Category: Compliance
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Coinbase Institutional Market Intelligence: Stablecoins and the New Payment Landscape 💳🌐
Stablecoins settled $10.8T worth of transactions in 2023, of which $2.3T were related to organic activities including payments and cross-border remittances 🌍💸, among others. We believe stablecoins could be a vital use case for the real economy, leading to further disruption among incumbents in the payments space. Today’s payment giants suffer from major disadvantages, including… Read more
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[MAS] Money Laundering Risk Assessment Report Singapore 2024
![[MAS] Money Laundering Risk Assessment Report Singapore 2024](https://web3accountant.online/wp-content/uploads/2024/08/mas_logo_corporate-branding_square_01.jpg)
Singapore is committed to working closely with international and domestic stakeholders to prevent, detect, and enforce against ML. As an international business, financial and trading centre, Singapore must remain vigilant to the fast-evolving ML threat landscape and criminal methods and ensure that our AML regime and defences keep pace with these changes. Singapore is therefore… Read more
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[XREX] Virtual Currency Guild Officially Established, 24 Members Join, with Drafting of Self-Regulatory Code as Top Priority
![[XREX] Virtual Currency Guild Officially Established, 24 Members Join, with Drafting of Self-Regulatory Code as Top Priority](https://web3accountant.online/wp-content/uploads/2024/08/下载-1-2.png)
https://xrex.io/zh/the-vasp-association-is-officially-established-zh Read more
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[MAS] Exciting News in the Web3 Space
The following 49 entities have been exempted from holding a license under the 2019 Payment Services Act (PS Act) to provide digital payment token services. The participants include a variety of entities: Congratulations to all the participating entities! This milestone highlights Singapore’s growing interest as a Web3 hub and will promote job opportunities in the… Read more
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[Request Finance] The Ultimate Web3 CFO guide
![[Request Finance] The Ultimate Web3 CFO guide](https://web3accountant.online/wp-content/uploads/2024/08/下载-9.png)
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[MAS] The Monetary Authority of Singapore imposed a fine of 2.5 million SGD
The Monetary Authority of Singapore (MAS) imposed a combined fine of 2.5 million SGD on Swiss Asia Financial Services Pte Ltd for violations of anti-money laundering and counter-terrorism financing regulations and issued warnings to its CEO and COO. During the MAS inspection, violations included: Read more
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[MAS] GUIDELINES ON LICENSING FOR PAYMENT SERVICE PROVIDERS
🚀 MAS new requirement for legal opinion and compliance / IT auditor assessment inputs to be provided during PSA license application. 3 cheers!!! More collaborations between industry players and professional services firms To ensure greater clarity, better facilitate application reviews and enhance efficiency of the licensing process, the Monetary Authority of Singapore (“MAS”) will be… Read more
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[FSB] 🌍 Cross-border Regulatory and Supervisory Issues of Global Stablecoin Arrangements in Emerging Markets and Developing Economies! 💹
![[FSB] 🌍 Cross-border Regulatory and Supervisory Issues of Global Stablecoin Arrangements in Emerging Markets and Developing Economies! 💹](https://web3accountant.online/wp-content/uploads/2024/08/下载-12.png)
Global stablecoins (GSCs), which are stablecoins that could be widely used as a means of payment and/or store of value across multiple jurisdictions, could pose significant risks to financial stability. The collapse and de-peg of certain stablecoins since the outbreak of the crypto-asset market turmoil in 2022 highlights the potential fragility of stablecoins that are… Read more
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U.S. Department of the Treasury: 2024 National Strategy for Combating Terrorist and Other Illicit Financing
Outreach to the industry to ensure that VASPs engaged in money transmission and business activities in the United States are registered and comply with all AML/CFT requirements and sanctions obligations. Hold financial institutions accountable that fail to meet AML/CFT requirements and sanctions obligations. Cooperate with foreign jurisdictions that have weak or non-existent AML/CFT regimes for… Read more
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[Kaiko] A practical guide to understanding MiCA
![[Kaiko] A practical guide to understanding MiCA](https://web3accountant.online/wp-content/uploads/2024/08/下载-81.jpg)
Preparation for MiCA: Data will be at the heart of your preparation for MiCA. We created this guide to help you understand the upcoming requirements and adapt your data strategy. We will outline MiCA’s scope, requirements, and challenges and at the end provide several case studies showing how Crypto Asset Service Providers (CASPs) and regulators… Read more