Crypto / Digital Assets

Tether’s Excess Stablecoin Reserves Reach All-time High

15/05/2023

Tether has $81.8bn in consolidated total assets, exceeding its $79.4bn in liabilities. Excess reserves held in gold and bitcoin were published for the first time.

Capital / Liquidity

G7 Leaders Pledge to Maintain Resilience of Global Financial System

15/05/2023

The G7 communique vows stepped-up sanctions enforcement, and readiness to act on financial stability, climate change, and crypto-asset activities.

Enforcement

Thai Couple Sentenced to 12,000+ Year Jail Term Over Ponzi Scheme

15/05/2023

Husband and wife are expected to be in prison for 20 years each, because of a law that limits total jail time.

Sanctions

OFAC Makes Structural Changes to Minimise Collateral Damage of Sanctions

15/05/2023

OFAC hired a chief sanctions economist to lead a new division that will assess the potential collateral economic effects of proposed sanctions.

Crypto / Digital Assets

AIMA Publishes New Guide on Digital Asset Trading

15/05/2023

The guide provides an overview of the digital asset trading ecosystem and highlights key risk management considerations for institutional investors.

Enforcement

Australia, New Zealand to Jointly Investigate Data Breach

15/05/2023

The probe into Latitude’s data breach is the first joint privacy investigation by Australia and New Zealand authorities.

Sanctions

US DOJ Approves First Transfer of Seized Russian Funds to Ukraine

15/05/2023

“While this represents the United States’ first transfer of forfeited Russian funds for the rebuilding of Ukraine, it will not be the last,” said Attorney General Merrick Garland.

Market Infrastructure

Banks Must Ensure LIBOR Transition Work is Complete: RBI

14/05/2023

No new transactions should be undertaken using USD LIBOR or MIFOR, and appropriate fallbacks must be in place in legacy contracts.

Securities / Derivatives

ICE Invites HK Firms to Trade Futures in Singapore

14/05/2023

ICE Clear Singapore received authorisation from the SFC allowing it to clear ICE Futures Singapore trades for Hong Kong-based clearing members.