Crypto / Digital Assets

US Judge Skeptical of SEC Stance Against Coinbase

15/07/2023

In a pre-motion hearing, the judge suggested it was reasonable for Coinbase to think they were not breaking the law based on the SEC’s issuance of the S-1 form.

ESG / Sustainability

BSP Calls on Banks to Disclose ESG Impact of Assets

14/07/2023

The BSP is collaborating with scientists to develop a metric that will be used to score banks on their efforts to fight climate change.

AML / KYC

Euroclear Faces $2b Lawsuit from Russian Fund Manager

14/07/2023

Russian asset manager First AM says its lawsuit is intended to protect the rights and interests of clients whose assets were frozen.

Enforcement

Singapore Jails Four on False Trading, Deception Convictions

14/07/2023

The four were convicted for their involvement in a scheme to manipulate the price of Catalist-listed Koyo International between 2014 and 2016.

AML / KYC

Malaysia Arrests Former 1MDB Legal Counsel

14/07/2023

Jasmine Loo fled Malaysia in 2018 but is now willing to cooperate with Malaysian authorities on investigations.

Fintech / Regtech

Singapore Digital Banks Urge MAS to Lift Caps on Deposits

14/07/2023

Grab’s GSX Bank and  Sea’s MariBank say the deposit cap imposed on new digital banks is hindering their ability to expand and lend.

Crypto / Digital Assets

HDFC Bank Implements Interoperability between CBDC and UPI

13/07/2023

HDFC Bank customers with UPI IDs can use the QR code at retail shops to transfer funds directly from their CBDC wallets.

AML / KYC

Australian Banks Push Back on Mandatory Scam Reimbursements

13/07/2023

CBA deputy CEO David Cohen warned of a “moral hazard trap”. ANZ CEO Shayne Elliott said the UK voluntary code model wouldn’t stop scams.

AML / KYC

SEC Settles Charges Against Merrill Lynch for Failing to File SARs

13/07/2023

Merrill Lynch did not file hundreds of mandatory SARs because it erroneously used a $25,000 threshold instead of the required $5,000 threshold.