Market Infrastructure

China Starts Shutting Down Local Financial Asset Exchanges

29/03/2024

Local financial asset exchanges in Hunan, Liaoning, Xi’an and Chongqing have been closed, with regulators in other provinces and cities planning to do the same.

AML / KYC

Australian Senate Passes Digital Identity Bill

29/03/2024

The Bill will allow myGovID to be used by the private sector, and accredited private sector IDs to be used for some government services.

Crypto / Digital Assets

VSFG & Value Partners Apply to Launch Spot Bitcoin ETF

29/03/2024

VSFG is said to be “actively engaged” in discussions with the SFC on plans to potentially launch the new spot bitcoin ETF in May.

Sanctions

US, UK Announce New Sanctions Targeting Hamas Financing

29/03/2024

Two individuals and three entities were sanctioned by the US and UK for engaging in fundraising efforts to support Hamas.

AML / KYC

Wolfsberg Group Addresses Role of Internal Audit Function

29/03/2024

The Group offers a set of principles as guidance for the IA function to promote effective financial crime risk management within FIs.

Sanctions

US and South Korea Jointly Announce New DPRK Sanctions

29/03/2024

The US and South Korea also launched a new task force that will work to disrupt North Korean refined oil procurement networks.

Sanctions

Businesses Have Lost Over $100bn From Russia Exits – Report

28/03/2024

Russia has steadily tightened its exit requirements as sanctions pressure has ramped up. It now demands discounts of at least 50% on foreign asset sales.

Sanctions

Russia Buys its Own Diamonds to Support State-owned Alrosa

28/03/2024

The Russian government is for the first time in 15 years procuring diamonds from Alrosa, which has been targeted by sanctions.

Sanctions

US, UK Probing $20b in Tether Transfers to Russia’s Garantex – Report

28/03/2024

There is no immediate suggestion of wrongdoing by Tether Holdings, the BVI-incorporated issuer of USDT.