Crypto Compliance takes a few big steps forward!
Over the last month we have seen a number of big initiatives take hold. Specifically we have papers from the UK FCA, Germany's BaFin and FATF. Jan 2020 will be big news for those interested in Crypto Compliance. The challenge here will be to try and examine who is impacted and where on the spectrum they lie.
Many of the regulations focus on layering in AML procedures and whilst that is a good thing to protect from bad actors, there are many billions that crypto will benefit that cannot be served by today's financial systems that would be served by crypto systems and the capability to operate using the #PowerofZero.
Stay up to date and check out the links below:
UK Smart Contract Law : https://technation.io/news/uk-takes-significant-step-in-legal-certainty-for-smart-contracts-and-cryptocurrencies/
UK FCA : 5MLD position : https://www.fca.org.uk/firms/financial-crime/cryptoassets-aml-ctf-regime
Germany BaFin : https://news.bitcoin.com/german-banks-authorized-to-store-and-sell-cryptocurrency-in-2020/
Compliance for crypto is moving into the fast lane.