A new digital currency payment bill proposed by the G20 is set to propel the adoption of cryptocurrencies to levels never seen before. The G20 countries announced on 11 July that they might introduce a regulatory framework to payment of digital currencies and allow “digital currency” instead of just cash payment methods. The Group of Twenty […]
Financial Action Task Force
Germany Clarifies Bitcoin As Financial Instrument and Crypto Custodians as Financial Institutions
EU’s Top financial authority, Bafin is reportedly recommended bitcoin as financial instruments and the crypto custodians as the financial instruments. The recommendation was made following the AMLD5 ( fifth EU Money Laundering Directive) which rolled early this year. Interestingly, AMLD5 will also have an impact on Germany’s Banking Act and Payment Supervision Services Act. Noticeably, […]