Securities / Derivatives

SFC Publishes “Quick Reference” Licensing Guides

23/03/2023

The quick reference guides are intended to encourage more family offices and private equity businesses to operate in Hong Kong.

Crypto / Digital Assets

US Authorities Consider Taxing NFTs as Collectibles

23/03/2023

Under the US tax code, collectibles are subject to a 28% capital gains tax rate, compared to 20% for stocks, bonds and cryptocurrencies.

ESG / Sustainability

Malaysia to Launch Sustainability Reporting Platform in April

23/03/2023

UMW Corp and Maybank will be early adopters of the platform, which was developed by Bursa Malaysia in collaboration with LSEG.

Enforcement

US SEC Simultaneously Charges Crypto Founder, Eight Celebrities

23/03/2023

Tron founder Justin Sun sold unregistered securities to US investors, manipulated TRX and BTT markets, and paid celebrities to tout the offerings without disclosing their compensation.

Sanctions

US, UK, EU and Australia Target Iran With New Sanctions

22/03/2023

The sanctions were imposed for human rights abuses and violations as well as the production and supply of drones to Russia.

Crypto / Digital Assets

Stablecoin Reserves Should be Held at Central Banks: Circle

22/03/2023

Circle is seeking to be able to hold USD reserves with the Fed rather than with various financial partners. In the long run, a wholesale CBDC could be used.

Enforcement

Australia Jails Lawyer for 12 Years in Tax Fraud Case

22/03/2023

The lawyer allowed proceeds of crime to be received and transferred out of his legal practice’s trust account.

Korea Launches New Loan Facility for Vulnerable Borrowers

22/03/2023

The FSC said the new loan facility is being introduced to protect borrowers from illegal private finance and predatory lending.

AML / KYC

Philippine Agencies Sign Data Sharing Deal on Beneficial Ownership

22/03/2023

The agreement will allow the SEC to give competent authorities timely access to beneficial ownership information, in line with the FATF recommendations.