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Author: Wakanda Magazine
Wakanda 4.0 interviews Ashveen Gopee, the Managing Partner of Lex Frontier Law Firm, a member firm of the Alliott Global Alliance and a member of the Mauritius-Swiss Chambers of Commerce and Industries. W: The Cryptoverse Summit is coming at a time when the crypto market is highly bearish. Surely hearing about crypto is the last thing on people’s mind. What is your position on this? LF: Given that the state of the price of crypto assets is in your very first question, I will beg to differ that crypto is the last thing on people’s mind. In fact, this drop…
FATF has adopted international standards that would level the playing field for virtual asset service providers, including cryptocurrency providers, and traditional financial institutions. In response to heightened Money Laundering (ML)/Terrorism Financing (TF)/Proliferation Financing (PF) risks related to virtual assets, the FATF amended its Recommendation 15 – New Technologies to clarify that the FATF Anti-Money Laundering (AML)/Counter Terrorist Financing (CFT) Standards apply to virtual asset (VA) activities and virtual asset service providers (VASPs), including cryptocurrency providers. Despite the exit of the FATF Grey list and EU Black list, MIPA has continued its supervisory plan and ensured that the Accountancy sector is…
Digital transformation is not about technology at all, it’s about people “ Josh Bersin. Since people are the inventors of Change, the challenge however remains in implementing the digital transformation, strengthening the coordination framework, aligning policies and sector regulations for the need for massive scaling-up for investment and dedication of resources. As of 2021, TripleA estimated global crypto ownership rates at an average of 3.9%, with over 300 million crypto users worldwide. And over 18,000 businesses are already accepting cryptocurrency payments. To give further context 300 million is still not enough, that figure is just 3.8% of the world’s population…
The adoption of blockchain technology and use of cryptocurrency is going up and has gained huge momentum since a couple of years ago. The obvious solutions that both provide cannot be ignored from an ease-of-transaction perspective to helping in financial inclusion. The emergence and adoption of this new technology and means of digital payment surprised a lot of people, including Governments and Regulators who had to quickly react to design and implement regulatory frameworks to attempt to regulate and mitigate any money laundering risks associated with the use of the technology. Naturally, the need for compliance expertise boomed and with…