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Cryptocurrency
Russia Already Using Bitcoin in Foreign Trade Transactions – Reports
30/12/2024
Russian Finance Minister said bitcoin is already being used in foreign trade transactions as part of a new “experimental regime”.

Structural Regulation
Hong Kong Gazettes Bill for New Company Re-domiciliation Regime
29/12/2024
The Bill to introduce the new company re-domiciliation regime will be introduced into the LegCo for first reading on 8 January 2025.

PEPs & Sanctions
US Commerce Dept Fines Materials Supplier for Exports to Russia
29/12/2024
Indium shipped solder materials used in electronics manufacturing to Russia on 11 occasions between April 2022 and March 2023

PEPs & Sanctions
EU Preparing Sanctions Over Attack on Undersea Power Cable
29/12/2024
Separately, Russia has declared a federal state of emergency in response to the ongoing oil spill in the Black Sea.

Anti-Money Laundering
OCC Issues Order Requiring BofA to Fix AML Deficiencies
28/12/2024
The order requires BofA to obtain OCC approval to launch new products or services that present high money laundering or sanctions risk.

Anti-Money Laundering
1MDB Files Suit Against Corporate Service Provider Amicorp
28/12/2024
1MDB alleges HK-headquartered Amicorp used shell companies and fraudulent financial structures to facilitate the misappropriation of assets.

Anti-Money Laundering
AUSTRAC Publishes Unofficial “Future” Version of AML Act
28/12/2024
The document does not have legal effect but aims to help reporting entities understand the effect of the amendments passed in November.

Supervision & Enforcement
SFC Imposes Fine and Lifetime Ban Against Fund Manager
28/12/2024
The SFC said the former fund manager’s removal from the industry is “necessary to protect the investing public”.

Custody & Infrastructure
Thailand Grants Second Digital Asset Custodian Licence
28/12/2024
The digital asset custodian licence was granted to Rakkar, part of SCBX Group’s venture capital arm.

Reporting & Disclosures
SEBI Defers Key ESG Reporting Deadline by One Year
28/12/2024
The BRSR Core reporting deadline is deferred by one year until fiscal year 2025-2026 for value chain disclosures and assurance.
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