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Crypto
Solana unveils enterprise blockchain platform with Mastercard, Western Union among participants
Solana has unveiled an AI-based blockchain platform, with Mastercard, Western Union and Worldpay joining as early participants, The Block reported on March 24. The Solana Developer Platform supports development of on-chain products including real-world asset tokenisation and payment technology. Mastercard plans to use it to expand stablecoin operations and support stablecoin payments directly on the Solana network. The platform offers APIs for tokenisation, payments and trading, and includes infrastructure partners providing custody, compliance and on-ramping.
Crypto
FATF warns offshore crypto firms could facilitate money laundering, sanctions evasion
The Financial Action Task Force has warned that offshore crypto service providers could facilitate illicit finance such as money laundering and sanctions evasion, Cointelegraph reported. FATF said offshore firms can exploit regulatory differences to avoid supervision and undermine anti-money laundering and counter-terrorism financing rules, citing multinational operating models. It urged countries to tighten oversight of offshore crypto firms serving their markets, strengthen registration and licensing requirements, and expand cross-border cooperation.
Crypto
FATF warns stablecoins could be used to evade sanctions
The Financial Action Task Force warned in a new report that peer-to-peer stablecoin trading and self-custody wallets create regulatory blind spots and require stronger oversight, Cointelegraph reported on Tuesday. FATF said broader stablecoin use in financial transactions, payments and cross-border remittances raises the risk of bypassing anti-money laundering rules. It called for enhanced monitoring and clear AML duties for entities issuing and distributing stablecoins.
