Crypto / Digital Assets

NYDFS Sets Customer Service Standards for Crypto Firms

31/05/2024

New NYDFS guidance sets expectations for crypto firms regarding customer service, complaints response and resolution, and reporting.

AML / KYC

Swift Announces Industry Partnership to Combat Fraud With AI

31/05/2024

FIs will share data with privacy-preserving controls so that AI can be used to detect fraud patterns from a “much richer dataset”.

ESG / Sustainability

European Energy Exchange Establishes Japanese Subsidiary

31/05/2024

EEX said the subsidiary will help it reinforce its presence and strengthen ties with the local trading community and authorities.

Sanctions

China Announces Export Controls Targeting Aviation Parts

31/05/2024

From 1 July, a special licence from MOFCOM will be needed to export aviation and aerospace structural components and other items.

Crypto / Digital Assets

NYSE to Launch Cash-settled Bitcoin Index Options

31/05/2024

The options contracts will track the CoinDesk Bitcoin Price Index and are subject to regulatory approval.

Fintech / Regtech

Tencent Directed to Reduce WeChat Pay’s Market Share – Report

30/05/2024

Regulators reportedly directed Tencent to reduce WeChat Pay’s market share for in-person QR payments.

Enforcement

Chinese Court Hands Death Sentence to Former Huarong Official

30/05/2024

Bai Tianhui is the second Huarong official to receive a death sentence for corruption after Lai Xiaomin in 2021.

Crypto / Digital Assets

‘Gemini Earn’ Investors Secure Return of $2b in Crypto Assets

30/05/2024

Investors are receiving their digital assets “in kind”, meaning they benefit from crypto price increases since withdrawals were halted in January 2023.

Sanctions

HSBC Completes Sale of Russian Unit to Expobank

30/05/2024

The deal received approval in February but it has taken until now for the sale to be successfully concluded.