recentlyrecently, the Canadian government published draft new regulations on “cryptocurrency transactions and payment processing.” The draft aims to addressFinancial Action Task Force
(Financial Action Task Force, FATF) has raised the shortcomings of existing regulations, and proposed to strengthen Canada's anti-money laundering and anti-terrorist financing system (AML/ATF).
The new regulations include cryptocurrency exchanges and transaction processors in the scope of "Money of Service business" (Money of Service business), requiring them to disclose large transaction records exceeding 10,000 Canadian dollars (about 7,700 U.S. dollars) Set a new Know Your Customer (KYC) framework for customers over CAD 1,000 (~US$770).In addition, the draft includes a cost-benefit analysis of the regulation. The analysis predicts
, In the next 10 years, the implementation of this regulation will cost about 6.1 billion Canadian dollars, or 47 million U.S. dollars.
FATF is an intergovernmental organization responsible for formulating anti-money laundering policies. Historically, the policies it formulates are often not legally binding, but for this draft, the Canadian authorities believe that implementing these regulations will have a negative impact on the country's international Reputation has a positive impact.
Like Canada, Australia is taking similar moves to bring cryptocurrency providers under regulation.
Following a lengthy money-laundering lawsuit by the Commonwealth Bank of Australia (CBA), in April this year, the Australian government required all cryptocurrency providers “to collect customer information, identify customers, monitor transaction behavior and report suspicious transaction activity, such as transaction amounts exceeding 10,000 Australian dollars (7,755 US dollars) of trading activities, etc. However, the scope of application of this control has not yet been clearly defined, and the effect of control is still on the sidelines.CatallaxyBlockchain Consulting Company
Co-founder Francis Pouliot once raised objections to the Canadian draft. He believes:
The draft requirement to provide detailed flow reports for large virtual currency transaction records exceeding 10,000 Canadian dollars is very difficult to implement and (government) intervention is excessive.
Not only Canada and Australia, but Japan, South Korea and other countries are also exploring how to effectively control cryptocurrency money laundering. The specific actions are mainly to prohibit some digital currency transactions and improve anti-money laundering regulations.after going throughthe beginning of the year
After the large-scale hacking attack of the Japanese cryptocurrency exchange Coincheck, in March, the Japanese cryptocurrency exchange Coincheck suspended Monero, Zcash, and Dash three cryptocurrency transactions, hoping to combat cryptocurrency money laundering.Bithumb, a South Korean virtual currency exchange, amended the anti-money laundering regulations to no longer accept NCCT users as new members, and its existing accounts will also be closed on June 21, in order to prevent virtual currency from being used for international terrorism or crime. funds. In addition, the identity verification procedures and residence verification procedures for cryptocurrency users will be improved.
also,also,CitigroupIn April this year, Citigroup posted recruitment information on LinkedIn, recruiting professional risk management and control talents for cryptocurrencies and digital payments. It is clearly required in the job requirements to have the ability to "identify, analyze, and implement products and methods related to network security, cryptocurrency, and emerging payment technologies".
recently, Tencent released a financial risk inquiry and reporting applet, exposing a variety of false digital currencies such as Pu'er coins and Wuxing coins. To a certain extent, this reporting applet has played a role in exposing digital currency money laundering and purifying the digital currency environment.
I am Zhang Yi, a reporter from Odaily. I am exploring the real blockchain. For breaking news and communicating, please add WeChat ro20110723. Please note your name, unit, position and reason.
