Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
AMLD5
Digital Payment Token (DPT) Updated to Singapore’s Regulatory Framework
Singapore passed the Payment Services Act 2019 (PSA) in January 2019, and an announcement on January 28th revealed an update to the Acts. This update is called the Digital Payment Token (DPT) and includes services that cover cryptocurrency and exchange based in Singapore. This update is under the already implemented anti-money laundering (AML) and the counter-terrorist financing (CTF) rules. In this case, crypto-related businesses have to register first and then apply for a license to operate. The Fifth European Anti-Money…
5 years ago
Crypto Companies Dissolving Upon the EU Money-Laundering Regulations
Simplecoin, Chopcoin, and Bottle Pay are among the crypto companies dissolving upon the EU money-laundering regulations. These regulations will take effect from the 10th of January 2020. Simplecoin is a crypto mining tool, while Chopcoin is a bitcoin gaming platform. A notice on Simplecoin's website says it will shut down on the 1st of January 2020. It is due to AMLD5 demanding its users to perform KYC for anti-money laundering, AML reasons, which will threaten users’ privacy. Bottle Pay, on…
5 years ago