Yes, you heard it right – EOS may have raised ~$4 billion via unlawful securities offering, but they only had to pay $24 million in fines You might be wondering: if they did something wrong, why they paid so little, and if they did not do anything wrong, why did Read more…
On August 26th 2019, FINMA issued additional guidelines to clarify Swiss position with respect to AML/KYC requirements as they relate to blockchain-based transactions. As a reminder – this comes as an aftermath following FATF requirement to mandate so called “travel rule” to be applicable for blockchain transactions, which essentially means that Read more…
First important point – FATF guidelines are NOT for companies or businesses or private sector, they target national authorities of FATF member countries. Which means, until FATF recommendations are implemented into the national law, they are not binding. So – What Needs to Change in the National Legislation? VASPs Read more…
It is not uncommon to see regulatory requests for cryptocurrency-focused businesses to split activities into 2 parts: regulated and non-regulated. For example, the licensed (e.g. regulated) entity may be dedicated to operations with fiat funds and fiat deposits, and non-regulated entity would be facilitating transactions with cryptocurrencies or managing Read more…
It’s been reported recently by a number of news outlets (here or here) that Luxembourg introduced a new Blockchain law. Why I refer to it as an “unfortunate hype” is because, factually speaking, this regulatory statement did not introduce any significant changes and did not really provide Read more…
Many startup founders ask me how to optimize the cost of transaction monitoring or blockchain tracking. Is it really necessary to send all transaction for monitoring and all blockchain transactions for risk-scoring? No! You can be selective and apply a risk-based approach 🙂 It might indeed be very costly to Read more…
Disclaimer (i wrote this post in summer 2017, and it’s surprising that it is still very much valid 🙂 ) After a few recent conference speeches and meetup appearances, it became clear to me that ICO hype continues; and continues to be surrounded by equally impressive volume of city-legends and Read more…
