Sentences with phrase «fiat transactions involved»

Not exact matches

Going forward, exchanges must meet new obligations, which include: registering with the agency, adopting and maintaining an AML / CTF program, identifying and verifying users, and reporting suspicious behaviour and transactions involving fiat currency of A$ 10,000 (US$ 7,700) and over.

from the Virginia Bureau of Financial Institutions informs residents that the Money Order Sellers and Money Transmitters codes do «not currently regulate virtual currencies; however, to the extent virtual currency transactions also involve the transfer of fiat currencies.»

«Not only are transactions involving the digital currency faster and more secure than those made with fiat currencies, but the technology behind it, called the blockchain, could change the way we deal with financial contracts and keep information, as well as assets, secure,» he concluded.

Singaporean laws do not make any distinction between transactions involving fiat currencies and cryptocurrencies like bitcoin under money laundering and counter-terrorism financing laws, the country's deputy prime minister said yesterday.

In cross-border transactions involving multiple currencies, the exchange of fiat currency to Lumen and vice-versa allows consumers and businesses to send and receive money across borders, faster and cheaper than traditional payment services.