Falcon Private Bank Launches Crypto Wallet

Wallets Switzerland’s Falcon Private Bank has introduced a cryptocurrency wallet as well as support for direct transfers of BTC, BCH, ETH and LTC for private and institutional investors. The bank said investors can now directly transfer cryptocurrencies to and from its own “segregated Falcon wallets.” They can also convert their digital coins into cash. Also read: Chile […]

Why Some Crypto Companies Consider KYC and AML Compliance Unnecessary

Privacy When it comes to cryptocurrency regulation, there is a lack of consensus on how to protect investors. Criminal activity such as fraud, hacks and theft is prevalent, not only in the crypto realm, but in the traditional financial world too.  Some exchanges have deemed know your customer (KYC) and anti-money laundering (AML) compliance as […]

Buying and Selling Property With Bitcoin Is More Complex Than It May Seem

Economics Buying and selling property using cryptocurrency is less straightforward than was first assumed. The handful of mortgage lenders and realtors who were initially keen are now reluctant to accept crypto deposits due to money laundering fears. Until there is greater clarity concerning crypto regulation, due diligence procedures and taxation, potential participants are opting to […]

Nigeria’s Union Bank Threatens to Shut Down Cryptocurrency-Related Accounts

Emerging Markets A large commercial bank in Nigeria has threatened to shut down an undisclosed number of cryptocurrency-related accounts without explanation. Lagos-based Union Bank claims that any decision to do so would be in line with the Central Bank of Nigeria’s (CBN) past warnings about cryptocurrency trading. Also read: Malaysian MP “Concerned About Threat” From Cryptocurrencies […]

Namibian Bitcoin Trading Platform BTN Trudges on Despite Partial Crypto Ban

Emerging Markets Bitcoin Trade Namibia (BTN), an emerging bitcoin marketplace, is trying to make things work for Namibians keen on investing in digital assets, even though it could take up to three days before buy orders are settled. However, in an industry where government forces crave control, the delay looks like it should be worth […]

Brazil’s Tax Authority Goes After Cryptocurrency Profits

Taxes Brazil’s tax authority has published proposals to regulate the cryptocurrency landscape over concerns digital assets are being used to launder money and evade tax. A document released by the Department of Federal Revenue of Brasil (RFB) disclosed plans that will force cryptocurrency traders to reveal their identities and for exchanges to submit financial reports […]

U.K Government Moots Ban on Cryptocurrency Derivatives

Regulation The U.K. government is considering a ban on cryptocurrency-linked derivative products. The Financial Conduct Authority said in a report on Oct. 29 that it will begin consultations on whether to ban the sale of derivatives based on digital coins like BTC as well as to restrict crypto-based contracts of difference to the public. Virtual […]

Binance Teams up with Chainalysis to Work Towards Regulatory Compliance

Two of the cryptocurrency industry’s biggest names are partnering up in an effort to bring greater regulatory compliance to the space. Leading digital asset exchange platform Binance and blockchain analysis firm Chainalysis will be working together on solutions to earn the trust of global regulators. Chainalysis Working with Binance on KYC and AML Compliance According […]

Cryptocurrency Exchange Hacking Jumped 250% YTD, Says Report

A report on cryptocurrency theft published by cyber security firm CipherTrace found that hacking of exchanges and trading platforms has jumped 250 percent in the first nine months of 2018 on a year-over-year basis, reaching $927 million. $2.5 Billion Laundered on Top 20 Cryptocurrency Exchanges, Says CipherTrace Report Smaller thefts within the digital currency space, […]