Circle Gets Stablecoin Approval Under EU Crypto Regulations https://lnkd.in/eK9pTK69
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🇹🇷 Türkiye introduces a new legislative proposal to regulate crypto asset transactions! This move aims to align with international standards and enhance the safety of the crypto ecosystem. 🌍 Read more in Bitfinex Alpha: https://lnkd.in/dQ7kNXTf
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Élève-avocat Regulatory | Crypto-actifs et nouvelles technologies Law intern | Crypto-assets and ICT
Une petite bataille gagnée pour les cryptos aux US dans l'affaire SEC C/ Binance? Dans un memorandum opinion du 28 juin dernier dans l'affaire opposant Binance à la SEC, un juge rejette l'accusation du régulateur: sur le fait que les ventes de BNB sur le marché secondaire s'apparenteraient à des offres de securities (instrument financiers), mais accepte pour le moment cette accusation concernant l'ICO. Bien que le juge énonce que ce memorandum n'a pas pour but de résoudre cette fameuse question de la qualification des cryptos en securities ou non, le raisonnement adopté semble reprendre celui dans l'affaire opposant le même régulateur à Ripple, les juges ayant eu la même conclusion. Il semble donc se dessiner une constante: une ICO peut plus probablement remplir le "Howey Test", servant à démontrer qu'un actif correspond à un "Investment Contract", un type de security, mais qu'une crypto en tant que telle simplement parce qu'elle est vendue sur le marché secondaire, n'est pour l'instant pas une security, faute pour la SEC d'avoir démontré sa correspondance avec le Howey test. En ce sens, elle ne serait pas logiquement régulée par le régulateur en question. Dans le cas de l'ICO c'est bien l'opération enveloppant les actifs qui détermine sa qualification d'Investment Contract, et pas la crypto en tant que telle. C'est une petite victoire pour Binance et le marché crypto (on pense notamment aux autres procès en cours, de même nature, des acteurs cryptos US contre la SEC comme Coinbase). A noter que les accusations contre l'offre de Simple Earn ont aussi été rejetées. Toutefois rien n'est gagné pour Binance car dans ce memorandum, c'est un des rares points en faveur de binance, le juge souhaite continuer la procédure (donc reconnaît pour le moment valides les accusations de la SEC) sur l'ICO, BNB vault, le staking, le fait que binance ne se soit pas enregistré comme exchange comme l'impose l' Exchange Act et d'autres. Affaire à suivre donc. Lien du Memorandum: https://lnkd.in/e-atQhmu #regulation #crypto #sec
In Cahill’s most recent alert, partners Samson Enzer, Lewis Cohen, Gregory Strong, and Sarah Chen analyze U.S. District Judge Amy Berman Jackson’s recent decision in SEC v. Binance casting doubt on the SEC’s authority to regulate secondary crypto spot market exchanges and transactions. Click here to learn more: https://bit.ly/3L8jWh7 #cryptocurrency #SEC
SEC v. Binance: The Dis-Embodiment of Howey? | Cahill Gordon & Reindel LLP
cahill.com
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From July 1st Circle can issue USDC & EURC to European customers, which means that Circle will become the first global stablecoin issuer under new EU stablecoin laws with MiCA compliance. I guess seeing crypto rail adoption in the normie trad world is positive, should be celebrated, while at the same time being aware that this is totally centralised. Circle can freeze your USDC/EURC in any address, at any time, for any reason.
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🚨 J'ai le plaisir de vous annoncer que je serai présent au Private Wealth Forum, organisé par Markets Group à Amsterdam, ce Jeudi 26 septembre. N'hésitez pas à me contacter afin d'échanger plus en détails sur les ETPs Crypto !
CoinShares is excited to be sponsoring the upcoming Markets Group 6th Annual Private Wealth Benelux Forum in Amsterdam on 26 September. James Butterfill, our Head of Research, will be speaking on a panel discussing the topic “Macro-Outlook & Asset Allocation: The Next 12 Months at a Glance” This will be followed by a roundtable- "Diversification in 2024: The Bitcoin Advantage" where we discuss why the traditional 60/40 model is obsolete and demonstrate how Bitcoin could continue to diversify and improve risk-adjusted returns. Come meet us there and reach out to Markets Group to get involved. For more information on the event, please visit: https://lnkd.in/dsW8VWUk #MarketsGroup
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We have issued new digital assets ISINs, including a number of new security token ISINs, with corresponding DTIs. The Republic of Slovenia is the first sovereign issuer in the EU to issue digital bonds. Asian Infrastructure Bank Investment Bank is a continuation of Euroclear’s push in digital bond issuances. EURI is the Banking Circle stablecoin that purports to be the first MICAR compliant stablecoin. Check out the most recent ISINs for crypto assets here: https://lnkd.in/diM7hAaD
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La Suisse va de plus en plus devenir un désert de l’innovation financière. Le régulateur financier, qui ne s’appuie sur aucune base légale, reduit de plus en plus rapidement les perspectives concernant les crypto-devises et la finance décentralisée. #Suisse #obsolescence #stablecoins
💥 The Swiss Crypto Valley recently suffered a significant blow after the Swiss regulator published its newest guidance on stablecoins – here is why: 🔍 What happened? According to the new guidance from FINMA, issuers of stablecoins in principle need a banking license and must KYC every stablecoin holder. These rules are super restrictive, even compared to EU countries, and there won't be a major Swiss stablecoin in the future. ✅ But protecting the integrity of the financial market is good… Yes, but this policy is overreaching: - Requiring a banking license doesn't make sense if assets are fully held. - To KYC every holder is discriminatory: this isn't required for cash or Bitcoin. 🇨🇭 What are the consequences for Switzerland? CHF-stablecoins will be issued abroad, out of the regulator's scope. Switzerland will lose monetary sovereignty. 🌐 What are the consequences for the crypto-industry? None directly, as there are plenty of alternatives available. However, if other countries follow suit, this will be catastrophic for DeFi, which by law will need to be centralized. The broader picture These rules are an overkill and need to be changed. Personally, I am missing the constitutional perspective in this discussion, such as the principle of proportionality (Art. 5 BV), or right to privacy (Art. 13 BV). Let me know in the comments your thoughts: is this guidance just, or a complete overkill?
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Journaliste économique, Master en Sécurité internationale, relations internationales et Stratégie, Chargé de communication au Cabinet du ministre des Finances et du Budget, Gestion de projets et programmes humanitaires..
Très instructif, apprenons ensemble !
Board Advisor and Trainer in Anti-Financial Crime & AML | Educating and Inspiring Compliance Teams | Independent Advisor | Founder of AML Cube | 40k+ followers
How to determine the source of funds in crypto In every anti-money laundering (AML) regulation, obliged entities are required to determine the source of funds or source of wealth in specific situations and always in the case of high-risk customers. Things are even more challenging when we are talking about determining the source of funds or wealth in crypto. Why? Because blockchain is public ledger with pseudonymous addresses. Tracing the source of funds is more challenging than in traditional banking. Here are some best practices on how to determine the source of funds in crypto: ✅ Financial/Bank Statements: Funds to be used for crypto purchase often originate from traditional financial institutions (FI) and go to centralized exchanges. If this is what the customer says, you will be able to see the transaction in any financial/bank statement. Cash purchases pose a greater challenge. In such cases, review cash withdrawal details on the statement. ✅ Service Provider Documentation: Service providers like cryptocurrency exchanges and P2P platforms act as intermediaries. They keep detailed records of transactions, including the source of the funds deposited by their customers. Such records can provide an explanation for the source of funds. ✅ Mining Activity: Customers involved in mining pools can provide payout history for the establishment of the source of funds. For solo miners, request equipment purchase receipts and utility bills reflecting high electricity consumption. This can often justify the customer's claim that the funds are proceeds of mining. ✅ Employment Contracts: Some professionals receive crypto payments for consulting or marketing services. Employment agreements typically outline payment details. Such contracts or proof of payments may be sufficient in some cases. What other methods do you use to establish the source of funds in crypto? #crypto #aml
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🇿🇦 Join Chainalysis for a day of crypto assets discussions, case studies, and networking in Johannesburg, on Sept. 13. 🇿🇦 The event will cover essential topics, including: 🔹 The Evolving Landscape of Crypto Regulation and Policy 🔹 Banking in the Crypto Economy: Opportunities and Challenges 🔹 The Future of Stablecoins: A Chainalysis and Tether Case Study 🔹 Global Crypto Licensing Playbooks: Case Studies and Insights 🔹 Building a Robust Crypto Compliance Framework 👉 https://lnkd.in/gcdW25ji
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#NOUVELLES❗ : Le 29 mai 2024, le J5 a envoyé un avis aux institutions financières au sujet des indicateurs de risque liés aux #cryptoactifs. Nous aimerions attirer votre attention sur les indicateurs de risque liés aux cryptoactifs qui peuvent révélés des plans de blanchiment d’argent, de cybercriminalité et d’évasion fiscale, et d’autres activités illicites. Pour détecter des signes de blanchiment d’argent et d’évasion fiscale, il faut collecter, analyser et déclarer les données financières. En diffusant les indicateurs de risque aux institutions financières, des organismes d’application de la loi peuvent transmettre des renseignements précieux au secteur financier et aux organismes d’établissement de rapports. Cet échange améliore la capacité des entités déclarantes à détecter et à signaler les activités suspectes nécessaires pour perturber les flux financiers illicites. Bien que les indicateurs de risque puissent varier et qu’ils ne soient pas tous abordés, on observe couramment les détails du présent avis. Apprenez-en plus [en anglais seulement] ➡ https://lnkd.in/gib7EUsb #FraudeFiscaleJ5 #BlanchimentDArgent #Cybercriminalité #ÉvasionFiscale #SignauxDAlarme #UnitésDuRenseignementFinancier
#NEWS❗: Today, the J5 issued a notice to financial institutions about risk indicators tied to #cryptocurrency assets. We'd like to bring attention to crypto assets risk indicators that may be indicative of money laundering, cybercrime, tax evasion, and other illicit activities. Detecting signs of money laundering and tax evasion requires the gathering, analysis and reporting of financial data. By disseminating the risk indicators to the financial institutions, valuable insights from law enforcement can be relayed to the financial sector and reporting agencies. This exchange enhances the abilities of reporting entities to detect and report suspicious activity necessary to disrupt illicit financial flows. While risk indicators may vary and not all are covered, the details in the advisory note are commonly observed. Read more here➡https://lnkd.in/gib7EUsb #J5taxcrime #moneylaundering #cybercrimes #taxevasions #redflags #FIUs
J5 issues notice to financial institutions about risk indicators tied to cryptocurrency assets
irs.gov
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The UK government has unveiled its rules for crypto asset and stablecoin regulation, marking a significant step in aligning digital currencies with traditional finance. The regulation will roll out in phases, starting with fiat-backed stablecoins and expanding to cover other crypto aspects, including algorithmic stablecoins. This approach provides a structured, gradual regulatory framework for the evolving crypto space. The announcement follows earlier consultations and is set for implementation in 2024, allowing the industry time to prepare. #unitedkingdom
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