#cryptocurrencies

Today, the G20 countries unanimously approved a roadmap for regulating cryptocurrencies. This roadmap was proposed in a joint report by the International Monetary Fund (IMF) and the Financial Stability Board (FSB) last month.

NYDFS wants to increase transparency from cryptocurrency companies operating in the state, particularly in their processes for listing and delisting cryptocurrencies. The new framework will require firms to develop their coin-listing policies in three key areas: governance for the coin-listing process, risk assessments of coins, and procedures for monitoring coins. The framework will also require firms to provide detailed information on their criteria and decision-making process for delisting a coin. The proposed legislation is open for public comments and will remain so until October 20th.

In celebration of its 10th anniversary, hardware crypto wallet pioneer Trezor has released a range of new products. The lineup includes the Trezor Safe 3 wallet, designed to support over 7,000 cryptocurrencies.

Citing potential fraud risks, British banking titan Chase has chosen to halt cryptocurrency-related payments from October 16th. "If we think you're making a payment related to crypto assets, we'll decline it," was the message relayed to clients via email. The bank also emphasized that those intent on investing in cryptocurrencies have the liberty to switch to other banks or providers.

Singapore witnessed one of its largest crackdowns on money laundering last month. 400 police officers coordinated raids throughout the city-state, detaining 10 foreigners. These individuals allegedly were "laundering the proceeds of their overseas organised crime activities, including scams and online gambling". The seizures were significant, totaling $1.76 billion, with cryptocurrencies accounting for nearly $30 million. The operation also led to the confiscation of 68 gold ingots, 110 real estate holdings, and 62 cars. Sketches released provide a look at those under suspicion.