Reporting ‘limited progress,’ FATF urges countries to introduce legislation for travel rule

“Countries that have not introduced Travel Rule legislation should do so as soon as possible, and FATF jurisdictions should lead by example," said the organization. The Financial Action Task Force (FATF) reported that 11 out of 98 responding jurisdictions have started enforcing its standards on Combating the Financing of Terrorism, or CFT, and Anti-Money Laundering, or AML.In an update released Thursday on the “Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers,” the FATF reported the “vast majority” of jurisdictions assessed by the organization’s Global Network since June 2021 “still require major or moderate improvement” in AML/CFT compliance in accordance with the travel rule.

Samsung and XOXO – New Partnership Setting High Standards in the NFT World

[PRESS RELEASE – Please Read Disclaimer] If you thought cryptography and the NFT worlds are merely a passing trend only for geeks and millennials, you probably haven’t heard the latest news in the industry.

Samsung and XOXO- A partnership setting new standards in the NFT world

If you thought cryptography and the NFT worlds are merely a passing trend only for geeks and millennials, you probably haven’t heard the latest news in the industry. When a conglomerate joins NFTThe post Samsung and XOXO- A partnership setting new standards in the NFT world appeared first on AMBCrypto.

400+ Crypto Advertisements Violate Guidelines in India — ‘Some Influencers Talk About Crypto Without Understanding It’

The Advertising Standards Council of India (ASCI) has reportedly revealed that more than 400 crypto ads violated its guidelines so far this year.

Tencent Launches Extended Reality Unit to Tackle the Metaverse Market

Tencent, the Chinese technology and entertainment giant, announced the creation of its own metaverse-driven division.

Can the formation of this Metaverse coalition finally do the trick for SAND, MANA

Leading tech companies including Microsoft, Nvidia, Meta, and Sony have come together with 31 other organizations to establish a Metaverse Standards Forum.

Saddle․Finance Creates New Standards for DeFi Trading

DeFi is a sub-sector in the crypto industry that has witnessed significant innovation since its inception.

Meta, Microsoft, and Others Launch Metaverse Standards Group

Meta, Microsoft, and 31 more companies have united to form an organization to promote the creation of open standards regarding metaverse tech.

Meta set to begin testing NFTs on Instagram Stories with SparkAR

Earlier this week, Meta also announced it would join with other tech companies to create a metaverse standards body. Instagram's parent company Meta announced Wednesday that it will begin testing NFTs on Instagram Stories using its augmented reality platform SparkAR.CEO Mark Zuckerberg said of the announcement, “We're expanding our test so more creators around the world can display their NFTs on Instagram.” The company also mentioned in a recent article,  "Creators and collectors will be able to share their digital collectibles across Facebook and Instagram after we begin rolling out the feature on Facebook with select US creators at a later date.” Zuckerberg confirmed that Facebook is set to support NFTs in the future:“We'll bring this feature to Facebook soon too -- starting with a small group of US creators -- so people can cross-post on Instagram and Facebook.

Stablecoins highlight 'structural fragilities' of crypto — Federal Reserve

“Stablecoins that are not backed by safe and sufficiently liquid assets and are not subject to appropriate regulatory standards create risks to investors," said the Fed report. The Federal Reserve’s board of governors pointed to stablecoins as a potential risk to financial stability amid a volatile crypto market.In its Monetary Policy Report released on Friday, the board of governors of the Federal Reserve System said “the collapse in the value of certain stablecoins” — likely referring to TerraUSD (UST) becoming unpegged from the United States dollar in May — in addition to “recent strains” in the digital asset market suggested “structural fragilities.” The government department pointed to the President’s Working Group on Financial Markets report from November 2021, in which officials said legislation was "urgently needed" to address financial risks.“Stablecoins that are not backed by safe and sufficiently liquid assets and are not subject to appropriate regulatory standards create risks to investors and potentially to the financial system, including susceptibility to potentially destabilizing runs,” said the Fed report.

Binance sets high standards for AML and KYC with their user-first approach

With cryptocurrencies slowly gaining momentum and going mainstream, it has become important for key industry participants in the crypto space to make sure that crypto transactions are not being used fThe post Binance sets high standards for AML and KYC with their user-first approach appeared first on AMBCrypto.

SEC Chair Says Lummis-Gillibrand Bill Could ‘Undermine’ Market Protections

The legislation bill provides a framework that develops clear standards and defines appropriate jurisdictional boundaries.

Binance Australia CEO: regulations will establish higher standards in crypto

Leigh Travers feels that a change in Australia’s government will slow down work on crypto regulations that could prove that the industry is already operating at a higher level than traditional finance. As the struggle for regulatory clarity down under rages on, Binance Australia’s CEO Leigh Travers thinks that such a framework will prove the crypto industry “holds itself to a higher standard” than many believe.Travers spoke with Cointelegraph on June 14 about the current state of local crypto regulatory efforts and how the opportunities available in the industry are restricted by the lack of clarity.

Is there really enough 'Helium' to send HNT's price soaring

The Helium Network [HNT] is a decentralized wireless network built around an open-source and standards-compliant wireless network protocol (WHIP) on a purpose-built blockchain.