The Australian Transation Reports and Analysis Centre ( AUSTRAC ) has commenced its education efforts in the run-up to implementation of Australia's enhanced virtual asset service provider ( VASP ) regime which is currently scheduled to enter into force from 31 March next year. The guidance follows: Substantial amendments to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 ( AML/CTF Act ) passed last year which include a number of new designated services for

In a move to strengthen Australia’s money laundering defences, Minister for Home Affairs Tony Burke has announced proposed legislative amendments  that would grant the CEO of the Australian Transaction Reports and Analysis Centre ( AUSTRAC ), Brendan Thomas, new powers to restrict or prohibit high-risk financial products, services, and delivery channels. The legislation would also include provisions for banks to access visa status information  to help identify mule accounts.

The UK Financial Conduct Authority ( FCA ) has released a huge consultation paper CP25/28 titled 'Progressing Fund Tokenisation' which outlines new rules for fund tokenisation and direct-to-fund dealing. The paper expands on the 2023 Blueprint published by the Investment Association's Technology Working Group, which introduced a phased roadmap for fund tokenisation. The FCA has clearly put a huge amount of work into this document, which defines tokenisation as a method of re

The Trump Administration has been unashamedly pro-crypto, seeking to craft innovation supporting rules and changing the leadership at the previously anti-crypto Securities & Exchange Commission. This approach has dialed up further with news that Binance founder Changpeng “CZ” Zhao has been pardoned today for his conviction in connection with a prosecution of Binance for breaching sanctions and anti-money laundering laws. After the Department of Justice commenced that prosecut

In an update to a temporary moratorium in place since 2022, and cutting against the global thaw on crypto engagement and policy of the USA to promote more cryptocurrency business, British Columbia has announced a permanent ban on new cryptocurrency mining projects from accessing the provincial electricity grid. This decision is said to arise from concerns over the environmental effects of cryptocurrency mining and its hefty electricity demands, but this is curious given the