The international Financial Action Task Force (FATF) recently issued two announcements updating the list of countries and jurisdictions at high risk of money laundering, terrorist financing, and proliferation financing, and...more
The Bank of Israel is proposing to regulate the provision of services to licensed cryptocurrency service providers (i.e., exchange platforms). The purpose of the proposal is to ensure banks are not able to sweepingly refuse...more
1/11/2022
/ Anti-Money Laundering ,
Anti-Terrorism Financing ,
Banking Sector ,
Banks ,
Cryptocurrency ,
Financial Action Task Force ,
Israel ,
Payment Systems ,
Permits ,
Proposed Amendments ,
Proposed Legislation ,
Reporting Requirements ,
Risk Assessment ,
Tax Certificates
For the first time, companies providing virtual currency services will be required to comply with Israeli anti-money laundering provisions. This follows an amendment to the Prohibition of Money Laundering Order that recently...more
While Israel’s banks are in no hurry to accept the blockchain industry and are avidly trying to keep their distance from cryptocurrencies, this is not the case elsewhere. Recently, the major global securities, derivatives and...more
The first cryptocurrency, Bitcoin, is still the most well-known application of blockchain. However, this technology has since rapidly evolved and expanded in many other areas. The initial hope with Bitcoin was to make both...more
10/19/2020
/ Anti-Money Laundering ,
Bitcoin ,
Compliance ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Entrepreneurs ,
Financial Institutions ,
Institutional Investors ,
Israel ,
Popular ,
Regulatory Standards ,
Securities Tokens ,
Token Sales
Prompted by the use of digital currencies to fund terror and other illegal activity, the Israel Money Laundering and Terror Financing Prohibition Authority has published a document aimed at assisting financial bodies and law...more
7/6/2020
/ Anti-Money Laundering ,
Anti-Terrorism Financing ,
Cryptocurrency ,
FATF ,
Financial Transactions ,
Law Enforcement ,
Money Laundering ,
New Guidance ,
Regulatory Agencies ,
Terrorist Financing Regulations ,
Virtual Currency