Earlier this month, Coinnections announced the launch of a beta of its AML and KYC compliance software for Bitcoin MSBs, including cryptocurrency exchanges, Bitcoin ATMs and brokers. The powerful product is a complete suite of AML transaction monitoring, case management, due diligence, electronic SAR/CTR filing,...
Recently, BitAML Founder & CEO, Joe Ciccolo, sat down with Cointelegraph to discuss bitcoin regulation, the future of cryptocurrencies, and even legacy banking. "In the crypto-economic sphere, few groups are so crucial yet so scorned as those representing the regulatory body. Tragically, despite the well understood...
This week, the U.S. Department of Justice (DOJ) announced the hiring of Hui Chen as a “full-time compliance expert”. In this role, Ms. Chen will be tasked with assessing the compliance programs of companies under DOJ investigation. This information will aid prosecutors weighing criminal charges...
Last week, the Commonwealth of Nations, an intergovernmental association of 53 independent and equal sovereign states, discussed digital currency as one possible solution to the recent uptick in “de-risking”. Members expressed concern that de-risking was spreading to more and more countries, and might otherwise be...
This, the second edition of SAR Stats, is FinCEN’s annual review of aggregated Suspicious Activity Report (SAR) filings. The 44-page PDF report contained statistical and qualitative analysis of SAR filings, including emerging trends; highlights from within each sector (e.g. MSB, Securities & Futures); and, SAR...
Last week, BitAML Founder & President, Joe Ciccolo, attended Digital Economy Conference 2015 in Omaha, Nebraska. The event featured national and regional speakers sharing their unique insights. Wide-ranging topics included selling into financial institutions, the current regulatory and political landscape, and consumer adoption. Speakers included...
This weekend, the Uniform Law Commission (ULC), a nonprofit dedicated to creating consistency among U.S. state laws, will convene in Washington D.C. to discuss model legislation ("Regulation of Virtual Currencies Act") for the regulatory oversight of bitcoin entities. The most recent draft of the ULC’s...
Much has been written lately about the rapid growth of bitcoin in the Ukraine. Economists and digital currency enthusiasts alike point to a myriad of interconnected factors, including capital controls, hyperinflation of the Hryvnia, and the crisis in Crimea. Last year, as you may...
Earlier this week, the Isle of Man received a great deal of mainstream press, deservedly so, for its innovation-friendly climate and straightforward bitcoin regulation. The Manx government has successfully turned this quirky island off the coast of the U.K. into one the world’s foremost technology...
AB-1326, “Virtual Currency”, was unexpectedly shelved earlier this week despite multiple unanimous or near-unanimous votes in the California Assembly and Senate. The bill, which would have governed how digital currency businesses can operate in California, was lauded by many in the industry as a favorable...
