Mixers, cold storage and onions…cocktail party or digital money laundering?

By Amy Ciolek and Julia Massarin

With terminology such as mixers, cold storage, tumblers and Onions 
(Onion Routers) (TOR), one may be excused for overlooking the 
significance of money laundering the digital age. 

FATF Report to G20 Finance Ministers and Central Bank Governors

In July 2018, the Financial Action Task Force (FATF) published its report to the G20 Ministers and Central Bank Governors on digital currency, which reports that:

  • the link between virtual currencies/crypto-assets and other predicate crimes appears to be growing;
  • countries have regulated crypto in various ways, from implementing a blanket ban against dealing, use, issue and settling, to regulating crypto exchanges; and
  • FATF will review its 2015 guidance about crypto currency, and will meet again in September 2018 to discuss crypto related money laundering in more detail.

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Contrasting Regulatory Approaches to FinTech

Written by Amy Ciolek, Nicola Greenberg and Kishaya Delaney

Various crypto news sites are publishing that the UK’s Financial Conduct Authority (FCA) has accepted 11 blockchain-based financial service providers into its recent (4th) SandBox cohort.  This includes startups testing cryptoasset offerings. The FCA has stated: “We are keen to explore whether, in a controlled environment, consumer benefits can be delivered while effectively managing the associated risks”. Continue reading