Argos KYC News & Insights
EU 5th Anti-Money Laundering Directives
BackgroundThe Fifth Anti-Money Laundering Directive, effective as of January 10, 2020 is part of the European Union’s effort to strengthen AML regulations.The 5th AMLD is… To enhance transparency by setting up publicly available registers for companies, trusts and...
The Year in Review and 2020 Regulatory Timelines
2019 has been an eventful year for the cryptocurrency industry and its regulators. A lot of laws and regulations regarding anti-money laundering have been introduced, and you might be wondering how they will impact your business in 2020. Here are a few things you...
U.S Treasury’s Financial Crimes Enforcement Network Calls for Beneficial Ownership Registry
During the corporate customer onboarding process, identifying the natural person who has the ultimate ownership of the company is a must. Retrieving ultimate beneficiary information is always the most time-consuming part in processing corporate KYC. Photo by U.S....
US Treasury- FinCEN “Anti-Money Laundering Regulations Also Apply to VASPs”
The United States Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco said that Virtual Asset Service Providers (VASPs) should abide by Anti-Money Laundering (AML) laws just like all other corporations. On Nov. 15, Reuters reported that Director...
New client announcement: ARGOS X Probit Exchange
ARGOS is excited to welcome a new client: Probit Exchange. Probit, a world-class trading engine offers one of the fastest processing capacities of 1,500,000 orders matching every second. With its enhanced security to protect virtual assets, Probit provides a...
FATF Evaluation Result: Updates on Jurisdictions with Strategic AML Deficiencies
On an ongoing basis, the FATF reviews and identifies jurisdictions that pose a risk to the international financial system. The FATF calls on the subject jurisdictions to implement action plans within the proposed timeframes and monitors them. At the FATF Plenary in...
SEC, FinCEN and CFTC issue 3-party joint statement on digital assets
Last week, the leaders of the Financial Crimes Enforcement Network (“FinCEN”), the Commodity Futures Trading Commission (“CFTC”), and the Securities and Exchange Commission (“SEC”) published a rare “Joint Statement on Activities Involving Digital Assets” to “remind...
IRS Releases Guidance on the Tax Treatment of Cryptocurrency
IRS Releases Guidance on the Tax Treatment of Cryptocurrency Crypto investors are receiving warning letters from the US IRS to pay their taxes. Now I Have to Pay Taxes on My Bitcoin Investment? The U.S. Internal Revenue Service (IRS) announced last July that it sent a...
New client announcement: ARGOS X SIBEX
ARGOS is delighted to welcome a new client: SIBEX, a Swiss peer-to-peer trading platform for professional traders. Located in Zug, the famous Swiss crypto valley, SIBEX provides instant access to a global network of professional traders, both individual and...