Tags: FATF

Today in Crypto: Fines and Prison for Unregistered Crypto Firms in Cyprus, OrdinalsBot Raise $1 Million, Zimbabwe Gold is Now a Payment Method

The Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering Law.

Travel Rule Enforcement Begins for Crypto Firms in the UK – Here‘s What You Need to Know

The U.K. passed legislation in 2022 to make it one of the few countries in compliance with the extension of the Travel Rule to crypto.

The country emphasizes the necessity of dealing with digital assets’ risks for developing economies.

Qatar Needs To Make Some ‘Major Improvements’: Money Laundering Watchdog Says

The licensed financial institutions would be required to verify the identities of all customers.

While adopting restrictions on transactions between exchanges, bitFlyer still supports transactions to and from self-custody wallets like MetaMask.

Japanese Gov’t Green-lights Travel Rule Adoption – Are Crypto Exchanges Struggling to Comply?

FATF President Calls on G-7 To Take the Lead To Regulate Crypto Ahead of Japan Summit

Pakistan Finance Minister Says Country Will Never Legalize Crypto, Cites FATF Regulations

Pakistan was taken off the FATF gray list in October, and it has good reasons to want to stay in international good graces.

Part of the FATF‘s ‘Travel Rule’ includes recommendations that financial institutions obtain information on the originators and beneficiaries of certain crypto transactions.

The global financial crime watchdog‘s plenary, made up of 206 members including observer organizations like the UN, also agreed to take stock of what jurisdictions have been doing so far.

The jurisdiction of that agency is specified in a bill that is under discussion in the Argentine Congress.