Sentences with phrase «for preventing money laundering»

«The Law Society «solution» for preventing money laundering is to rely entirely upon the integrity of individual lawyers — with no accounting or oversight by the law society or anyone else unless a complaint is made.

The Australian government explains that it has taken the same approach that countries such as the United States, United Kingdom, and Canada have taken regarding digital currency businesses because it will facilitate innovation and follow guidance issued by the Financial Action Task Force — the international regulator for preventing money laundering, terrorism financing, and other dangers that hinder the world's financial system.

Not exact matches

Japan will urge its G20 counterparts at a meeting next week to beef up efforts to prevent cryptocurrencies from being used for money laundering, a government official with direct knowledge of the matter said.

Japan will urge its G20 counterparts at a meeting next week to beef up efforts to prevent cryptocurrencies from being used for money laundering.

In the meantime, a self - regulatory group — the Committee for the Establishment of the Digital Asset Transfer Authority — «will set technical standards aimed at preventing money - laundering and ensuring compliance with laws.»

Le Maire elaborated about Landau's special task: «This mission will propose reorientations on the evolution of [cryptocurrency, and] regulation to better control development, prevent their use for [the] purposes of tax evasion, money laundering, or financing of criminals or terrorism.»

In a speech in January, France's finance minister called for proposals aimed at preventing virtual currency from being used to launder money, evade taxes, and finance terrorism, and asked a former Bank of France deputy governor to investigate cryptocurrencies.

The European Parliament recently published a report detailing directives to prevent the use of the financial system for the purposes of money laundering or terrorist financing.

The U.S. Treasury recently declared that any entity engaged in the exchange of virtual currency for fiat currency must register as a currency exchange and take steps to prevent money laundering.

New rules aimed at preventing the use of the growing crypto - sector for money laundering, tax evasion and other criminal acts.

Money transmitter licenses, which are required for California MSBs (money services businesses), protect consumers by preventing money laundering in addition to maintaining public confidence in financial institutions and preserving the health, safety, and general welfare of the puMoney transmitter licenses, which are required for California MSBs (money services businesses), protect consumers by preventing money laundering in addition to maintaining public confidence in financial institutions and preserving the health, safety, and general welfare of the pumoney services businesses), protect consumers by preventing money laundering in addition to maintaining public confidence in financial institutions and preserving the health, safety, and general welfare of the pumoney laundering in addition to maintaining public confidence in financial institutions and preserving the health, safety, and general welfare of the public.

On 5 December 2013, the People's Bank of China announced in a press release regarding bitcoin regulation that whilst individuals in China are permitted to freely trade and exchange bitcoins as a commodity, it is prohibited for Chinese financial banks to operate using bitcoins or for bitcoins to be used as legal tender currency, and that entities dealing with bitcoins must track and report suspicious activity to prevent money laundering.

In closing, Bair calls on the government and Congress, in particular, to provide additional oversight to prevent fraud, money laundering and the use of cryptocurrencies for illicit activities.

The fed regulations that I mentioned in the comment are there to prevent money laundering for criminal and terrorist organizations.

The Directive aims to prevent the European Union's financial system from being used for tax evasion, terrorist financing and money laundering.

The bank will also will pay a $ 350 million civil penalty for what the Treasury Department called «critical and widespread deficiencies» in its programs to prevent money laundering and other suspicious activity.

It builds on the 4th Directive implemented in May 2015 to prevent the use of the financial system for finan - cial crimes such as money laundering and terrorist fi - nancing.

The Attorney General also restated the intention to consult on extending the criminal offence of «failure to prevent» to other economic crimes such as fraud and money laundering so that firms are properly held to account for criminal activity that takes place within them.

This is regarded as a protective measure for exchange customers to minimise risks and prevent the use of these trading platforms for money laundering.

Japan will urge its G20 counterparts at a meeting next week to beef up efforts in order to prevent cryptocurrencies from being used for money laundering, a government official with direct knowledge of the matter said.

Thailand's government wants to prevent the usage of Bitcoin and other cryptocurrencies for money laundering, tax evasion, buying and selling of drugs, and other criminal actions.

Kookmin Ilbo quotes an anonymous Shinhan source as saying, «These guidelines will help prevent money laundering, but it will take time for us to prepare a system that lets us adhere to them.»

European Union states and legislators agreed on Friday on stricter rules to prevent money laundering and terrorism financing on exchange platforms for bitcoin and other virtual currencies, the EU said in a statement.

As reported by CoinDesk, the FSC announced in January that, from the end of the month, banks would no longer be allowed to service virtual accounts for investors at cryptocurrency exchanges, an effort that sought to prevent anonymous cryptocurrency transactions from being used in money - laundering activities.

He stressed that financial authorities would not distinguish between cryptocurrencies and fiat currencies for the purpose of preventing money laundering and terrorism financing.

The European Council and European Parliament agreed on Friday to impose stricter rules targeting exchange platforms for bitcoin and other cryptocurrencies to prevent the financing of terrorism and money laundering.

For this reason, Coinbase requires one to fill out an extensive personal information and monitor the accounts to prevent money laundering.

After the historical Coincheck hack in January that saw the loss of 530 million dollars worth of cryptos, the Financial Services Agency (FSA), Japan's financial watchdog, intervened and halted Coincheck operations until it implemented mechanisms to prevent money laundering and enhance protection for client assets» protection.

In January South Korea prohibited using anonymous accounts for cryptocurrency exchange customers to prevent digital assets from being used for money - laundering purposes.

As for requiring users to link their trading accounts with real bank accounts, that's meant to prevent crimes like money laundering.

The implementation of this new account system effectively ends «the use of anonymous bank accounts in transactions to prevent virtual coins from being used for money laundering and other illegal activities,» Yonhap reported.

The regulations will also prevent the abuse of cryptocurrencies from criminals using it as a tool for money laundering.

According to Reuters, the Financial Action Task Force (FATF), a 37 - nation body working on standards to prevent money laundering, will prepare a report for the G20 meeting on ways of combating digital currency money laundering.

As for the effectiveness of the whole «Fintrac fiasco», how is paperwork sitting in our files going to prevent any terrorist or money - laundering activity?