Crypto / Digital Assets

Crypto Founder Pleads Guilty for Defrauding Investor

28/08/2024

CluCoin founder Austin Michael Taylor used $1.14mn of investor funds at online casinos and “lost these investor funds to gambling”.

Enforcement

CFTC Fines BNY Mellon for Swap Reporting Failures

27/08/2024

The CFTC said BNY failed to properly report transactions, supervise its swap dealer business, and monitor staff communications.

Crypto / Digital Assets

Thai SEC Enhances Governance Standards for Crypto Firms

27/08/2024

Crypto firms must have at least five directors on their board, including two independent directors, and establish an audit committee.

AML / KYC

Former Vitol Trader Pleads Guilty to Bribery Scheme

27/08/2024

Javier Aguilar and co-conspirators paid $600,000 in bribes in 2018 to two senior Mexican officials to win contracts for Vitol.

Securities / Derivatives

CSRC Grants SHFE Approval to Launch New Options Contracts

27/08/2024

The Shanghai Futures Exchange has been granted approval to launch lead, nickel, tin and alumina options contracts.

AML / KYC

Thailand Extradites Crypto Fraud Suspect to China

27/08/2024

The Malaysian national is the first suspect to be sent from Thailand to China under an extradition treaty that took effect in 1999.

Fintech / Regtech

Five Groups Seeking Virtual Bank Licence in Thailand – Reports

27/08/2024

The applicants reportedly include a joint venture between Siam Commercial Bank, China’s WeBank and Korea’s KakaoBank.

AML / KYC

Taiwan Banks to Allow Companies to Open Accounts Digitally

26/08/2024

The FSC said banks should allow “all types” of non-individual clients to open digital deposit accounts, provided appropriate verification, controls and monitoring are in place.

FCA Chair Accused of Breaching Whistleblower Confidentiality

26/08/2024

FCA chair Ashley Alder reportedly forwarded a whistleblower’s correspondence to other staff members, revealing their identity without their consent.