Tagged: vasps

October 28, 2023 @ 7:49 pm By Omar Faridi  |  

Zodia Markets, the Standard Chartered backed digital asset exchange and brokerage platform, announces that it has “received its registration as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland (CBI).” This follows on from the firm “receiving cryptoasset registration from the UK’s… Read More

October 10, 2023 @ 8:33 pm By Omar Faridi  |  

During the 2019 Fintech Week, the Hong Kong Securities and Futures Commission (HKSFC) reportedly demonstrated a stern regulatory stance towards cryptocurrency through its publications “Position Paper: Regulation of Virtual Asset Trading Platforms” and “Warning on Virtual Asset Futures Contracts,” emphasizing strict licensure and professional investor… Read More

August 23, 2023 @ 10:29 pm By Omar Faridi  |  

Komainu, a regulated digital asset custody service provider built by institutions for institutions, announced that it has been granted the operating license by the Virtual Asset Regulatory Authority (VARA) in Dubai after securing its MVP license last November. Achieving this final step in VARA’s licensing… Read More

July 31, 2023 @ 4:16 pm By Omar Faridi  |  

Binance, which is being sued by US regulators for a wide range of issues, is pleased to announce that their Dubai subsidiary, Binance FZE, has reportedly become the first exchange “to receive the Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority… Read More

June 25, 2023 @ 7:25 pm By JD Alois  |  

The FATF (Financial Action Task Force) has just concluded its third Plenary under the Presidency of T. Raja Kumar of Singapore and has posted an update on the gathering. Amongst other hot topics, the group has bemoaned the slow pace of adoption of the FATF… Read More

June 24, 2023 @ 9:58 am By Omar Faridi  |  

Crypto.com announced that it has received its Virtual Asset Service Provider (VASP) registration from the Bank of Spain. Crypto.com secured this registration “following a comprehensive review of its compliance with Anti-Money Laundering Directive (AMLD) and other financial crimes laws, as well as measures to safeguard… Read More

June 20, 2023 @ 9:16 am By Omar Faridi  |  

Mastercard (NYSE: MA) is continuing its move into the volatile crypto sector. The payments giant has submitted a trademark application claiming plans for software for crypto and blockchain/DLT transactions, as well as interconnecting virtual asset service providers for crypto transfers. It appears as if Mastercard… Read More

May 9, 2023 @ 9:56 pm By Omar Faridi  |  

Uppsala Security, a provider of award-winning security tools and services for Crypto AML/CTF, Transaction Risk Management, Regulatory Compliance and Transaction Tracking has announced a partnership with CODE, a South Korean-based virtual asset service provider (VASP) compliance solution. As part of this partnership, CODE has “launched… Read More

April 24, 2023 @ 12:32 pm By Omar Faridi  |  

Kraken has successfully registered its Irish subsidiary, Payward Europe Solutions Limited, with the Central Bank of Ireland (CBI) as a Virtual Asset Service Provider (VASP). The firm claims that Kraken’s Irish VASP registration “demonstrates to both their clients and regulators that Kraken follows Europe’s most… Read More

April 12, 2023 @ 6:16 pm By Omar Faridi  |  

BitMEX, which claims to be one of the world’s most trusted crypto trading platforms for professional and institutional traders, has joined the Travel Rule Universal Solution Technology (TRUST), which is described as an industry-driven Travel Rule compliance solution for global virtual asset service providers (VASPs)…. Read More

December 22, 2022 @ 11:27 pm By Omar Faridi  |  

2022 has been a “meaningful” year for Coinbase’s (NASDAQ:COIN) international expansion, and before they draw it to a close, they want to share some additional updates. Coinbase has been “granted approval by the Central Bank of Ireland to operate as a Virtual Asset Service Provider… Read More

December 13, 2022 @ 12:30 pm By Omar Faridi  |  

Nexo, which claims to be the “leading” regulated institution for digital assets, has announced its registration “with the Ministry of Finance of Poland as a Virtual Assets Service Provider (VASP) in the country.” This development in Poland “builds on the crypto-native FinTech’s longstanding effort to… Read More

August 22, 2022 @ 4:08 pm By JD Alois  |  

The Financial Services Commission of Korea has issued a warning to 16 unregistered “Virtual Asset Service Providers” or VASPs – the term utilized by the FATF for crypto exchanges. According to a statement by the Commission, the Korea Financial Intelligence Unit (KoFIU) has notified 16… Read More

July 20, 2022 @ 7:40 am By Omar Faridi  |  

Digital asset firm Gemini  recently revealed that they’ve become the first company to be registered as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland. Their VASP registration comes on “the heels of [their] Electronic Money Institution (EMI) authorization in February of… Read More

July 4, 2022 @ 10:07 am By JD Alois  |  

FATF (Financial Action Task Force) has issued an update on virtual assets (VAs) and virtual asset service providers (VASPs) and approved standards and implementation. FATF is a global entity but does not have rule-making authority as regulations must be set by members. FATF has pursued… Read More

June 17, 2022 @ 3:23 pm By JD Alois  |  

The Financial Action Task Force (FATF), a global entity that engages financial regulators around the world, met this week to discuss multiple initiatives including the digital asset marketplace and Virtual Asset Service Providers (VASPs) as well as Travel Rule implementation. The Travel Rule is a… Read More

May 25, 2022 @ 10:43 am By Omar Faridi  |  

Bitfrost, the fintech ecosystem that supports financial institutions in their adoption and management of digital assets, announced its successful registration “as a Virtual Assets Service Provider (VASP) with the Gibraltar Financial Services Commission (GFSC).” Now, Bitfrost can “provide clients with access to fiat-to-crypto, crypto-to-fiat and… Read More

February 11, 2022 @ 5:43 pm By JD Alois  |  

In a bit of good news for the crypto mining sector and staking platforms, it is being reported that crypto miners and stakers will not have to report transactions to the US Internal Revenue Service (IRS). The news was posted by Bloomberg who stated it… Read More

February 5, 2022 @ 12:26 pm By JD Alois  |  

Yesterday, the US Department of Treasury issued a statement on illicit activity in the “high-value art market.” More specifically, activities that include money laundering and terrorist financing risks. The study found that while there is some evidence of money laundering risk in the high-value art… Read More

January 12, 2022 @ 3:40 am By Omar Faridi  |  

The team at ComplyAdvantage, an AI-enhanced financial crime detection firm, notes that from regime change in Myanmar and Afghanistan to a “spotlight on environmental crime at COP26 and the explosive Pandora Papers leak, 2021 has been another landmark year for compliance professionals.” ComplyAdvantage writes in… Read More