Search Results for: risk assessment

US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

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The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report…

Coinbase Tries AI Assistant Chatgpt for Pre-Listing Risk Assessment of Tokens

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Crypto exchange Coinbase has tested Openai’s Chatgpt as a token verification tool comparing it with its standard security procedure. In over half of the cases, the AI platform produced the same results as the manual review, but it also failed to…

US Lawmaker Urges Government to Guarantee All Deposits to Avoid Runs on Smaller Banks

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A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller…

Fed Chair Powell on Crypto: We See Turmoil, Fraud, Lack of Transparency, Run Risk

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Federal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk…

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

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The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital…

Hong Kong to Introduce Licensing for Crypto Platforms Through AML Law

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New legislation tailored to regulate the crypto space in Hong Kong aims to implement a licensing regime for crypto service providers. The respective changes to the region’s anti-money laundering (AML) rules have been submitted to its legislature while a recently published…

Etoro to Limit Cardano and Tron Services in US Due to Regulatory Concerns

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Etoro, an Israel-based trading platform, has taken action on its platform regarding the trading of cardano and tron. Now, U.S.-based customers will have limited functionality with these cryptocurrencies on the Etoro platform starting in December. Etoro explained in a post that…

Central Bank of Uruguay Describes Roadmap to Crypto Asset Regulation

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The Central Bank of Uruguay has issued a statement describing a roadmap for the regulation of cryptocurrency assets in the near future. The institution stated it has established a group to examine the best way possible to regulate these assets, considering…