Kiffmeister’s Fintech Daily Digest 11/24/2019

~ kiffmeister

  • From unknown wallet to unknown wallet

    “How long will regulators allow pseudonymous usage of stablecoins to continue? FATF regulations are supposed to be technology-neutral. So far FATF hasn’t had much to say on stablecoins. But you can be sure that something is in the works, and it isn’t likely to be good for stablecoin operators. The problem is that granting permissioned-pseudonymity to stablecoin operators contradict technology-neutrality. It sets one set of standards for bank accounts and another for stablecoins.”

    tags: Fintech CryptoAssets Stablecoins AMLCFT

  • KYC in Stablecoins – Permissioned Pseudonymity

    Issuers of today’s fiat-backed stablecoins (such as PAX, USDC and TUSD) need to identify (or KYC) only those users who convert between bank account money and stablecoin, not all holders.”

    tags: Fintech CryptoAssets Stablecoins AMLCFT

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Published by kiffmeister

The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.