Analysis Crypto by Thebittimes.Com

In a consultation paper released on Nov. 24, the European Banking Authority (EBA), an EU agency tasked with implementing a standard set of rules to regulate banking across all EU countries, highlights that existing regulations governing Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) standards compliance for crypto provide rs are inadequate.  The EBA has since invited interested parties to provide comments until Feb. 26. The proposal, in effect As stated in the Executive Summary, the paper comes as bid to enhance measures for detecting missing or incomplete information on the payer or payee; the EBA is suggesting the repeal of the 2017 Joint European Supervisory Authorities (ESAs) Guidelines under Article 25 of Regulation (EU) 2015/847. This move aims to streamline procedures and better manage fund transfers lacking essential information within the regulatory framework. Worth noting is that in section four of the consultation paper, labeled “P...

Crypto policy making efforts have been reignited in South Korea after a woman was murdered following a dispute over digital assets. Lawmakers from South Korea are pushing to enshrine stricter regulation of digital assets in the wake of a gruesome murder case involving digital assets.  According to a May 18 Bloomberg report, a Korean woman was abducted on March 29 and later murder ed in a dispute believed to have stemmed from a disagreement over crypto currency-related losses — adding to a string of digital-asset-related scandals including Do Kwon’s Terra Money ecosystem collapse in May last year. The recent murder case has reportedly added urgency for lawmakers to expedite the nation’s first standalone crypto bill, which could be passed in a parliamentary vote later this month. 강남 납치·살인 3인조 구속…강도살인·사체유기 혐의https://t.co/TZmeX6uPns — 핫뉴스 (@hotnews_oxo) April 3, 2023 “There is finally a consensus on both sides of the aisle that we need to get a law in place as soon as possible,...