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Top related persons:
FTX - 1 John Schindler - 1 Schindler - 1 Bitcoin - 1 IOSCO - 1 Huw Jones - 1 Louise Heavens - 1
Top related locs:
FTX Bahamas Basel
Top related orgs:
Ripple Labs - 1 European Union - 1 FSB - 1 Thomson - 1

Search resuls for: "John Schindler"


2 mentions found


☆ Global rules leave crypto firms with no place to hide, says G20 watchdog
  + stars: | 2023-07-17 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, July 17 (Reuters) - Globally agreed rules leave crypto firms with no option but to introduce basic safeguards to prevent the blow-ups seen at FTX exchange and other crypto casualties, the G20's Financial Stability Board said on Monday. The FSB published on Monday final recommendations requested by the G20 on supervising firms that trade cryptoassets such as bitcoin. The watchdog also revised its existing recommendations for stablecoins in light of the demise of TerraUSD/Luna coins. The collapse of FTX in November 2022 highlighted vulnerabilities from crypto firms and the FSB said that all countries should apply the recommendations, even those that are not members of the watchdog. "Therefore, cryptoasset players need to stop operating outside the regulatory perimeter or in non-compliance with existing rules," FSB Secretary General John Schindler told reporters.
Persons: FTX, John Schindler, Schindler, Bitcoin, IOSCO, Huw Jones, Louise Heavens Organizations: Ripple Labs, European Union, FSB, Thomson Locations: FTX, Bahamas, Basel
☆ Crypto must end anonymity for illicit finance, U.S. regulator says
  + stars: | 2023-04-25 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, April 25 (Reuters) - Anonymity is allowing crypto assets to finance illegal activities, a top U.S. regulatory official said on Tuesday, posing national security risks that must be addressed. "It's essential for governments and particularly the industry to address that which makes crypto so attractive to illicit finance, and that is the allure of anonymity," she said. Legally compliant crypto companies should not be using "mixers" or software tools that effectively anonymise users by pooling and scrambling cryptocurrencies from thousands of addresses. Compliant crypto companies must show they have internal controls to prevent money laundering and terrorist financing. "It's possible for all crypto companies to distance themselves from mixers and anonymity enhancing technology while still providing customers financial privacy," Romero said.
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