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.

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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 […].

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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.

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Bank Innovation

SEPTEMBER 25, 2017

Even after shutting down dozens of bitcoin exchanges and banning bitcoin executives from leaving its borders, the“mouthpiece” for the People’s Bank of China, Financial News, published an article declaring that Beijing should “accelerate the process of launching a digital currency after it curbed the risks of [en]cryptocurrencies.”

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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.

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Bank Innovation

FEBRUARY 6, 2018

EXCLUSIVE – When it comes to cryptocurrencies and Initial Coin Offerings (ICOs), it seems that the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have their work cut out for them to balance technological innovation with protecting investors.

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Perficient

OCTOBER 24, 2024

This mitigates the risk of customer service representatives providing incorrect information and ensures compliance with regulatory disclosures, ultimately enhancing the overall customer experience while reducing costs.

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Bank Innovation

APRIL 27, 2018

EXCLUSIVE - Technology services provider Synechron launched a regtech program focused on helping its financial services clients on regulatory compliance issues. The program, which Synechron refers to as its Regtech Accelerator Program, went live yesterday.

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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. NBFIs’ AML compliance requirements. But what about the NBFI compliance factor, particularly Bank Secrecy Act and anti-money laundering (BSA/AML) compliance? DOWNLOAD .

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Abrigo

FEBRUARY 28, 2025

Phishing scams Phishing scams involve fraudsters impersonating legitimate entitiessuch as banks, government agencies, well-known companies, or business contactsto trick individuals into providing sensitive information like login credentials, Social Security numbers, or financial details. Start or enhance a customer fraud prevention plan.

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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.”.

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PYMNTS

AUGUST 16, 2020

The bill originally set out to distinguish digital assets from securities. In other news, the Association of Cryptocurrency Enterprises and Start-ups Singapore ( ACCESS ) has rolled out an official Code of Practice, to help standardize the industry and aid players in meeting regulatory compliance, according to a press release.

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PYMNTS

JANUARY 28, 2020

10, with new regulations for cryptocurrencies, wallets and exchanges. In the latest PYMNTS AML/KYC Tracker®, we learn that crypto is increasingly being defined as a security, not a currency – but either way, it’s getting a lot more scrutiny. The European Union’s Fifth Anti-Money Laundering Directive ( 5AMLD ) went into force on Jan.

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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.

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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.

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Bank Innovation

SEPTEMBER 26, 2017

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

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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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Perficient

MAY 25, 2023

PEC was approved as a special purpose broker-dealer (“SPBD”) for digital asset securities. The approval allows Promethium to custody digital asset securities on behalf of both retail and institutional clients. The significance of this is two-fold.

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cryptocurrency United States Retail Security 251

PYMNTS

FEBRUARY 18, 2019

Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. Perhaps the most poignant moment in this evolution came about last week when JPMorgan Chase announced the development of the JPM Coin, the first bank-backed cryptocurrency in the U.S.,

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PYMNTS

NOVEMBER 29, 2018

MovieCoin aims to deploy blockchain, smart contract and cryptocurrency technologies in a wide range of use cases, all geared toward the global movies and entertainment market — one that Grand View Research recently estimated to be worth nearly $1.15 trillion by 2025.

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PYMNTS

SEPTEMBER 14, 2020

The United States may have some of the world's best cryptographers working for the National Security Agency and other spy shops, but the Internal Revenue Service (IRS) is crowdsourcing at least part of its effort to beat the algorithms that cloak information about certain cryptocurrencies. 1 have just taken effect.

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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.

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Bank Innovation

OCTOBER 5, 2017

The White House and Equifax, admittedly two of the nation’s least trusted institutions at the moment, agree that social security as unique identifiers have to go.

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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.

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PYMNTS

JULY 30, 2019

Blockchain-based payment system PumaPay has announced the launch of a new cryptobilling solution which has secured PCI (payment card industry) compliance. Lawmakers said that the reason for the exclusion was to prevent the disappearance of cryptocurrencies from the local economy and interfere with innovation.

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PYMNTS

OCTOBER 18, 2018

The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. Part of the initiative includes the SBA’s guidelines to the nation’s traditional financial services market on how to service these industry players while maintaining compliance.

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Guidelines cryptocurrency blockchain National 213

Abrigo

FEBRUARY 6, 2025

One particularly devastating variation of the confidence scam is " pig butchering ," a scheme in which scammers lure victims into fraudulent investments, most often in cryptocurrency, before disappearing with their funds. Beyond romantic entanglements, scammers also exploit friendships and caregiver relationships.

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PYMNTS

SEPTEMBER 18, 2020

BitPay Secures Wyre Integration. Cryptocurrency payment solution provider BitPay , which services both businesses and consumers, has revealed an integration with Wyre , a partnership that allows users to purchase cryptocurrency within the BitPay Wallet App.

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PYMNTS

DECEMBER 9, 2020

Cryptocurrency platform startup Circle has overhauled its network to advance mainstream trading, while its stablecoin USDC has surpassed three billion in circulation, growing by nearly 500 percent in 2020. “At

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PYMNTS

JULY 24, 2020

has secured $80 million in new funding at a $5.5 with an app and debit card, expanded into cryptocurrency trading with Paxos Trust Co., London startup mobile bank Revolut Ltd. billion valuation as part of its Series D round that kicked off five months ago. Last week, Revolut, which recently debuted in the U.S.

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PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. That’s according to the U.S. Cryptos also help bad actors avoid sanctions.

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PYMNTS

APRIL 13, 2018

Intense industry hype and alarming cryptocurrency volatility have led regulators the world over to perk up their ears to the growing number of cryptocurrency exchanges. According to analysts, the exchanges are concerned that XRP may be considered an unregistered security , as it is controlled by a single company. A property?

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PYMNTS

DECEMBER 29, 2020

Securities and Exchange Commission ( SEC ) has prompted Coinbase to suspend all XRP trading. Paul Grewal , chief legal officer of the cryptocurrency trading platform Coinbase, said in a press release that trade limits went into effect on Monday (Dec. billion “through an unregistered, ongoing digital asset securities offering.”.

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cryptocurrency blockchain Security Compliance 169

PYMNTS

JUNE 27, 2018

Digital money platform Uphold announced that it has reached an agreement to acquire New York Stock Exchange member JNK Securities Corp. If the deal is finalized, Uphold’s compliance footprint will be expanded, as well as its customer base and service offering.

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PYMNTS

AUGUST 11, 2020

Not all that long ago, blockchain and bitcoin were inseparable – shorthand for the Wild West of cryptocurrencies and speculation. Blockchain can help automate compliance efforts and settle trades with speed. to bring the latter’s digital security (ASPEN) to trade on the tZERO ATS platform. Regis Aspen Resort based in Colorado.

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Banking Exchange

JANUARY 18, 2022

Pseudo-anonymity and decentralization are main characteristics of cryptocurrencies Compliance Compliance Management Compliance/Regulatory Feature3 Feature Bank Performance Cryptocurrency Bitcoin Blockchain Cyberfraud/ID Theft Security.

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Perficient

SEPTEMBER 16, 2022

Legal status – There is some question regarding the legal status of many crypto-assets – is it a security, is it fungible, is it a derivative – as well as the very limited legal precedent regarding how crypto-assets would be treated in varying contexts, including, for example, in bankruptcy court. The Home Owners’ Loan Act. Financial risk.

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