Myanmar’s Yangon Stock Exchange to Establish Blockchain-based Stock Exchange

Daiwa Securities Group, a Tokyo-based securities brokerage, will be working with Myanmar’s Yangon Stock Exchange (YSX) to establish a Blockchain-based stock exchange by integrating Daiwa’s equity trading into the Yangon exchange platform.  Daiwa and YSX are currently testing the Blockchain platform and are in discussions with government officials to fully…

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EU Proposal to Address Virtual Currency Exchanges & Wallet Providers in Anti-Money Laundering Laws

The European Commission recently published a proposal to amend the Fourth Anti-Money Laundering Directive, the legislation that specifies the anti-money laundering, or AML, and counter terrorist financing rules for EU Member States.  The proposal seeks to introduce stricter rules on the reporting and identification around the users of virtual currencies,…

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Ready for that Exam?

A critical but sometimes overlooked topic in the virtual currency world is the Bank Secrecy Act (“BSA”) examination for registered money service businesses.  Digital currency companies that meet the definition of an MSB must register and comply with the requirements of the BSA.  This includes the implementation of an effective…

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