Crypto / Digital Assets

Crypto lender Genesis Agrees to $21m Settlement with US SEC

04/02/2024

Genesis will only have to pay the fine if it can fully repay customers and other claims in its bankruptcy, including general unsecured claims.

Sanctions

Taiwan Tightens Controls on Machine Tool Exports to Russia

04/02/2024

The penalty for first-time illegal exports to Russia has been increased and Russian company “I Machine Technology” was added to Taiwan’s entity list.

AML / KYC

Former Malaysian PM Receives Partial Royal Pardon

04/02/2024

Najib Razak was sentenced to jail and fined in 2020 over 1MDB-related corruption. His jail sentence was cut in half and his fine was reduced.

Fintech / Regtech

FSC Korea Unveils Rule Changes Targeting Cyber Resilience

04/02/2024

The revisions will make the existing rules simpler and less prescriptive, allowing financial firms more room to make decisions autonomously.

Sanctions

OFAC Sanctions Iranians Over Cyber Attacks on US Water Plants

03/02/2024

No critical services were disrupted in the attacks, but OFAC said the US is “deeply concerned” about attacks that target critical infrastructures.

AML / KYC

US DOJ Unseals More Charges in BTC-e Case

03/02/2024

Aliaksandr Klimenka faces 25 years in prison for operating unlicensed money services business and laundering criminal proceeds.

Enforcement

US OCC Fines RBC’s US Unit Over Risk Management Deficiencies

03/02/2024

A cease-and-desist order requires the bank to take “broad and comprehensive corrective actions” to improve its strategic planning and internal controls.

Enforcement

Taiwan: FSC Fines Taichung Bank Following Arrest of Chairman

03/02/2024

The bank’s chairman was detained for allegedly embezzling TWD 1 billion and later released on bail, with restrictions.

Securities / Derivatives

US Fed Tightens Policy on Personal Investments by Staff

02/02/2024

Under the new policy, staff can be directed to submit brokerage and transaction statements to verify financial disclosure accuracy.