clarity and strengthen regulatory oversight, ensuring that CASPs operate within robust AML/CFT frameworks across Member States.#EBA #CryptoAssets #AML #CFT #RegulatoryStandards #PublicConsultation #CASPs #Compliance #EURegulations #FinancialSupervision #AntiMoneyLaundering #CounterTerrorismFinancing #VirtualHearing #StakeholderEngagement
🚀 Ghana Finalizes Cryptocurrency Regulation Framework
#Ghana #Cryptocurrency #Regulation #DigitalAssets #BankOfGhana #AntiMoneyLaundering #CounterTerrorismFinancing #ForeignExchange #MonetaryStability
According to Odaily, the Governor of the Bank of Ghana, Johnson Asiama, announced that Ghana is finalizing a regulatory framework for cryptocurrency trading. This framework aims to bring trading platforms and other digital asset platforms under formal regulation. The regulation will enable the Bank of Ghana to include virtual currencies within its anti-money laundering and counter-terrorism financing rules, ensuring that digital innovation supports rather than undermines foreign exchange controls and monetary stability.#Ghana #Cryptocurrency #Regulation #DigitalAssets #BankOfGhana #AntiMoneyLaundering #CounterTerrorismFinancing #ForeignExchange #MonetaryStability
🚀 South Korea to Enhance Stablecoin Regulations and AML Measures
#SouthKorea #Stablecoin #Regulations #AML #FinancialServices #VirtualAsset #Payments #CrossBorderTransfers #CounterTerrorismFinancing #FinancialIntelligenceUnit
According to PANews, the Financial Intelligence Unit (FIU) under South Korea's Financial Services Commission (FSC) initiated a study on August 6, 2025, focusing on the second phase of virtual asset legislation and anti-money laundering (AML) measures for stablecoins. The FSC announced that the forthcoming legislation is expected to incorporate stablecoins into the regulatory framework, enabling their use for payments and cross-border transfers. The study will evaluate global regulatory approaches to stablecoins and examine applicable AML and counter-terrorism financing (CFT) standards.#SouthKorea #Stablecoin #Regulations #AML #FinancialServices #VirtualAsset #Payments #CrossBorderTransfers #CounterTerrorismFinancing #FinancialIntelligenceUnit
🚀 Trinidad and Tobago Passes Virtual Asset Regulation Bill
#TrinidadAndTobago #VirtualAssetRegulation #Cryptocurrency #Caribbean #FATF #AntiMoneyLaundering #CounterTerrorismFinancing #Legislation #Innovation #Government #Opposition #FinancialRegulation
According to ChainCatcher, the Parliament of Trinidad and Tobago has approved the Virtual Asset and Virtual Asset Service Providers Bill with a vote of 25 to 11, establishing a regulatory framework for cryptocurrency activities in the Caribbean nation.
The legislation aims to align with the Caribbean Financial Action Task Force's (FATF) anti-money laundering and counter-terrorism financing standards, in preparation for the FATF's on-site evaluation scheduled for March 2026. The bill's passage was marked by controversy, as the opposition accused the government of procedural violations by submitting a 48-page document with over 200 amendments just minutes before the debate commenced.
Critics have expressed concerns that the stringent nature of the bill could stifle innovation. However, the government maintains that the amendments were developed following extensive consultations with the central bank, securities regulators, and industry stakeholders.#TrinidadAndTobago #VirtualAssetRegulation #Cryptocurrency #Caribbean #FATF #AntiMoneyLaundering #CounterTerrorismFinancing #Legislation #Innovation #Government #Opposition #FinancialRegulation
🚀 Launch of Digital RMB Services for Corporate Clients by Agricultural Development Bank of China
#DigitalRMB #AgriculturalDevelopmentBank #CorporateClients #Shanghai #NationalStrategy #DigitalCurrency #AML #CounterTerrorismFinancing #Compliance
The Agricultural Development Bank of China Shanghai Branch has announced the introduction of digital RMB services for corporate clients, effective February 25. According to NS3.AI, this initiative aligns with the national digital RMB strategy, offering compliant solutions for digital currency circulation. The operations will adhere to regulatory requirements, including anti-money laundering and counter-terrorism financing rules, to ensure safety and compliance.#DigitalRMB #AgriculturalDevelopmentBank #CorporateClients #Shanghai #NationalStrategy #DigitalCurrency #AML #CounterTerrorismFinancing #Compliance