Binance Throws Weight Behind Shyft Network in ‘Travel Rule’ Standards Race

Binance, the world’s largest crypto exchange group, has chosen the Shyft Network to help address a looming regulatory requirement that firms must share users’ personal data when handling digital asset transactions. Barbados-based Shyft Network is one of an array of potential solutions to the Financial Action Task Force’s (FATF) “Travel Rule.” The name comes from […]

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Hong Kong to Consider Additional FATF-Style Regulations for Crypto Exchanges

Hong Kong may soon bolster its policing of the cryptocurrency sector to better conform with international anti-money-laundering norms, Financial Secretary Paul Chan said in his annual budget speech Wednesday. Promising that “detailed proposals” will come later this year, Chan said new regulations could target virtual asset service providers, or VASPs, the catchall term used by […]

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SEC Rejects Latest Bitcoin ETF Bid

The U.S. Securities and Exchange Commission (SEC) rejected Wilshire Phoenix’s bid for a bitcoin-based exchange-traded fund (ETF). In a filing posted Wednesday, the securities regulator wrote that the New York-based Wilshire Phoenix had not proven the bitcoin market is sufficiently resistant to market manipulation. Wilshire, a newcomer to the financial services industry, first applied for […]

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