On 27 July 2020, the Joint Money Laundering Steering Group (JMLSG), which comprises UK financial services industry trade bodies, published new sectoral guidance for cryptoasset exchange providers and custodian wallet providers regarding compliance with money laundering obligations. The Guidance provides an outline of the money laundering risks posed by cryptoassets and how cryptoasset firms can mitigate such risks. Money-Laundering Risks of Cryptoassets A 2020 study by the UK’s National Crime Agency reported that UK based…
Latest Posts
- UK’s JMLSG publishes new Anti-Money Laundering Guidance for Cryptoasset Exchanges and Custodian Wallet Providers
- UK Treasury Launches Consultation on the Financial Promotion of Cryptoassets
- Federally Chartered Banks Approved to Provide Custody of Cryptocurrency
- U.S. Federal Court Rules That Bitcoin is “Money”
- “Superman 29” To Plead Guilty To Laundering Millions of Dollars’ Worth of Bitcoin
- FCA Research Reveals Dramatic Spike in UK Cryptoasset Market
- Coinbase Contracts with IRS to Provide Crypto Tracing
- IRS Sued For Allegedly Illegal Seizure of Information From Coinbase
Recent
On July 20, 2020, the UK’s HM Treasury (HMT) published a consultation paper proposing to bring the promotion of certain…
On July 22, 2020, the Office of the Comptroller of the Currency (“OCC”) issued an interpretive letter confirming…
In December 2019, a federal grand jury in the District of Columbia indicted Larry Dean Harmon for conspiracy…
On July 22, 2020, the U.S. Department of Justice announced that Kais Mohammad, a.k.a. “Superman29,” agreed to plead…
FCA Research Reveals Dramatic Spike in UK Cryptoasset Market
by Sue McLean and Ben Thatcher 3 Mins ReadOn 30 June 2020, the Financial Conduct Authority (the “FCA”) published a research report into the market size,…
Just yesterday, we reported on a lawsuit brought against the U.S. Internal Revenue Service for allegedly obtaining information…