Tech giant IBM has applied for a blockchain patent for the development of transaction data identifiers based on nodes, according to a patent document published by the U.S. Patent and Trademarks Office (USPTO) Aug. 16. The system described in the patent, entitled “Node Characterization in Blockchain,” intends to introduce a...
A major new report from the U.S. Treasury Department published July 31 has called for a more agile and conducive regulatory approach to innovations in the fintech sector. The 222-page report, devoted to ‘Nonbank Financials, Fintech, and Innovation,’ only fleetingly touches upon cryptocurrencies and distributed ledger technologies (DLT) such as...
Major U.S. cryptocurrency wallet and exchange Coinbase announced in a July 31 blog post that ex-Pershing exec Jeff Horowitz will join the company as its Chief Compliance Officer. Horowitz previously worked as the managing director and global head of compliance at Pershing LLC — a BNY Mellon Company — as...
UK-based service TransferGo has reportedly become the world’s first remittance operator to offer crypto trading, Bloomberg reported July 27. TransferGo now lets customers buy and sell five major cryptocurrencies –– Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC). According to TransferGo CEO and founder Daumantas Dvilinskas, the...
South Korean watchdog the Financial Services Commission (FSC) has urged lawmakers to hasten their approval of the country’s first cryptocurrency bill, Bloomberg reports July 26.    Hong Seong-ki, head of the FSC’s virtual currency response team, has reportedly warned of the security and money laundering risks courted by the country’s...
Japan has overhauled its financial regulator, the Financial Services Agency (FSA), in order to better deal with fintech-related fields, including cryptocurrencies, news outlet Nikkei Asian Review reported July 17. Changes were made to various bureaus in order to make the organization more suited to address new problems and challenges...
The EU Fifth Anti-Money Laundering Directive came into force yesterday, July 9, Cointelegraph auf Deutsch reports July 10. Measures within the directive will set a new legal framework for European financial watchdogs to regulate digital currencies in order to protect against money laundering and terrorist financing. As the EU Commission...
Major global auditing and consulting firm KPMG has published a study focused on financial crime in Switzerland, with a section on cryptocurrency’s role, Cointelegraph auf Deutsch reported June 28. KPMG devotes a section of their study to the role of cryptocurrency in money laundering and financial crime, illustrating methods used...
South Korea’s top financial regulator has released a set of revised anti-money laundering (AML) guidelines for virtual currencies, according to a press release published this week. The press release notes that the Financial Services Commission (FSC) conducted on-site inspections of three domestic banks - Nonghyup, Kookmin, and Hana Bank -...
This interview has been edited and condensed. Cointelegraph had the opportunity to speak to ConsenSys’ Ajit Tripathi at BlockShow Europe 2018 about his experience leaving Wall Street for the crypto world, what new ConsenSys projects he’s most excited about, and why crypto regulation changes from country to country. Molly Jane: Could...