Daily Archives: 11/03/2021

INATBA: “EU cryptocurrency regulation will hinder innovation but eliminate fraud”

According to a survey by INATBA, most cryptocurrency firms believe that the EU Cryptocurrency Regulation (MiCA) bill will hinder innovation but reduce fraud. The International Association for the Development of Trusted Blockchain Applications (INATBA) conducted a survey of 44 CEOs of cryptocurrency firms and startups to get their opinion on the MiCA bill. An unofficial version of the MiCA proposed by the European Commission hit the web last fall. The bill contains the rules for…

In South Korea cryptocurrency exchanges will be fined for not complying with AML rules

In South Korea cryptocurrency exchanges will be fined for not complying with AML rules The Financial Services Commission of South Korea (FSC) has introduced new rules according to which cryptocurrency exchanges will be fined for non-compliance with anti-money laundering (AML) rules. Under the new rules, virtual asset service providers (VASPs), including cryptocurrency exchanges, will be fined if: VASPs do not track and report suspicious transactions; digital asset firms do not store relevant suspicious transaction data;…