4th August 2016
An online giveaway of 1,000 bitcoins (worth $580,000) has prompted speculation that it is part of an elaborate money laundering scheme by hackers who stole $70m worth of the cryptocurrency from an exchange. On Tuesday, August 2, the popular cryptocurrency exchange Bitfinex (BFX) revealed that it had suffered a major… Read More
4th August 2016
Last month, the European Commission published a draft directive proposing to extend anti-money laundering (AML) regulation to both virtual currency exchange services and custodial wallet providers. The draft suggests that many Bitcoin companies operating within the European Union will need to apply know-your-customer (KYC) types of checks on their users, to… Read More
2nd August 2016
Officials from the Bangladesh central bank are visiting Manila this week to pressure the authorities in the Philippines to find ways to return the $63 million that is still missing out of the funds stolen from its account at the Federal Reserve Bank of New York earlier this year, two… Read More
29th July 2016
A proposed amnesty will provide Turks with a final tax-free opportunity to repatriate money held overseas ahead of the culmination of a G-20 effort to shut global loopholes, according to Finance Minister Naci Agbal. “All countries are now passing regulations to bring back money held by their own nationals before… Read More
29th July 2016
A court monitor has found that Western Union has successfully implemented protections recommended by the Arizona Attorney General’s Office to stop the wiring of illicit cash. Read More
28th July 2016
The Payment Systems Regulator (PSR) has called for an overhaul of the UK's payments infrastructure to generate more competition and meet consumers' needs. Read More
28th July 2016
Bitcoin trading is going through peaks and lows everywhere in the world at some point in history. Over the past few weeks, however, some countries seem to show an increased interest in this cryptocurrency. Particularly Malaysia stands out, although that is not entirely surprising, given their stance on easing Fintech regulation in general. Read More
27th July 2016
In a rather extraordinary move, four of Australia’s largest banks have written to Australia’s competition regulator requesting permission to join together in a collective boycott whilst they negotiate with third-party mobile wallet services including Apple Pay, Android Pay and Samsung Pay. The banks seeking permission include 3 of the ‘Big… Read More
26th July 2016
The European Commission – the executive arm of the European Union – has proposed a directive aimed preventing the use the financial system for terrorist financing which includes a central database for bitcoin and virtual currency users’ identities and wallet addresses accessible to government financial intelligence units (FIUs). Read More
26th July 2016
A Miami-Dade judge ruled Monday that Bitcoin is not actually money, a decision hailed by proponents of the virtual currency that has become popular across the world. In a case closely watched in financial and tech circles, the judge threw out the felony charges against website designer Michell Espinoza, who… Read More