Blog de Scorechain

Switzerland requires stricter identity verification for certain crypto transactions

FINMA, the financial regulator in Switzerland, published a partially revised Anti-Money Laundering Ordinance on November 2. The authority enacted the revision following the recent amendments of the Anti-Money Laundering Act and the Federal Council’s Anti-Money Laundering Ordinance. FINMA revises AML requirements for crypto assets The Swiss Financial Markets Regulatory Authority

Outcomes of Financial Action Task Force plenary meeting from October 20-21

Last week, on October 20-21, the latest Financial Action Task Force Plenary took place in Paris. It was the first Plenary under the Presidency of T. Raja Kumar and gathered over 200 participants. What is the Financial Action Task Force (FATF)? The Financial Action Task Force (FATF), is a global

AML/CFT requirements for crypto companies in the UK

At the end of September, Revolut, FinTech providing banking and crypto services, successfully registered with the Financial Conduct Authority (FCA). Registering with the FCA is one of the AML requirements for crypto companies in the UK. AML requirements and regulation related to crypto assets in the UK Since January 2020,

State of crypto regulation in Austria

There is currently no specific crypto regulation in Austria. However, the FMA is considering crypto assets under its AML regulations. Crypto compliance in Austria quick guide This quick guide gives you quick insights into the regulation of crypto assets in Austria. Crypto and AML regulation in Austria Austria transposed the

Unhosted wallets and AML compliance

From FinCEN in the US to MiCA in the EU, unhosted wallets and AML compliance have already been at the heart of some regulatory debates in the last few months. What is an unhosted wallet? An unhosted wallet is a crypto wallet that is not hosted on a crypto platform

What is the state of crypto regulation in Lithuania?

What is the current crypto regulation in Lithuania? On June 8th, the Ministry of Finance in Lithuania approved amendments to the country’s AML/CFT Law. The amendments aim to increase the transparency of the crypto-asset sector. The amended provisions include, for example: More stringent KYC processes; A ban on anonymous crypto

France: The AMF updates its VASP doctrine

French version below – Last week, the regulator overviewing crypto-assets in France, the AMF, announced updating its doctrine on virtual asset service providers (VASPs). The regulator updated the doctrine to include evolving products and business models from the industry’s players. The AMF doctrine clarifies registration for staking and lending services

Binance regulated in Italy: what is the state of crypto regulation?

Binance Italy receive approval from the local regulator Last Friday, Binance, the cryptocurrency exchange, announced that it was regulated in Italy. Its Italy branch secured a virtual asset service provider (VASP) registration the Organismo per gli agenti e mediatori (OAM). Registration with the OAM is a requirement set forth by

Latest cryptocurrency regulation updates

The last few weeks have been rich in cryptocurrency regulation updates. Cryptocurrency regulations are rapidly evolving. It is vital for VASPs and companies looking to onboard cryptocurrencies to stay ahead of regulatory updates. Here are the latest key takeaways on regulatory matters. An additional wave of sanctions against Russia Worldwide

Ensuring compliance with sanctions against Russia

After the invasion of Ukraine by Russia, worldwide governments reacted swiftly, imposing various sanctions on the country and on key individuals. As these sanctions are mainly financial sanctions, companies must ensure they have processes in place to avoid facilitating sanction evasion. Sanctions are raining on Russia since the start of