skip to Main Content
CipherTrace is hiring! See our current job openings.

Regulatory and Legislative Analysis #6

Regulatory and Legislative Analysis – Global The Bank for International Settlement (BIS) publishes a report on project mBridge, which experiments with cross-border payments using a common platform based on distributed ledger technology (DLT) upon which multiple central banks can issue and exchange their respective central bank digital currencies (multi-CBDCs).  The report was developed by BIS,…

Read more

Regulatory and Legislative Analysis #5

Regulatory and Legislative Analysis – United States Various reports issued in response to the March 2022 Executive Order of responsible development of digital assets on September 16th (various links within text) US Department of Treasury issued Action plan to address illicit financing risks of digital assets. This report discussed threats (i.e., money laundering and terrorist…

Read more

Key Takeaways: Agreement on MiCA, European crypto-assets regulation

On June 30, 2022 the EU Council Presidency and the European Parliament reached a provisional[1] agreement on the scope and direction of the Markets in Crypto-Assets Regulation. For the first time, European lawmakers aim to harmonize rules for crypto across the European Union and address the borderless risks introduced by crypto-assets while fostering innovation. Once…

Read more

Second Mixer, TORNADO CASH, Added to OFAC Sanction List

On August 8, 2022, the United States Office of Foreign Assets Control (OFAC) updated its Specially Designated Nationals (SDN) List adding TORNADO CASH (a.k.a. TORNADO CASH CLASSIC; a.k.a. TORNADO CASH NOVA) along with 44 addresses from the Ethereum blockchain. This was an example of OFAC implementing sanctions on the person/entity level. OFAC, which sits within…

Read more

Regulatory and Legislative Analysis #4

Regulatory and Legislative Analysis – Global The Financial Stability Board (FSB) issues statement on international regulation and supervision of crypto-asset activities On July 11th, the FSB issued a statement following “recent turmoil in the crypto-asset markets”. Click here for a detailed overview. The key insights are as follows: The recent turmoil in the crypto-assets markets highlights their intrinsic volatility,…

Read more

Regulatory and Legislative Analysis #3

Regulatory and Legislative Analysis – Global Financial Action Task Force (FATF): Targeted Update on Implementation of FATF’s Standards on Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs) On June 30, 2022, the FATF released a targeted update for VA and VASP standards. This release focused heavily on the Travel Rule (for more background on…

Read more
CipherTrace cyrptocurrency crime and anti-money laundering report

Crypto crime: Combatting hacks, thefts, and fraud in the decentralized finance ecosystem

The last seven months have been thrilling for us. In October 2021, Mastercard acquired CipherTrace. Together, we’ve been accelerating our efforts to ensure that the crypto economy is instilled with the same trust and peace of mind that consumers currently experience with more traditional payment methods. Now that we’re part of the Mastercard family, we…

Read more
NFT Crypto Art

The J5 NFT Marketplace Red Flag Indicators Intelligence Bulletin

On April 28, 2022, the Joint Chiefs of Global Tax Enforcement (‘J5’) issued a risk and red flags bulletin that highlighted significant and moderate fraud risk considerations with regards to Non-Fungible Tokens (NFTs). What is the J5? Since being formed in 2018, the J5 have been committed to combating transnational tax crime through increased enforcement…

Read more

Regulatory and Legislative Analysis #1

CipherTrace’s Current Trends in Ransomware Report CipherTrace has published its Ransomware report in April 2022. Ransomware continues to be a major cybersecurity challenge that impacts us all – from big industry to small businesses to individuals. In 2021, we analyzed trends in ransomware usage and bottled those up in our latest Current Trends in Ransomware Report.…

Read more

What are Virtual Assets and Virtual Asset Service Providers, and why do we need to know about the Financial Action Task Force?

FATF Background Founded in 1989, the Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. The FATF Recommendations are recognized as the global anti-money laundering (AML) and counter-terrorist…

Read more
Back To Top