Bank Innovation

SEPTEMBER 21, 2017

China has reportedly banned all bitcoin executives from leaving its borders as part of the country’s crackdown on its cryptocurrency industry. Though these reports named bitcoin executives in particular, some see the move as the onset of a larger “war” between governments everywhere and all cryptocurrencies.

cryptocurrency 345

cryptocurrency Bitcoin Industry Report 345

Bank Innovation

SEPTEMBER 12, 2017

EXCLUSIVE- Governments around the world are enacting new regulatory policies in response to the growing popularity of cryptocurrencies and ICOs.

cryptocurrency 247

cryptocurrency How To Regulation Policies 247

Bank Innovation

APRIL 5, 2018

The Reserve Bank of India (RBI) strikes cryptocurrency again. This time India’s central bank issued a statement today banning all entities that fall under its regulation, from dealing with any cryptocurrencies. Today’s statement read: Technological innovations, including […].

cryptocurrency 273

cryptocurrency Regulation Innovation Technology 273

Bank Innovation

APRIL 2, 2018

Taxes on cryptocurrency? That’s what regulators in Thailand are planning to institute. Taxing cryptocurrency is a way for […]. According to a report by Nikkei Asian Review, after a cabinet meeting suggested that crypto traders could be charged with as much as 7% value added tax as well as up to 15% tax on capital gains.

Taxes 220

Taxes cryptocurrency Meeting Regulation 220

Bank Innovation

APRIL 24, 2018

EXCLUSIVE— Cryptocurrencies are experiencing one of their highest points in recent weeks, after remarks made by former financial regulator Gary Gensler brought back concerns that certain tokens should really be considered securities.

cryptocurrency 247

cryptocurrency Security Regulation Bitcoin 247

Bank Innovation

JANUARY 23, 2018

Japanese cryptocurrency exchange bitFlyer today announced its launch in Europe. bitFlyer, the first Bitcoin exchange to be regulated in Japan and the U.S., said it received a Payment Institution (PI) license to operate in the European Union.

cryptocurrency 255

cryptocurrency Bitcoin Regulation Operations 255

Bank Innovation

APRIL 4, 2018

South African Reserve Bank (SARB), the country’s central bank, is laying the framework for regulating cryptocurrency by establishing a special unit to monitor developments in the space. The unit’s first task, according to a Finextra report, is to set up a proof of concept (PoC) for DLT-based interbank clearing and settlement.

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cryptocurrency Regulation Report Bitcoin 186

Bank Innovation

OCTOBER 12, 2017

The People’s Republic of China will likely re-legalize cryptocurrency trading, ending its nation-wide ban on crypto exchanges from early September, as reported by cnLedger, a well-known source on cryptocurrency news in China.

cryptocurrency 268

cryptocurrency National Report Bitcoin 268

Bank Innovation

OCTOBER 3, 2017

The Acting Comptroller of the Currency of the United States, Keith Noreika, has stated that he is considering imposing a nationwide licensing program for cryptocurrency exchanges, similar to the licensing program recently enacted in Japan. Last week, Japan’s […].

United States 284

United States cryptocurrency Bitcoin National 284

Bank Innovation

OCTOBER 16, 2017

Russian Minister of Communications and Mass Communications Nikolai Nikiforov has announced that the Russian state will “quickly” issue its own cryptocurrency, called the “CryptoRuble,” as reported by the Russian publication AIF.

cryptocurrency 275

cryptocurrency Report Compliance Online 275

Bank Innovation

OCTOBER 18, 2017

The Russian government is poised to launch the world’s first national cryptocurrency, the CryptoRuble, in the next few weeks, after which it will likely ban all other cryptocurrencies, effectively establishing a state monopoly over the Russian cryptocurrency market.

cryptocurrency 236

cryptocurrency National Marketing Compliance 236

Abrigo

FEBRUARY 8, 2022

What NBFIs Should Know About Their AML Programs NBFI AML compliance requirements are top of mind in today's regulatory environment. Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. NBFIs’ AML compliance requirements. DOWNLOAD . Competing with Banks.

Compliance 195

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Perficient

FEBRUARY 27, 2025

The rise of digital banking, cryptocurrency, blockchain, and AI adoption across banking operations will prompt regulatory bodies to implement clearer frameworks and guidelines to ensure stability and consumer protection. By ensuring compliance with regulations, banks mitigate risks and maintain trust with customers and regulatory authorities.

Banking Trends 221

Banking Trends Trends Digital Banking Customer Experience 221

PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. In a recent interview with PYMNTS, Bankera Co-founder Vytautas Karalevi?ius As Karalevi?ius

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cryptocurrency Compliance Regulation Payments 283

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. financial institutions (77 percent) for AML compliance.

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cryptocurrency Regulation Compliance blockchain 116

Bank Innovation

APRIL 30, 2018

EXCLUSIVE— While the debate over whether cryptocurrencies are actually currencies, securities, or somehow a mix of the two drags on, there’s another question crypto enthusiasts should ask: does it matter? regulator Gary Gensler noted that in his mind, […].

cryptocurrency 186

cryptocurrency Security Regulation Compliance 186

PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept. This in the wake of the OCC’s Sept.

cryptocurrency 323

cryptocurrency Regulation Trends Bitcoin 323

PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Regulators and lawmakers, however, can latch onto digital currency efforts as they must monitor and also supervise such stablecoins. In a paper that debuted Tuesday (Nov. The Value Of CBDC .

Regulation 231

Regulation Bitcoin Cleveland Study 231

Bank Innovation

DECEMBER 7, 2017

cryptocurrency exchange bitFlyer wants to bridge the trading gap between two of the world’s largest bitcoin markets. EXCLUSIVE — With its recent launch in the U.S., Japan is the largest bitcoin trading market in the world, about 50% of it happens in there; the U.S.

cryptocurrency 236

cryptocurrency Bitcoin Operations Marketing 236

PYMNTS

JULY 8, 2019

and compliance teams would manually check onboarding customers to make sure their records were clear. Wiping out the manual process and handling compliance in an automated fashion can propel companies forward,” Meier said. A client who passed through compliance checks on day one might not be compliant on day 500, for example.

Compliance 202

Compliance Data System Fintech 202

Bank Innovation

MARCH 21, 2018

World economic leaders, who have gathered in Buenos Aires, Argentina for the G20 summit, have set a July deadline to gather concrete information on cryptocurrency, but have turned away from declaring a need to actually to put in place a unified set of regulations on cryptocurrency.

Regulation 186

Regulation cryptocurrency Data Compliance 186

PYMNTS

DECEMBER 9, 2020

There are currently more than 5,500 different cryptocurrencies in circulation, but the biggest name in the business — and often a metonym for the industry itself — is bitcoin. regulations.”. compliance regulations or have the necessary equivalent documents for verification. The year 2020 saw 18.42

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cryptocurrency South Dakota Bitcoin Regulation 166

PYMNTS

OCTOBER 12, 2020

regulators cracked down on the firm Oct. regulators not coming as a surprise. BitMEX has announced a new Chief Compliance Officer in Malcolm Wright, who will serve in the role for 100x Group, which operates HDR Global Trading Limited, which runs BitMEX.

Bitcoin 261

Bitcoin Compliance Lending Regulation 261

PYMNTS

JANUARY 28, 2020

10, with new regulations for cryptocurrencies, wallets and exchanges. Issuers, merchants, payments service providers (PSPs) and other interested parties are closely watching developments in AML/KYC and counter terrorist financing (CTF) regulations, as governments worldwide clamp down strongly on identity scams.

Compliance 151

Compliance cryptocurrency Fraud Regulation 151

Abrigo

JULY 21, 2022

Teaching branch staff these KYC tips can aid CDD compliance BSA Officers can help tellers and other branch staff learn how to ask questions that both foster relationships and support CDD compliance. . But they can also help your BSA team by supporting Know Your Customer (KYC) and Customer Due Diligence (CDD) compliance. .

Compliance 195

Compliance Training Fraud Examples 195

PYMNTS

JULY 16, 2019

France’s financial regulator is set to approve a wave of cryptocurrency-related firms in the country, subjecting them to new rules that include paying taxes and complying with capital requirements and consumer protections, according to a report by Reuters. Because digital currency is so new, regulations vary around the world.

Regulation 143

Regulation Company cryptocurrency Taxes 143

PYMNTS

JULY 15, 2020

with an app and debit card, is expanding its range of services into the realm of cryptocurrency trading with a big assist from Paxos. According to New York-based Paxos, the API-based solution is designed to enable companies to “integrate cryptocurrency buying, selling, holding and sending capabilities into their own applications.”.

US 233

US cryptocurrency FDIC Compliance 233

Perficient

DECEMBER 3, 2021

The Office of the Comptroller of the Currency (“OCC”) issued a letter (1179) that national banks and federal savings associations must demonstrate that they have adequate controls in place before they can engage in cryptocurrency, distributed ledger, and stablecoin activities. The letters may be accessed directly here: 1170.

National 294

National cryptocurrency Regulation Strategy 294

Bank Innovation

SEPTEMBER 6, 2017

EXCLUSIVE – China just jumped on the bandwagon of governments regulating ICOs… by banning them. Joshua Klayman, an expert in the legal aspects of blockchain technology, confirms that new regulations are already changing the global cryptocurrency ecosystem. Klayman, a founding partner and head of […].

cryptocurrency 236

cryptocurrency blockchain Regulation Technology 236

Bank Innovation

SEPTEMBER 26, 2017

Several banks in Singapore have closed the accounts of an estimated 10 firms specializing in cryptocurrency and payments services.

cryptocurrency 150

cryptocurrency blockchain Fintech Industry 150

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. Take cryptocurrencies, for instance. Compliance and risk officers have the unenviable task of finding out, sometimes after the fact, that not all the boxes are checked — if they even knew the boxes were there for checking in the first place.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

Perficient

DECEMBER 27, 2023

This particular scam involves criminals building trust with victims in digital relationships before persuading them to invest in cryptocurrency platforms, ultimately leading to financial losses. Once published by regulators, Perficient’s Risk and Regulatory CoE will be here to walk our clients through the changes.

Compliance 221

Compliance FDIC Regulation Fraud 221

Abrigo

FEBRUARY 28, 2025

Variations include: Pig butchering scams Scammers build relationships with victims through social media or dating apps, persuading them to invest in cryptocurrency or other financial opportunities. Investment schemes : Investment scams lure victims with promises of high returns and little to no risk, only to steal their money.

Fraud 221

Fraud social media Training Community 221

PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers.

Miami 201

Miami Bitcoin cryptocurrency Florida 201

PYMNTS

OCTOBER 13, 2020

Department of Justice, which said in a report that rogue nations and other risks loom as exchanges are lightly (or not at all) regulated – making it difficult to, as the maxim goes, follow the money. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. In the report from the U.S.

cryptocurrency 206

cryptocurrency United States social media Regulation 206

PYMNTS

DECEMBER 26, 2019

Chinese technology company Tencent has announced it’s going to start researching cryptocurrency and its implications for an ongoing project in blockchain, according to reports. In other recent crackdowns by China’s Communist authorities, companies have faced increasingly steep control and regulation by the government.

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cryptocurrency Company blockchain Exercises 131

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

Fraud 270

Fraud Compliance cryptocurrency Security 270