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It was a further wake up call for those involved in digital currencies, such as the most prominent, Bitcoin, that they need to comply with anti money laundering rules or risk facing a crackdown.They had already been put on notice first by an April 2012 report from the US Federal Bureau of Investigation that explained how Bitcoin was being used by criminals to secretly transfer money around the world, and then this March by the US Treasury Department. Its anti money laundering arm, the Financial Crimes and Enforcement Network (FinCEN) stated that digital currency firms needed to comply with the same anti money laundering rules as other financial institutions, including monitoring customers and reporting suspicious activity to the government.As regulators tighten the screws, businesses built around digital currencies are trying to satisfy new monitoring requirements without letting public enthusiasm for the technology based concept slip away.”I think the whole ecosystem is maturing very quickly and we have young companies that are just beginning to understand how to navigate the regulatory issues,” said David A. Johnston, co founder and executive director of BitAngels, a new venture which only this week announced it had raised $6.7 million to fund startups tied to Bitcoin.Digital currency is electronic money that can be passed between individuals without the use of the traditional banking or money transfer system.Different currencies are structured in different ways.
India is the world’s largest vaccine manufacturer, ahead of even China. The Pune based Serum Institute currently manufactures of 5,000 doses of Covishield per minute, which adds up to 50 million doses per month. By the end of March, this figure will go up by 30 per cent which translates to 65 million doses..
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The race for runner up between pro market candidate Guillermo Lasso and anti mining indigenous leader Yaku Perez was too close to call, with Perez ahead by less than one percentage point and manual recounts appearing likely. Officials said. Diplomat in Geneva will announce on Monday that Washington will return to the Geneva based body as an observer with an eye toward seeking election as a full member.