Cryptocurrency

New York Regulator Investigating Crypto Firm Gemini

01/02/2023

Gemini emphasised connections to the FDIC when customers asked if their assets were safe. Almost $1bn in customer assets have since been frozen on the platform.

Stablecoins

HKMA Confirms Plans to Introduce Stablecoin Regulations

01/02/2023

Stablecoins must be fully backed, redemption at par must be available at all times, and issuers must be licenced. Algorithmic stablecoins will not be accepted.

PEPs & Sanctions

Australia Sanctions Targets in Iran, Myanmar for Human Rights Abuses

01/02/2023

The Australian government also announced sanctions against individuals and entities in Myanmar and Iran for violence and human rights abuses against their people.

Anti-Money Laundering

FINTRAC Issues Guidance on Detecting Illegal Wildlife Trade

01/02/2023

The guidance provides money laundering indicators based on analysis of approximately 200 STRs related to illegal wildlife trade between 2011 and 2022.

Trading & Investment

Tokyo Financial Exchange to Launch TONA Derivatives on 20 March

31/01/2023

TFX will launch 3-month TONA futures and related options contracts. The 6-month Euroyen LIBOR futures and O/N Call Rate futures contracts will be delisted.

CBDCs

Bank Indonesia Consults on Wholesale CBDC Development

31/01/2023

The consultation paper covers access, issuance, redemption, funds transfer, technical aspects and implications for the financial system.

KYC & CDD

Westpac Fined in Hong Kong Over Delayed Customer Reviews

31/01/2023

Out of 143 customers who were subject to periodic reviews between June 2016 and May 2017, there were delays in 121 customers – of which 58 were of high risk.

PEPs & Sanctions

Australia’s Autonomous Sanctions Framework to Undergo Review

31/01/2023

The review will consider whether Australia’s Autonomous Sanctions Regulations and its associated instruments remain fit for purpose and how they can be made more efficient.

Anti-Money Laundering

Bankman-Fried Lawyers Request Access to Crypto Held by FTX

31/01/2023

The DOJ asked for a communications ban against Bankman-Fried as an additional bail condition. Last week, a 116-page list of the FTX’s creditors was filed to the bankruptcy court.