Search results for CFT
Crypto
U.S. CLARITY Act revised draft expected this week as ethics provision stalls ahead of Senate vote
The U.S. Senate may release a merged draft of the CLARITY Act, a broad bill to regulate crypto market structure, this week. Work to combine versions prepared by the Senate Banking and Agriculture committees is nearing completion, but negotiations continue over key provisions, including ethics rules and the scope of decentralized finance regulation. A floor vote timeline remains uncertain as lawmakers debate which digital asset intermediaries should face registration, surveillance and anti-money laundering obligations.
Crypto
BlackRock urges changes to GENIUS Act implementing rules amid differences with OCC
BlackRock has urged the U.S. Office of the Comptroller of the Currency to withdraw a provision that would cap tokenised assets at 20 percent of stablecoin reserve assets, saying the limit is unnecessary. It said reserve-asset risk should be judged by liquidity, maturity and credit quality, not whether assets are tokenised. BlackRock also asked for clarity on what qualifies as eligible reserves, including whether Treasury ETFs qualify, and proposed adjustments to diversification options in the draft rules.
Crypto
Pakistan opens banking to crypto operators, mandates customer fund segregation
Pakistan\'s central bank has allowed banks to open and maintain accounts for licensed virtual asset service providers, effectively ending a ban on crypto-related financial transactions in place since 2018. Banks must verify licences issued by the Pakistan Virtual Asset Regulatory Authority or accept a no-objection certificate for limited accounts. The rules require customer funds to be held separately in non-interest rupee accounts and strengthen anti-money laundering and counter-terrorism financing obligations.
