Fun

News Feed - 2023-11-24 07:11:45

David Attlee13 hours agoEuropean regulator: CASPs should work on protocol interoperability, self-hosted walletsThe proposed new industry guidelines are intended to address issues around AML and CFT rules.1519 Total views24 Total sharesListen to article 0:00NewsJoin us on social networksThe European Union’s banking regulator, the European Banking Authority (EBA), wants to update existing Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) rules for crypto providers. 


In a consultation paper published on Nov. 24, the EBA explains that current European regulations are no longer sufficient to govern AML/CFT standards compliance among crypto providers. The proposed new industry guidelines are intended to address these issues, and the EBA has given interested parties until Feb. 26, 2024, to comment.


In particular, the EBA suggests merging the AML/CFT criteria for payment service providers and crypto asset service providers (CASPs). It also proposes obliging CASPs to “enable the transmission of information in a seamless and interoperable manner” by enhancing the interoperability of their protocols.


Related:EU tech coalition warns of over-regulating AI before EU AI Act finalization


Under the proposed new rules, CASPs will also be required to obtain and hold information on self-hosted addresses, ensure that the transfer of crypto assets can be individually identified, and verify whether that address is owned or controlled by the CASP customer. These requirements would be enforced when the transfer amount of the self-hosted account is above the 1,000 euro mark, although the EBA doesn’t specify whether this is a monthly, daily or a single-time threshold.


After the consultation process, the new guidelines should come into force on Dec. 30, 2024.


In October, the EBA released a consultation paper assessing the suitability of management body members and shareholders or members holding qualifying stakes in issuers of asset-referenced tokens and CASPs.


In July, the EBA encouraged stablecoin issuers to voluntarily adhere to specific “guiding principles” related to risk management and consumer protection.


Magazine:This is your brain on crypto. Substance abuse grows among crypto traders# EBA# Banks# Europe# European Union# RegulationAdd reactionAdd reactionRead moreStablecoin bill is a ‘no-brainer’ — Consensys director on US legislationBlockchain devs expect complications from EU smart contract kill switchHSBC taps Ripple’s Metaco to launch security token custody

News Feed

Stablecoin Economy Is $10 Billion Away From Reaching a $200 Billion Market Cap
Stablecoin Economy Is $10 Billion Away From Reaching a $200 Billion Market Cap The stablecoin economy has grown during the last month as the market capitalization is now only $10 b
Report: Nigerian Security Agency Seeks to Arrest Central Bank Governor on Charges of Funding Terrorists
Report: Nigerian Security Agency Seeks to Arrest Central Bank Governor on Charges of Funding Terrorists The Nigerian security agency, the Department of State Services (DSS), has re
Price analysis 7/3: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB
Rakesh Upadhyay6 hours agoPrice analysis 7/3: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIBBitcoin price struggles to trade above $60,000, and the bullish setup displayed by altcoins is also beginning to crumble. I
US Federal Reserve Board Issues Policy Statement That Limits Banks’ Crypto Related Activities
US Federal Reserve Board Issues Policy Statement That Limits Banks" Crypto Related Activities The United States Federal Reserve Board said on Jan. 27 that both insured and uninsure
Bitcoin Has No Intrinsic Value, Asset Is Too Volatile, Says Bank of Korea Governor
Bitcoin Has No Intrinsic Value, Asset Is Too Volatile, Says Bank of Korea Governor Bank of Korea Governor Lee Ju-yeol has said that crypto assets like bitcoin ha
Bitcoin Price Leaps Over $38,600- Analyst Says BTC’s Parabolic Move ‘Highly Abnormal’
Bitcoin Price Leaps Over $38,600- Analyst Says BTC"s Parabolic Move "Highly Abnormal" Digital currency markets continue to see strong gains, as the overall marke
Geeking out With RPGs and NFTs: AdaQuest to Hold a Public Sale on KICK․IO
Geeking out With RPGs and NFTs: AdaQuest to Hold a Public Sale on KICK․IO press release PRESS RELEASE. It is surprising how many NFT enthusiasts are also into role-playing games.
Switzerland’s Famed “Crypto Valley” Seeks $103 Million Government Bailout
Switzerland"s Famed "Crypto Valley" Seeks $103 Million Government BailoutSwitzerland’s “crypto valley” is asking the government for 100 million Swiss francs ($102.
Coinbase argues for spot Ether ETFs as analysts warn of ‘concentration risk’
Martin Young3 hours agoCoinbase argues for spot Ether ETFs as analysts warn of ‘concentration risk’“Our letter lays out what anyone knows who’s paid even the slightest bit of attention to the subject: ETH is not
No Developed Nation Bans Cryptocurrencies, Telegram Founder Pavel Durov Warns Russia
No Developed Nation Bans Cryptocurrencies, Telegram Founder Pavel Durov Warns Russia Pavel Durov, founder of the messaging app Telegram, has criticized Bank of Russia’s prop
54% Of Bitcoin Supply Inactive Since 2 Years Despite 500% Price Jump
Este artículo también está disponible en español. On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two years, despite the fact that BT
David Attlee57 minutes agoHuobi, KuCoin, over 140 crypto exchanges ‘non-authorized’ — UK regulatorThe FCA’s list of registered crypto asset providers includes 42 entities and hasn’t changed since August.1099 To