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The OCC letter and the future of cryptocurrency: What it means for the Bitcoin price, Wall Street, Facebook and China

The Office of the Comptroller of the Currency (OCC) today published a letter which addresses the legal permissibility of certain payment-related activities that involve the use of new technologies, including the use of independent node verification networks (INVNs or networks) and stablecoins, to engage in and facilitate payment activities.   The OCC has found that payment …

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2020 in Review: Major regulatory developments in cryptocurrency globally

This year has been a busy one for regulations in cryptocurrencies. Both at a supra-national level, with the FATF, as well as at the national level, many countries have actively issued new rulemaking or undertaken significant enforcement or monitoring activity. AML/KYC was a predominant theme of regulatory activity this year, though some significant new frameworks were …

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FinCEN regulation of Unhosted Wallets

FinCEN proposes to establish a Foreign Jurisdictions List which includes countries with heightened AML risk which can also be expanded to include countries that have deficient regulatory frameworks. This article will also talk about the impacts of this List on other countries like India.