Sentences with phrase «prevent money laundering using»

In the same month, the Austrian Minister of Finance proposed the imposition of laws relating to financial derivatives on crypto currency to prevent money laundering using the digital currency.

Not exact matches

TEHRAN, Iran — Iran's Central Bank has officially banned the use of cryptocurrencies in financial transactions in order to prevent money laundering and terrorism, a newspaper reported Monday.

An Iranian newspaper says the country's Central Bank has officially banned the use of cryptocurrencies in financial transactions in order to «prevent crimes such as money laundering and terrorism.»

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.

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.

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

This move aims at preventing bitcoin from being used as a money laundering tool.

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In addition to setting limits to what can be withdrawn using each method, there are also internal controls which have been put in place to prevent money laundering.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.

A power they used when Plus500's less than stringent documentation requirements failed to protect against customer losses and prevent money laundering.

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

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.

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

This was to prevent exchanges from being used to evade taxes or launder money.

This identity confirmation is designed to prevent money laundering and other illegal activity that could be facilitated by the use of cryptocurrency.

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.

The technology being used also prevents contributors from creating more than one account, ensuring they undergo the proper KYC requirements and can not use the token sale as a way to launder money.

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.

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

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.

CryptoUK will work with the UK on issues like preventing Bitcoin (BTC) and cryptocurrencies from being used in money laundering and other illegal activities, but will not deal with ICO regulation.

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

Christine Lagarde, the IMF's managing director, wrote in a Tuesday blog post that she believes regulators can use blockchain or other distributed ledger technologies (DLT) to regulate Bitcoin and other cryptocurrencies and prevent them from being used in connection with money laundering and other financial crimes.