Sentences with phrase «currency intermediaries in»

The Monetary Authority of Singapore (MAS) will regulate virtual currency intermediaries in a move to combat risks from terrorism - related financing and money - laundering.

Not exact matches

«From the date of release of this Notice, any so - called platform that provide trading and exchange services for coin offering shall not engage in exchange businesses between legal tender and token or «virtual currency»; or engage in proprietary trading activities or trading as an central counterparty of tokens or «virtual currencies»; or provide pricing services or act as information intermediary for tokens or «virtual currencies.»»

With xRapid and XRP, financial institutions can eliminate the need for costly intermediaries or pre-funded Nostro accounts in destination currencies.

A digital currency not backed by any national bank as of yet, bitcoin attempts to remove all intermediaries in transactions.

Services like iPayYou and other intermediary platforms connect your digital currency to real - world accounts, and if these accounts are compromised in any way — hacked via phishing, a stolen or lost a device, etc. — then your digital currency is exposed and vulnerable.

However, a shift by financial intermediaries towards borrowing in euros and UK pounds, as they seek to diversify their funding sources, saw those currencies» share of offshore foreign currency issuance increase sharply to almost 30 per cent.

For international wire transfers received in a foreign currency, the currency exchange rate is determined by our designated intermediary bank and will impact the amount received by Discover.

Assuming your relatives do not gift you the currency, they will have to exchange PLN you send them back to USD or EUR which would in turn involve a financial intermediary.

In such cases, instead of Loan funds being forwarded directly to the corresponding Field Partner, Kiva may, for example, have to transact with other intermediaries (such as the Field Partner's U.S. - based affiliates or other third parties licensed in the particular country to transact in foreign currencies) to structure a different indirect funding process that enables a Borrower to ultimately be supported by a Partner Loan from yoIn such cases, instead of Loan funds being forwarded directly to the corresponding Field Partner, Kiva may, for example, have to transact with other intermediaries (such as the Field Partner's U.S. - based affiliates or other third parties licensed in the particular country to transact in foreign currencies) to structure a different indirect funding process that enables a Borrower to ultimately be supported by a Partner Loan from yoin the particular country to transact in foreign currencies) to structure a different indirect funding process that enables a Borrower to ultimately be supported by a Partner Loan from yoin foreign currencies) to structure a different indirect funding process that enables a Borrower to ultimately be supported by a Partner Loan from you.

Ripple mainly acts as an intermediary between the two respective fiat currencies in an international transaction.

Lawsky first clarified which players in the digital currency community and industry would be required to obtain the BitLicense, specifying that the NYDFS intends to regulate only financial intermediaries.

MAS» stated in 2014 that while virtual currencies per se were not regulated, intermediaries in virtual currencies would be regulated for ML / TF risks.

MAS» media release of 13 March 2014 had communicated that while virtual currencies per se were not regulated, intermediaries in virtual currencies would be regulated for ML / TF risks.

The intermediaries for virtual - currencies in Singapore have already taken enough measures to combat the finances for terrorism requirements and comply with anti-money laundering procedures.

«With xRapid and XRP, financial institutions can eliminate the need for costly intermediaries or pre-funded Nostro accounts in destination currencies,» the company said in a statement on its insights blog.

In its statement, the regulator said it will introduce legislations requiring virtual currency intermediaries that buy, sell, or facilitate the exchange of such currencies for real currencies to verify the identities of their customers.

The Monetary Authority of Singapore (MAS) said in a statement Thursday it will «regulate virtual currency intermediaries» operating in the country due to the associated risks.

The Singapore regulator in 2014 said it would introduce legislations that required virtual currency intermediaries operating in the country to comply with measures to curb money laundering and terrorism funding.

This chicken - and - egg scenario in which bitcoin co-exists with existing (and more commonly accepted) fiat currencies means that currency conversions must still occur at each end of the transmission, which then requires intermediaries in the form of bitcoin exchanges and the fees they will necessarily levy.

OKCoin International used to accept USD deposits, but certain «issues» with intermediary banks resulted in company dropping its support for this currency.

In an announcement, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market said it is «reviewing and considering the development of a robust, risk - appropriate regulatory framework to regulate and supervise activities of virtual currency exchanges and intermediaries.»