• Latest
  • Trending
SEC to Gain Significant Oversight on Stablecoins, Tether to Test Notabene’s Travel Rule Solution

SEC to Gain Significant Oversight on Stablecoins, Tether to Test Notabene’s Travel Rule Solution

October 26, 2021
Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

January 29, 2023
Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

January 29, 2023
Panama’s Supreme Court to rule on cryptocurrency legislation

Panama’s Supreme Court to rule on cryptocurrency legislation

January 29, 2023
DOGE Price Analysis for January 29

DOGE Price Analysis for January 29

January 29, 2023
AAVE Gets Cleared Of Bad Debt

AAVE Gets Cleared Of Bad Debt

January 29, 2023
the recent rally in Bitcoin may not be ‘sustainable’

the recent rally in Bitcoin may not be ‘sustainable’

January 29, 2023
North Korean hackers launder $27M ETH from Harmony Bridge attack

North Korean hackers launder $27M ETH from Harmony Bridge attack

January 29, 2023
Mina, MATIC Come Into Spotlight as ZK Tokens Start Gaining Momentum

Mina, MATIC Come Into Spotlight as ZK Tokens Start Gaining Momentum

January 29, 2023
Fantom (FTM) Gains 39% In 7 Days Following its Integration With Axelar Network

Fantom (FTM) Gains 39% In 7 Days Following its Integration With Axelar Network

January 29, 2023
  • Privacy Policy
Sunday, January 29, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

SEC to Gain Significant Oversight on Stablecoins, Tether to Test Notabene’s Travel Rule Solution

J_News by J_News
October 26, 2021
in Crypto Technical Analysis, Top News
0
SEC to Gain Significant Oversight on Stablecoins, Tether to Test Notabene’s Travel Rule Solution
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Legal & Regulation

SEC to Gain Significant Oversight on Stablecoins, Tether to Test Notabene’s Travel Rule Solution to Comply with FATF Guidelines

  • AnTy
  • October 26, 2021

The US Securities and Exchange Commission (SEC) has moved closer to having significant oversight on stablecoins, said Bloomberg in a report citing people familiar with the matter.

The Treasury Department and other agencies are reportedly planning to release a report this week that will indicate that the SEC has significant authority to regulate fiat pegged cryptos.

The report will also urge Congress to pass legislation specifying coins that should be regulated similarly to bank deposits, one of the people said.

SEC Chairman Gary Gensler has reportedly pushed for the changes behind closed doors. He is further seeking to clarify that they will take a more active role in stablecoin regulation in the short term, according to the report. Meanwhile, the agency is awaiting legislative changes in the long term.

FATF Travel Rule Compliance

Amidst this, the dominant stablecoin Tether announced on Tuesday that it would be using Notabene, an end-to-end solution designed for crypto Travel Rule compliance. Tether will be testing the solution to combat money laundering and crime in cross-border VASP-to-VASP transactions.

It will allow Tether to see how it can send other Virtual Asset Service Providers (VASPs) the required information regarding its customers in a secure manner.

This move will help the USDT stablecoin issuer comply with the money-laundering watchdog Financial Action Task Force’s (FATF) guidelines.

As per the guidelines, VASPs should transmit specific customer data between counterparties for transactions over a certain threshold which the regulator says will help them in combating money laundering, terrorist financing, and abiding by sanctions measures.

“It’s important that we work with other large VASPS to build this industry from the ground up,” said Leonardo Real, CCO of Tether.

“Because the Travel Rule traditionally applies to financial institutions, we see this as an opportune moment to foster cooperation across traditional and digital channels in order to create better services for customers globally.”

OCC Supervision Plan Covers Crypto

In other news, in its bank supervisory objectives for the fiscal year 2022, the Office of the Comptroller of Currency’s planning guidance for examiners included crypto assets besides the transition from LIBOR, fintech, and climate risk among areas of focus.

The OCC said its supervision would focus on the impacts of the COVID-19 pandemic and resulting operational, financial, compliance, and economic implications. For fintech and crypto assets, bank examiners

“should identify banks that are implementing significant changes in their operations using new technological innovations and evaluate implementation, including use of cloud computing, artificial intelligence, and digitalization in the risk management processes.”

AnTy

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.



Source link

Related articles

Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

January 29, 2023
Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

January 29, 2023
ShareTweetShareShare
Previous Post

Sequoia Capital Plans to Invest More in Crypto

Next Post

One for bears, the other with ‘leverage for ants’

Related Posts

Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

by J_News
January 29, 2023
0

Alex Dovbnya As the launch date inches closer, the Shiba Inu community is patiently awaiting further updates from the development...

Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

by J_News
January 29, 2023
0

Blockchain technology has been rapidly growing in popularity over the past few years, and it is expected to continue its...

Panama’s Supreme Court to rule on cryptocurrency legislation

Panama’s Supreme Court to rule on cryptocurrency legislation

by J_News
January 29, 2023
0

Panama's crypto bill saga has reached a new chapter, with the country’s Supreme Court set to decide the future of...

DOGE Price Analysis for January 29

DOGE Price Analysis for January 29

by J_News
January 29, 2023
0

Buyers remain stronger than sellers even on the last day of the week. DOGE/USD DOGE is not an exception, rising...

AAVE Gets Cleared Of Bad Debt

AAVE Gets Cleared Of Bad Debt

by J_News
January 29, 2023
0

The lending platform AAVE has been enjoying positive news lately. According to reports, AAVE has passed a governance proposal that...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

Web3.0 Game project Magic Fantasy has completed $3 M private round investment.

Web3 vs Web2 – What Are Some Of The Core Differences?

Crypto Adventure Launches Crypto Guest Post Services

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT