Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: the Central Bank of Chile will keep experimenting with CBDC, Argentina’s VASPs will have to register to provide services in the country, and Argentines are warming up to bitcoin as an investment instrument.…
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A U.S. Federal Judge has been urged to accept a plea deal from U.S. authorities with the cryptocurrency exchange, Binance. Prosecutors, in a memorandum, have asserted that the agreed-upon sanctions are commensurate with the extent of Binance’s deliberate law violations. Binance’s Alleged Refusal to Register as a Money Services Business U.S. prosecutors have reportedly urged…
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Diana Tlupova, Head of Compliance at Nexera ID, has argued players in the decentralized finance (defi) space can stay ahead of regulators who might want to impose stringent Know-Your-Customer (KYC) rules by using zero-knowledge (zk) proofs to authenticate user credentials. Tlupova contends that, in addition to allowing users to maintain control over their KYC data,…
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Elizabeth Warren continues pressing for tighter regulation, and Vivek Ramaswamy promises to defend crypto from the government’s overreach if elected. The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit…
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Discussions around illicit activity, such as money laundering and terror financing, will take center stage at the Financial Services Committee hearing. The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the…
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The Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering Law. One of the friendliest European jurisdictions to crypto, Cyprus, might bring its industry regulation to tighter standards. According to an Oct. 10 report by the Cyprus Mail, the local Ministry of Finance intends to amend the existing Prevention and…
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Bad actors exploited Estonia’s once liberal licensing regime for crypto companies to defraud investors and commit other crimes, an investigative report claims. The authors say they discovered dozens of such cases, including scams and schemes for sanctions evasion and money laundering. Since Tallinn tightened its rules, many of these entities have left Estonia, whose banking…
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Integrating crypto into the global financial system has so far proved to be problematic to due what Przemek Kowalczyk, the chief product officer (CPO) of the fintech startup Ramp, described as “digital incompatibility.” Kowalczyk, a data scientist, told Bitcoin.com News that the “two paradigms” use distinct frameworks which in turn makes it difficult for the…
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Coinbase has secured an Anti-Money Laundering (AML) compliance registration from the Bank of Spain, making it a registered crypto exchange in the country. In a Friday blog post, the largest cryptocurrency in the US revealed its expansion across Europe, saying that Spanish users can now confidently store their digital assets on the platform, as well as engage in buying…
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According to Edward Hong, the chief platform officer (CPO) at the early-stage venture firm Hashed, South Korea’s decision to delay putting in place a comprehensive crypto regulatory framework seems to be more of a strategic move rather than hesitation. Hong insisted that the perceived delay helps to ensure that South Korea’s regulatory regime will be…
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