Shyft Network Mar 23 · 4 min read The EU Parliament will cast its final vote on the MiCA legislation on April 19, 2023. If approved, MiCA regulation will establish a licensing regime for crypto across the EU and introduce reserve requirements for stablecoins. The European Banking Authority (EBA) is hiring crypto-skilled staff to prepare … Read more
Shyft Network Mar 20 · 4 min read Welcome to another edition of the Veriscope Regulatory Recap. This week, we look at Illinois’ proposed crypto bill, a Federal Judge taking on the SEC over current regulatory uncertainty, the EU’s bill to regulate smart contracts, and Russia’s first CBDC regulation draft. But no matter what regulatory … Read more
The FATF Travel Rule is a set of virtual asset-related recommendations by the Financial Action Task Force, first published in 2019. The 39-member Financial Action Task Force sets global standards to stop the movement of illicit funds. The threshold amount at which the FATF Travel Rule kicks can vary between jurisdictions, depending on the specific … Read more
Shyft Network Mar 13 · 3 min read Welcome to another edition of Veriscope Regulatory Recap! This week, we have covered the debate on crypto regulations in the US House of Representatives, India enforcing KYC/AML requirements to crypto businesses, and the UK’s FCA Chair calls stringent crypto regulations a must to prevent money laundering risks. … Read more
Shyft Network Mar 13 · 9 min read In stark contrast to China’s response toward cryptocurrencies, Hong Kong is positioning itself as Asia’s crypto hub through several initiatives and measures. Hong Kong’s most recent crypto-focused measure is a consultation paper on the proposed regulatory requirements for licensed Virtual Asset Trading Platform Operators from the city-state’s … Read more
Shyft Network Mar 7 · 4 min read The IMF has released a paper addressing concerns raised by member countries on the risks and benefits of crypto and how to structure appropriate policy responses. The paper sets out a framework of nine elements to help member countries develop a comprehensive, consistent, & coordinated policy response. … Read more
Shyft Network Mar 7 · 3 min read Sygna, the modular crypto AML compliance service provider, has partnered with Shyft Veriscope, the frictionless crypto Travel Rule compliance solution, to bring a seamless user experience to Sygna’s users and the crypto industry one step closer towards full interoperability and a solution to the Travel Rule’s remaining … Read more
Shyft Network Mar 6 · 5 min read Monday blues? Not anymore, as you can start the week on a strong note with Veriscope Regulatory Recap. So, what have we got this week? A recent G20 meeting of finance ministers and Central Bank Chiefs concluded with strong commitments to the crypto sector, France moves ahead … Read more
Shyft Network Mar 1 · 3 min read Welcome to Shyft Dev Deep Dive, the monthly update on Shyft-wide features and technical changes. Not only did we onboard KnowYourVASP.io as a verifier on Shyft Network in February, but we also made significant progress on two major initiatives, which we will be releasing in the coming … Read more
Shyft Network Mar 1 · 8 min read A more than trillion-dollar crypto market has grown significantly over the past few years in the range of products and services it offers. However, usability and privacy challenges persist, with crypto hacks nearly touching the mark of US$4 billion in 2022. Regulatory compliance is prescribed as a … Read more
