Blockchain
RACE-CAP™ Launches RACE-PAY™, the First of Its Digital Money Apps for Everyone
RACE-CAP Inc. (“RACE-CAP”), a global blockchain-based solutions developer, today announced the launch of RACE-PAY, the first of RACE-CAP’s apps designed to give the world easier access to digital money (“Money Apps”).
RACE-PAY will simplify the management of both traditional and digital currencies. It is intended to enable anyone with a bank account to send and receive funds, exchange money, and even make investments – all in one app – quickly and securely. The app will include the ability to send money within an internal chat window in addition to a news and information portal. Not all features will be available in the initial release, as RACE-CAP is committed to ensuring that it operates in compliance with regulations in the marketplaces it will serve. Additional features will be added as the product is systematically upgraded.
“The emerging world of digital money is difficult for most people to navigate,” says Arthur Davis, Chairman and CEO of RACE-CAP. “RACE-PAY starts to bridge the gap between the old and new economies.”
With its easy-to-use and intuitive interface, RACE-PAY helps people new to the leading digital currencies transition from traditional to digital assets, so they can participate in the fast-growing new financial reality.
RACE-CAP’s mission is to bring the performance advantages of blockchain technology to individuals and businesses everywhere, by creating global digital Money Apps and a proprietary network to power them.
“I founded RACE-CAP to empower everyone to achieve economic freedom through easy access to the blockchain technologies of the future, based on today’s digital economy,” said Arthur.
“Through the development of a suite of vertically integrated, desktop and mobile-based products and services, RACE-CAP intends to bring ‘Blockchain to Life’ and aims to set the standard in the blockchain-based digital asset industry.”
RACE-CAP welcomes everyone to register now at www.race-cap.com to be notified as soon as RACE-PAY becomes available for download from the Android and Apple App stores – and learn of other products and services as they become available.
SOURCE RACE-CAP
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Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
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