Canadian blockchain regulatory compliance startup iComply Investor Services has hired a former Thomson Reuters executive Greg Pinn as its head of strategy, as he confirmed in communication with Cointelegraph June 3. Greg Pinn, who previously served as head of the corporation’s risk intelligence and financial crime screening platform, has already taken up the post. Launched in 2017, iComply seeks to leverage blockchain in order to improve adherence of industry businesses to know-your-customer (KYC) rules, which executives have claimed forms a weak link in the industry. The move marks the company’s second high-profile hire this year, with former US regulator Jeff …

Thailand's Securities and Exchange Commission (SEC) held a focus group on cryptocurrency regulation today, May 21, streamed on Facebook Live. The hearing focused on the SEC’s approach to crypto-related businesses and fundraising through Initial Coin Offerings (ICO), local news outlet Siam Blockchain reports. Today’s focus group clarified that ICOs can only raise funds in the Thai baht and cryptocurrencies permitted by the SEC – those that “have enough liquidity and are not associated with money laundering.” Projects running ICOs, whose applications must be completed in 60 days, will also need to adhere to KYC and AML standards. Siam Blockchain also …

Two of Australia's "big four banks," Westpac Banking Corporation and the Australia and New Zealand Bank Group (ANZ), are trialing Ripple payments for faster and lower-cost cross-border payments. Westpac, which is ahead of ANZ in its intention of integrating Ripple, said it is in the early stages of a proof-of-concept where staff members are testing the system by making small international payments to other countries. Speaking with the Australian Financial Review, Rachel Slade, general manager of global transactional services at Westpac, said that Westpac has been satisfied by the experiment so far noting that integrating Ripple would allow the bank …

The United States' Financial Crimes Enforcement Network (FinCEN) has announced it is working to investigate a string of digital currency businesses, assessing whether they meet financial regulations for the sector. Announcing the bureau's latest activity was director Jennifer Calvery, speaking at the West Coast AML (Anti Money Laundering) Forum in San Francisco May 6. The three-day event is a chance for federal and state regulators to meet with the government's investigative agencies and other qualified consultants. In her opening speech to the forum Calvery gave top billing to her department’s efforts to investigate potential regulatory violations in the virtual currency …

Having filed its registration application in New York, ItBit is looking to become the first regulated Bitcoin bank in America. ItBit, a digital currency exchange operationally based in Singapore and with a head office in New York, looks to become the first officially regulated Bitcoin bank as they look to expand their service offering. The move would allow the company to legitimately take on a more traditional banking service role while meeting relevant legal requirements. According to Reuters, people privy to the matter expect that the application could be approved “in the next couple weeks.” The exchange appears ready to …