Tagged: amld5

August 25, 2020 @ 8:27 am By Omar Faridi  |  

The Bank for International Settlements (BIS), a global financial institution owned by reserve banks that aims to support international monetary and financial cooperation and acts as a bank for central banks, has noted that central bank digital currencies (CBDCs) are now “in the limelight.” However,… Read More

April 25, 2020 @ 5:52 pm By Omar Faridi  |  

Netherlands-based Bittr, a Bitcoin (BTC) savings service, is reportedly closing down its business. Ruben Waterman, the company’s founder, said that newly-enforced financial regulations were the main reason why Bittr decided to shut down its services. The AMLD5 became effective July 9, 2018, and required the… Read More

February 9, 2020 @ 3:08 am By Omar Faridi  |  

BaFin, Germany’s financial supervisory authority, recently clarified how the leading European nation’s new crypto-asset custody law would apply to companies that are operating outside of the country, yet still serve local markets. BaFin’s latest guidance, published last month, notes that firms which are currently custodying… Read More

September 4, 2019 @ 1:09 am By Cali Haan  |  

The Netherlands’ central bank has advised the country’s cryptocurrency sector to prepare to come under the regulator’s “integrity supervision” scheme by the 10th of January 2020. De Nederlandsche Bank says it is, “required to start supervising these businesses under the fifth European anti-money laundering directive (AMLD5)… Read More