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🚀Elevating Crypto with Compliance: A Cultural Imperative for All Employees In the transformative world of cryptocurrency, compliance isn't just a box to check—it's the bedrock of our culture. Here’s why every one of us must embrace it as a personal responsibility: 💡 Building Unshakable Trust: In an industry where transparency is paramount, compliance acts as our cornerstone. By adhering to rigorous standards, we bolster confidence among investors, partners, and users, showcasing our unwavering commitment to integrity. 🛡️ Safeguarding Our Ecosystem: As the crypto landscape expands, so do the risks. From fraud to cyber threats, the challenges are manifold. A robust compliance culture acts as our shield, protecting the ecosystem and ensuring its longevity. 📖 Championing Continuous Learning: Compliance is an evolving field, much like crypto itself. Empowering every employee to stay abreast of the latest regulations and best practices ensures we remain agile and ahead of the curve. 🤝 Unified Responsibility: Compliance isn’t confined to a single department—it's a collective endeavor. When each team member, from engineers to executives, takes ownership, we foster a vigilant and cohesive organization. 🌍 Adhering to Global Standards: Operating in a borderless market means upholding international regulations. A unified compliance culture ensures we meet and exceed these standards, reinforcing our global reputation and operational integrity. 🌟 Enabling Innovation: Far from being a hindrance, compliance is a catalyst for innovation. By creating a secure and trustworthy environment, we empower our teams to push boundaries and explore groundbreaking advancements with confidence. In the crypto ecosystem,we are committed to embedding compliance into our DNA. Together, let’s set the gold standard for a secure, transparent, and innovative crypto future. Every step we take in compliance is a stride towards excellence. #ComplianceFirst #CryptoLeadership #BlockchainInnovation #GlobalStandards #IntegrityMatters #TrustInCrypto

🌍 Navigating the Regulatory Landscape: Mica Regulations and Their Impact on Crypto Assets 🌍 The European Union's Mica regulations are poised to reshape the regulatory framework governing various sectors, including the rapidly evolving realm of crypto assets. Aimed at enhancing transparency, consumer protection, and market integrity, these regulations present both challenges and opportunities for the crypto community. Key facets of the Mica regulations affecting crypto assets: 🔍 Transparency Requirements: Mandates for clear and detailed disclosures regarding crypto asset offerings, ensuring investors have access to accurate information to make informed decisions. 🔒 Security Standards: Stricter cybersecurity measures and robust custodial practices to protect digital assets from theft and fraud, bolstering investor confidence and market stability. 🌱 Compliance Obligations: Requirements for crypto asset service providers to adhere to regulatory standards, promoting accountability and mitigating risks associated with illicit activities such as money laundering and terrorist financing. 📈 Innovation and Adaptation: Despite regulatory challenges, opportunities arise for innovation within compliant frameworks, fostering sustainable growth and mainstream adoption of crypto assets. 🌐 Global Implications: As a pioneering regulatory initiative within the EU, Mica regulations are expected to influence global regulatory trends, shaping international practices and standards in the crypto industry. #MicaRegulations #CryptoAssets #BlockchainTechnology #RegulatoryCompliance #Innovation #ConsumerProtection #DigitalFinance #Cybersecurity

As we wrap up July, a couple of notable developments in the Hong Kong market. 1. The HKMA has published its consultation conclusions on the proposed stablecoin regulatory regime last month. A new draft bill will be introduced to the Legislative Council, and several participants are already participating in the HKMA sandbox. 2. While not exactly new news, a new cybersecurity law for critical infrastructures was proposed by the Hong Kong Government in July. The proposed legislation covers designated critical infrastructure operations in 8 service sectors, including banking and financial services. One to monitor. 3. Staying on the theme of tech, the HKMA published a bulletin on a reg tech solution for best execution. Notable development to what has traditionally been a tricky topic. Contact us to find out more. #regtech #regulatory #stablecoin #tech

The EU's Digital Operational Resilience Act (DORA) represents a pivotal shift in regulatory compliance for the financial sector, especially challenging for crypto-asset service providers, set to take effect on January 17, 2025. Here are key aspects: ⏳ Implementation Deadline: Financial entities must be fully compliant by January 17, 2025, facing a critical timeframe for adaptation. 🛡 Scope and Impact: DORA affects the entire EU financial services ecosystem, from investment firms to crypto services, demanding extensive operational resilience. ⚠ Compliance Penalties: Non-compliance may result in fines up to 1% of the entity's global daily turnover, with potential daily accrual until compliance is achieved. 🤝 Synergy with MiCA: The regulation intersects with the Markets in Crypto-Assets (MiCA) regulation, compounding the compliance requirements for crypto firms. 🗺 Diverse Applicability: While some crypto entities may find exceptions, the majority must navigate the combined demands of DORA, MiCA, and other regulatory frameworks, emphasizing the need for preparedness in ICT resilience against cyber threats and operational failures. Vixio Regulatory Intelligence covers all regulatory developments across the crypto and payments industry in the EU and beyond. #DORA #MiCA #cryptoregulation

France Leads MiCA Applications 🇫🇷 France’s AMF is now accepting applications for CASP (Crypto-Asset Service Providers) authorization under the MiCA regulation. Starting from December 30, 2024, ten key crypto-asset services will require authorization, including custody, trading platforms, exchanges, and advisory services. Providers must comply with strict rules on AML, cybersecurity, and more. Current French DASPs have a transition period until June 2026 to obtain MiCA authorization. Key rules include: 📜 Authorization & Licensing: Detailed white papers and transparency. 💪 AML & CTF: Strong measures against financial crimes. 🛡️ Consumer Protection: Clear disclosure of risks and costs. 🔒 Cybersecurity: Enhanced security protocols. ⚖️ Market Fairness: Regulated public offerings and stablecoin issuance. For more detailed information, you can visit the official AMF website 👇 https://lnkd.in/erdKhCPA #CryptoRegulation #France #MiCA #Blockchain #CryptoAsset

🔗 French Regulator Prepares for MiCA Rollout 🔗 🚀 The French financial markets regulator, AMF, is now accepting applications for crypto asset service providers (CASPs) ahead of the Markets in Crypto-Assets (MiCA) regulations. Here are the key points: 🎤 Early Applications: CASP applications are open six months before MiCA regulations take effect. 🎤 Uniform Rules: New authorization will enforce standardized rules for AML, CFT, and cybersecurity. 🎤 Transition Period: Firms have until July 1, 2026, to transition from France’s PACTE regime to CASP authorization. https://lnkd.in/d_Kp5Bae #web3 #MiCA #digitalassets

Binance to be under FRA surveillance for next 3 years: Report. International consultancy firm Forensic Risk Alliance will reportedly closely oversee all compliance activities of cryptocurrency exchange Binance for the next three years. The United States Department of Justice (DOJ) has reportedly appointed international consultancy firm Forensic Risk Alliance (FRA) to ensure cryptocurrency exchange Binance complies with regulatory requirements over the next three years, according to sources familiar with the matter. Appointing a third-party firm to monitor the exchange’s compliance over the next three years was a key requirement of Binance’s plea deal in November 2023, where it pleaded guilty to money laundering and other federal charges, along with receiving a $4.3 billion fine. FRA will have access to internal records, premises, and employees to provide the DOJ with updates on the company’s activities, according to a May 10 Bloomberg report. Law firm Sullivan & Cromwell was reportedly initially first in line for the contract, but the firm's prior work for rival crypto exchange FTX before its bankruptcy led the DOJ to appoint FRA instead. On Feb. 17, Cointelegraph reported that FTX creditors alleged that Sullivan & Cromwell actively participated in the “FTX Group’s multibillion dollar fraud.” “S&C knew of FTX US and FTX Trading Ltd.’s omissions, untruthful and fraudulent conduct, and misappropriation of Class Members’ funds,” the creditors stated in a court filing as part of the class-action lawsuit. See more at! https://lnkd.in/d6Mss9Up

Have you ever wondered 🧐 about the regulatory challenges in the world of crypto-assets? Let's take a closer look! 🚀 📈 Uncertainty and Lack of Clarity: The regulatory landscape for crypto-assets is constantly evolving, and there is a lack of clarity and consistency in the regulatory requirements across different jurisdictions. 💼 💎 Compliance and Reporting Requirements: Virtual Assets Service Providers (VASPs) or Crypto Asset Service Providers (CASPs) are subject to various compliance and reporting requirements, such as anti-money laundering (AML), Countering the Financing of Terrorism (CFT), and know-your-customer (KYC) regulations, which can be complex and costly to implement. 💰📋 💼 Consumer Protection and Financial Crime Risks: Regulators are concerned about the risks posed by crypto-assets to consumer protection and financial stability, including fraud, theft, hacking, scams, market manipulation, and money laundering. 🛡️💸 🌐 Cross Border Transactions: The cross-border nature of crypto-assets and the lack of harmonized regulations across different jurisdictions pose challenges for CASPs in complying with regulatory requirements and mitigating risks. 🔒 For example, the Travel Rule for Virtual Assets by the Financial Action Task Force (FATF) 🌌 Innovation and Technological Complexity: The innovative and complex nature of crypto-assets and their underlying technologies, such as blockchain and cryptography, pose challenges for regulators in understanding and regulating these assets effectively. 🔐 📣 Disclaimer: Sharing my learnings and experiences on LinkedIn.🤝 So, let’s Keep exploring, and unravel the world of crypto-assets together’ ✨ #Crypto #regulation #bitcoin #Compliance #finance #innovation Source: Atlantic Council FlowTrader KPMG ComplyAdvantage

Are you ready to blast off and explore illicit finance risks in virtual worlds and crack down on crypto crime? If so, don’t miss out on ACFCS’ Crypto and Web3 Compliance Symposium, starting in one hour! This event is one of the many benefits of becoming an ACFCS member, along with interactive training modules and hundreds of hours of archives, webinars, and events. ACFCS will be your mission control for this full-day virtual event as you take a trip through dynamic panels, case studies, and lively discussions with top compliance minds and current and former regulators and investigators on topics like: 🔸 Darknets, Big Business, Crypto Fraud - How Darknet Markets Fuel Fraud Risks and What to Do About It 🔸 Hogwash: Unraveling Pig Butchering Scams Through Public-Private Partnerships 🔸 Mixing, Tumbling, and Blacklisting - Sanctions Enforcement and Trends in Crypto and Web3 🔸 From Crypto to Nukes - A Case Study of North Korean Crypto Crime 🔸 And much more Want to attend? Become an ACFCS member here: https://bit.ly/4aM60Ez Want to bring your team along for the ride? Reach out to Victor Chinchilla, ACFCS’ Sales Director, at: [email protected]. Already a member, but haven't registered yet? Fix that here: https://bit.ly/3VqXFRL #ACFCS #AML #MoneyMules #Compliance #DOJ #PigButchering #InvestmentScam #CryptoScams #HumanTrafficking #LinkedIn #Fraud #RomanceScams #Investigations