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Regulators are not on the same page when it comes to applying the “Travel Rule” to digital assets. That’s stifling growth in the crypto industry and opening the door to bad actors.
On January 7th of this year, the value of the cryptocurrency market surpassed USD$1 trillion for the first time ever. Six weeks later on February 19, bitcoin, perhaps the best-known cryptocurrency, exceeded the USD$1 trillion mark on its own.
The remarkable speculation of crypto markets is not surprising given the strong inroads digital assets have made into domains once exclusive to fiat currency. Today bitcoin (and other popular cryptos, such as ethereum, ripple, and tether) are increasingly accepted as payment for a variety of products and services or as means to execute intra- and cross-border currency transfers. Retail banks are testing cryptos as an exchange method and as an asset class offered to their customers, while a growing n
Anti-money laundering: Cayman is held to a higher standard
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Cayman Islands update: Virtual asset service provider regime | The Lawyer | Legal insight, benchmarking data and jobs
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