The post New Rules for Crypto in Brazil: Central Bank Demands Strict Independent Audits for VASPs appeared on BitcoinEthereumNews.com.
Key Takeaways Central Bank of Brazil issued Instruction 739, forcing VASPs to get independent audits to secure licenses. Audits must ensure that each VASP is prepared to combat and prevent crypto-linked crime. Following the $5B Hidden Flow case, Brazil’s new rules will next tighten oversight to avoid crypto laundering. Central Bank Of Brazil Moves to Add Audit Requirement for VASPs The Central Bank of Brazil has introduced yet another requirement to approve the operation of virtual asset service providers (VASPs) in the country. Under Normative Instruction No. 739, issued on Friday, the bank now requires VASPs to present an independent audit from an entity registered with the Brazilian Securities and Exchange Commission (CVM) to issue operational licenses. The audits, referred to as “reasonable assurance reports,” must contain data assessing the VASP’s
The post Latam Insights: The Global War on Crypto Laundering Heats up Across Mexico and Brazil appeared on BitcoinEthereumNews.com.
Key Takeaways Under Instruction 739, Brazil mandates CVM-registered independent audits to grant crypto licenses. Claudia Sheinbaum inked a €5B EU deal, allowing Mexico to coordinate global anti-laundering rules. Marco Rubio labeled CV and PCC as global terrorists, with FTO compliance penalties starting on June 5. New Rules for Crypto in Brazil: Central Bank Demands Strict Independent Audits for VASPs The Central Bank of Brazil has introduced yet another requirement to approve the operation of virtual asset service providers (VASPs) in the country. Under Normative Instruction No. 739, issued on Friday, the bank now requires VASPs to present an independent audit from an entity registered with the Brazilian Securities and Exchange Commission (CVM) to issue operational licenses. The audits, referred to as “reasonable assurance reports,” must contain data asses
Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this edition, Brazil adds audit requirements for VASPs, Mexico and the EU explore opportunities to target crypto money laundering at a global scale, and the US government declares Brazil’s gangs as global terrorist organizations. New […]
According to Normative Instruction No. 739, issued on Friday, VASPs will now need to undergo an audit by an approved third-party entity to obtain authorization to operate in Brazil. The requirement adds to an already stringent regulation, making the process of obtaining a license in Brazil more difficult. Central Bank Of Brazil Moves to Add […]
Comando Vermelho (CV) and Primeiro Comando da Capital (PCC), considered the largest criminal groups in Brazil, have been designated as terrorist organizations by the U.S. government. The two groups have been involved in the use of digital currency as a money laundering tool for their drug trafficking activities in Brazil and around the world. Comando […]
OKX Ventures and KIS to invest $53 million each for a 19.6% stake in Coinone, deepening ties between traditional finance and crypto in South Korea’s tightly regulated market.
Enterprises, financial institutions, and virtual asset service providers (VASPs) across Korea and the broader APAC region will benefit from the expanded digital asset security and compliance infrastructure thanks to a strategic Memorandum of Understanding (MOU) between CertiK, the leading Web3 security services provider, and Lambda256, a blockchain technology subsidiary of
Falcon Finance has introduced fUSD, a fully reserved stablecoin issued by Anchorage Digital Bank and designed for institutional settlement, collateral, and treasury use. The product includes a rewards structure targeting about 3% annually for qualifying institutional holders. fUSD Offers Regulated Stablecoin With Monthly Rewards for Institutions Falcon Finance has unveiled fUSD, a stablecoin aimed at […]
