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ECCU Regulatory Oversight Committee Advisory on Fintech Operations

The Eastern Caribbean Currency Union (ECCU) Regulatory Oversight Committee (ROC) held its 20th Meeting on 3rd July 2018 in Basseterre, St. Kitts. The ROC comprises Regulators from each ECCU member territory, the Eastern Caribbean Central Bank (ECCB) and the Eastern Caribbean Securities Regulatory Commission (ECSRC).

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Bitcoin ATM Not Authorised by Regulators in ECCU

It has come to the attention of the Eastern Caribbean Central Bank (ECCB) and the Financial Services Regulatory Commission of St Kitts and Nevis (FSRC) that a Bitcoin ATM has been installed at a location in the Federation of St Kitts and Nevis. It is also our understanding that there are plans for the installation of similar machines in other locations in the Federation.

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ECCB Advisory on Fintech operations in the ECCU

The Eastern Caribbean Central Bank (ECCB) is aware of the emergence of several initiatives which compete directly with traditional financial services. These include but are not limited to: peer to peer lending, digital wallets, crowd funding ventures, crypto-assets and initial coin offerings (ICOs) in the Eastern Caribbean Currency Union (ECCU).

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CFATF Public Statement/ Notice of Exiting the Follow-Up Process- Georgetown,Guyana

On the 15th day of November 2017, the Caribbean Financial Action Task Force issued a public statement which highlighted the progress made by Haiti in improving its AML/CFT regime. Haiti was identified as a jurisdiction with strategic deficiencies and through significantly addressing its deficiencies, Haiti was allowed to exit the 3rd Round Follow-up Process. 

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FATF Public Statement – Valencia Spain – June 2017

On the 23rd day of June, 2017, the Financial Action Task Force (FATF) issued a Public Statement on the Democratic People’s Republic of Korea (DPRK) and called on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/TF) risks emanating from the DPRK.

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