Friday, 12 July 2019
Canada's Crypto Exchanges Must Now Register as MSBs, Report Transactions Over $10K
Canada has updated its anti-money laundering rules, making changes that will affect cryptocurrency exchange operations in the country.
The rules now class both Canadian and foreign crypto platforms as money servicing businesses (MSBs), which must "fulfil all obligations, including implementing a full compliance program and registering with FINTRAC [the Financial Transactions and Reports Analysis Centre of Canada]."
Are Biometrics the Final Word in Preventing Aid Diversion?
In June, the World Food Programme threatened to suspend the distribution of food aid unless Houthi leaders agreed to the use of biometric technology to prevent diversion. This developing situation has focused fresh humanitarian attention on biometrics - and technology more generally - as a means to prevent fraud.
Link: Probono Australia
Apple Pay Support for Hong Kong's Octopus Transit Card Coming Later This Year
It's confirmed, the much-rumoured Apple Pay support for Hong Kong's Octopus transit card system is coming later this year. It was first rumoured last month that support would come alongside the release of iOS 13.
EU Central Bank Says Crypto Isn't Currency
The European Central Bank (ECB) opened up about cryptocurrency and said it wouldn't recognize it as an actual currency, according to reports. The bank also said it didn't have any plans to put bitcoin into its reserves.
EPSM Recommends Harmonised Migration Plans on PSD2-SCA
The EPSM (The European Trade Association) has made clear that rolling out SCA-compliant solutions to merchants poses major challenges. To avoid significant acceptance disruptions, EPSM recommends that all regions should agree an additional timeframe of 18 months for standard applications, as well as up to 36 months for challenging applications, such as those in the travel and hospitality sector.
Link: EPSM Press Release
No Money to Pay Investors, KZN 'Bitcoin' Scheme says it was Hacked
Bitcoin Wallet, the investment scheme that took Ladysmith by storm, promising 100 percent returns on monetary deposits in only 15 working days, said on Tuesday that it was "hacked" and investors' monies had been paid into fraudulent accounts after it decided to trade online.
Link: The Citizen
As a subscriber to Smart Card News we currently send you the latest industry news together with carefully selected industry events and updates.
We do not share your data with any third parties. However, due to changes in the law (GDPR) from May 2018, we need to confirm you are happy for us to continue to hold your details. If you DO NOT wish to continue to receive mailings from us you can unsubscribe at any time by:- emailing us at firstname.lastname@example.org or click Unsubscribe
Please note, if you do not unsubscribe, we will take that as confirmation that you are happy to receive future mailings from us.
Smart Card News Limited, Gratwicke House, 10 East Street, Littlehampton, West Sussex, BN17 6AW, Registered in England 2728296.
From time to time, this news service may include industry forecasts and forward looking statements made by the companies concerned. Readers should be advised that Smart Card News Ltd cannot be held responsible for decisions and/or actions taken by readers of our news service, based on the information provided. This news is only to be distributed to persons/companies who have a contract with Smart Card News Ltd. Unless your company has gained a licence and/or written permission from Smart Card News, the contents of this news page are not to be forwarded to any other person or server. Any replication by any means without prior permission is illegal and action may be taken. If you receive this online news from a forwarded source please contact the team at Smart Card News Ltd. It is illegal to replicate this online news.
Tel: +44 (0)1903 723 548