📣📣 COIN BUREAU NEWSFLASH! – (01/06/23)
Here are some of today’s most important headlines:
1️⃣ UAE Central Bank Issues AML/CFT Guidance for Crypto
The Central Bank of the United Arab Emirates (CBUAE) has reportedly issued new guidance concerning AML and CFT measures for crypto businesses. The rules are expected to come into effect in one month and will require Licensed Financial Institutions (LFIs) engaging with crypto in the UAE to verify the identities of all their customers.
Under the guidance, LFIs should submit a request to the central bank for non-objection to open accounts for each VASP on a case-by-case basis. Any collaboration with VASPs without a national license is prohibited.
His Excellency Khaled Mohamed Balama, Governor of the CBUAE, stated,
“We are constantly working to enhance efforts and strengthen the awareness of licensed financial institutions to prevent all kinds of financial crime activities, and reduce potential risks to protect the financial and monetary system and maintain its soundness and stability, in line with the Financial Action Task Force standards.”https://www.theblock.co/post/232662/uae-central-bank-issues-aml-cft-guidance-for-crypto
2️⃣ Binance To Delist Privacy Tokens in France, Italy, Spain and Poland
Starting from June 26, crypto exchange Binance is reportedly delisting privacy tokens, such as Monero and Zcash, for Binance customers in France, Italy, Poland and Spain. The exchange cited local regulatory requirements as the reason behind the move.
The new restrictions reportedly affect a total of 12 privacy tokens- Decred (DCR), Dash (DASH), Zcash (ZEC), Horizen (ZEN), PIVX (PIVX), Navcoin (NAV), Secret (SCRT), Verge (XVG), Firo (FIRO), Beam (BEAM), XMR and MobileCoin (MOB).https://cointelegraph.com/news/binance-to-delist-privacy-tokens-in-france-italy-spain-and-poland
3️⃣ Multichain Can't Find Its CEO as Company Loses Access to Its Servers
The team behind the cross-chain bridging protocol Multichain is reportedly suspending services for over 10 chains after being unable to contact its CEO, Zhaojun to obtain the necessary server access for maintenance. The affected chains include Kekchain, PublicMint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora and Planq. Notably, the team’s statement has also fueled the recent rumours that the protocol’s leadership may have been arrested in China amid its ongoing technical issues.https://decrypt.co/142997/multichain-cant-find-its-ceo-as-company-loses-access-to-its-servers
4️⃣ EU Formally Signs the Markets in Crypto-Assets Framework into Law
Yesterday, the European Union formally signed its landmark Markets in Crypto Assets (MiCA) regulation into law. The law, which aims to create a consistent regulatory framework for crypto assets among the EU member states, was signed by the European Parliament President Roberta Metsola and Swedish Rural Affairs Minister Peter Kullgren. The framework is expected to go into effect in a few weeks after being published in the Official Journal of the European Union. However, many of MiCA’s regulations on crypto firms will only take effect between 12 and 18 months later.https://www.coindesk.com/policy/2023/05/31/eu-formally-signs-new-crypto-licensing-money-laundering-rules-into-law
5️⃣ Binance Regularly Cuts Employees Who Aren’t ‘Strong Fits,’ Says Founder
Binance CEO Changpeng Zhao (CZ) has responded to recent reports about layoffs by calling it FUD. CZ stated that while the exchange is indeed firing people, it is apparently a regular occurrence as part of its “bottom out” program.