Transparency

Slow But Steady: FATF Review Highlights Crypto Exchanges’ Struggle to Meet AML Standards

Source Node: https://cointelegraph.com/news/slow-but-steady-fatf-review-highlights-crypto-exchanges-struggle-to-meet-aml-standards
Time Stamp: August 8, 2020 9:00 AM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

In June 2019, the intergovernmental Financial Action Task Force (FATF) introduced its revised set of standards for virtual asset service providers. The document establishes the anti-money laundering and counter-terrorism (AML/CFT) requirements that regulated VASPs —  the term mainly referring to cryptocurrency trading platforms — must eventually implement in their day-to-day operations. The guidelines are framed as recommendations, and the FATF leaves it to the participating nations’ governments to develop their own regulations in accordance with suggested principles.The watchdog has also set a 12-month review timeframe to monitor the public and

TikTok Ban: The Beginning of a New Age in Social Networks?

Source Node: https://beincrypto.com/tiktok-ban-the-beginning-of-a-new-age-in-social-networks/
Time Stamp: August 8, 2020 8:28 AM - Modified On: May 21, 2021 - Published By:
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President Donald Trump has signed an executive order that forbids American companies to transact with Tencent and Bytedance. The ban comes after a long debate involving alleged data mining from apps like WeChat and TikTok. Following the ban, Tencent shares fell 5%. American companies will effectively have 45 days to stop transacting with these companies. The ban is sparking worldwide debate regarding the boundaries of national security. Is this an opportunity for decentralized social media platforms to step up? Tencent and the Yuan Plummet The announcement was immediately felt on

Fear, Greed and the Evolution of Money in the Age of the Coronavirus Pandemic

Source Node: https://cointelegraph.com/news/fear-greed-and-the-evolution-of-money-in-the-age-of-the-coronavirus-pandemic
Time Stamp: April 9, 2020 4:24 AM - Modified On: May 21, 2021 - Published By:
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The COVID-19 pandemic is not going to end soon. Fear and anxiety have skyrocketed, and nearly half of the people in the United States feel the coronavirus has harmed their mental health. People are scared, anxious, depressed, on edge and struggling to sleep through the night.We watched as China took extreme measures to improve the coronavirus crisis there. We watched as Italy locked down the country and people scurried to other parts of Europe. We then watched as California Governor Gavin Newsom took early measures for the U.S. and locked

Cardano Partners With South African Blockchain Alliance To Boost Adoption

Source Node: https://cointelegraph.com/news/cardano-partners-with-south-african-blockchain-alliance-to-boost-adoption
Time Stamp: April 8, 2020 7:06 PM - Modified On: May 21, 2021 - Published By:
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The Cardano Foundation announced a partnership with the South African National Blockchain Alliance (SANBA) on April 7. The partnership endeavors to explore further ways to strengthen technology’s adoption throughout South Africa.According to the official announcement, Cardano will use blockchain technology to boost socio-economic growth in South Africa. The Foundation believes such a partnership will help them to achieve their goal of increasing blockchain adoption across the region.South Africa as the key market for African blockchain awarenessCardano cites the South Africa market as pivotal to building a network across the country

Exclusive: US Congressional Watchdog on Prototyping Smart Contracts

Source Node: https://cointelegraph.com/news/exclusive-us-congressional-watchdog-on-prototyping-smart-contracts
Time Stamp: April 8, 2020 2:42 PM - Modified On: May 21, 2021 - Published By:
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The supreme audit institution of the United States, the Government Accountability Office (GAO), posted two job positions with its Innovation Lab concerning the development of prototype applications for blockchain technology during March.Cointelegraph spoke to Chuck Young, the managing director of public affairs at GAO, to find out more about the agency’s interest in distributed ledger technologies, or DLT.GAO to refine auditing processes for blockchainYoung stated that GAO's primary application for blockchain will be as “a digital financial ledger” — indicating that the chief auditor is planning to use blockchain to

Bitcoin Supports Italian Red Cross as Coronavirus Fight Continues

Source Node: https://insidebitcoins.com/news/bitcoin-supports-italian-red-cross-as-coronavirus-fight-continues/256831
Time Stamp: April 8, 2020 6:14 AM - Modified On: May 21, 2021 - Published By:
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The coronavirus pandemic has spread across the world, with over a million confirmed cases already clocked worldwide. However, Italy has been one of the countries hit the hardest by the coronavirus pandemic, and its healthcare system has had some significant luck with using crypto to combat it.AMPs for Medical ReliefEarlier this week, the Italian Red Cross Society announced that it had erected an Advanced Medical Post (AMP) for pre-triage in Castel Gandolfo, a town close to the capital. It set up the AMP in collaboration with the Colli Albani Committee, and

Crypto Payment Network Partners With ID Screening Service

Source Node: https://cointelegraph.com/news/crypto-payment-network-partners-with-id-screening-service
Time Stamp: April 7, 2020 12:47 PM - Modified On: May 21, 2021 - Published By:
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Cryptocurrency network TemTum is partnering with identity verification service Shufti Pro to provide Anti-Money Laundering (AML) and Know Your Customer (KYC) screening services for its customers.As part of the partnership announced on April 7, Shufti Pro will verify TemTum clients'  KYC data including date of birth, addresses, names, document numbers, document issue dates and expiration dates.EU’s 5th Anti-Money Laundering Initiative ComplianceThe partnership follows the adoption of the European Union's Fifth Anti-Money Laundering Initiative (5AMLD), which introduces new and, in some cases, tightened KYC measures on financial platforms — including cryptocurrency

Streamr to Offer Binance’s Real-Time Trade Feeds on Marketplace

Source Node: https://cointelegraph.com/news/streamr-to-offer-binances-real-time-trade-feeds-on-marketplace
Time Stamp: April 7, 2020 8:47 AM - Modified On: May 21, 2021 - Published By:
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Open-source blockchain infrastructure Streamr announced on April 7 a new integration with cryptocurrency exchange Binance, in which Streamr will offer the exchange's real-time trade feeds on its marketplace.From now on, Binance’s real-time trades and quotes data for all asset pairs will be available on Streamr, with the aim of targeting algorithmic traders.According to Streamr, traders will now be able to obtain sentiment data and data from other markets via a single technical integration.Motivations behind the partnershipSpeaking with Cointelegraph, Henri Pihkala, co-founder and CEO of Streamr, said that with crypto exchanges serving

World Economic Forum Turns to Blockchain to Aid Global Supply Chain

Source Node: https://insidebitcoins.com/news/world-economic-forum-turns-to-blockchain-to-aid-global-supply-chain/256745
Time Stamp: April 7, 2020 5:46 AM - Modified On: May 21, 2021 - Published By:
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On Monday, the World Economic Forum, or WEF, gave a statement that blockchain technology and digitization has the capacity to support the world’s supply lines and help it survive the COVID-19 crisis.Liao and Fan: Transparency Is KeyRebecca Liao, the Executive Vice President of the Skychain blockchain enterprise firm, and Ziyang Fan, the Head of Digital Trade at the WEF, co-wrote a blog post. This blog post stated that the COVID-19 pandemic has come to force a large number of companies to battle an unexpectedly delicate supply chain. Even so-called “Solid”