Three news to start your week: August 21
UK to put magnifying glass on crypto transfers
(Wall Street Journal)
The UK's banking authority has issued new regulations requiring digital asset providers to gather and send data on cryptocurrency transfers as the nation puts into effect a law meant to prevent the movement of digital assets for illegal purposes.
The Travel Rule, a multicountry initiative intended at preventing illicit uses of digital assets like money laundering and terrorism financing, will be required of UK cryptocurrency operators starting on September 1, according to the country's Financial Conduct Authority.
However, the agency stated that under some circumstances, businesses can continue to transfer and receive digital assets from jurisdictions that haven't implemented the law.
Chile's President shakes up cabinet amid corruption probe
(Bloomberg)
Wednesday saw the third cabinet shuffle under President Gabriel Boric of Chile as allegations of corruption and low support ratings hamper efforts to pursue significant changes.
According to Boric, the government wants to take measures to "give us more security to go out into our public squares and streets, confront economic difficulties and live in a dignified way throughout our entire lives."
A few days prior, Giorgio Jackson, one of President Boric's closest allies, resigned as Minister of Social Development while investigators looked into payments between state organizations and foundations.
Aide to Madagascar leader accused of seeking bribe from UK gemstone miner
(Financial Times)
According to the National Crime Agency, the chief of staff for the president of Madagascar has been charged in the UK with bribery over an alleged approach to a gemstone mining firm.
Romy Andrianarisoa, the president's chief of staff, and Philippe Tabuteau, a friend of Andrianarisoa, were reportedly detained on Thursday on suspicion of soliciting bribes from UK mining company Gemfields in exchange for permits in the island nation, according to the NCA.
The NCA claims that Andrianarisoa, 46, and Tabuteau, a 54-year-old French national, are accused of attempting to obtain bribes totaling about £225,000 as well as a 5% ownership stake in any projects that Gemfields might undertake in Madagascar.
