Fintech / Regtech

IOSCO to Develop Capacity Building Tool for Emerging Markets

09/03/2023

The so-called “MASI” tool will assist in self-assessments against the IOSCO core principles and facilitate comparisons against more developed regulatory frameworks.

Enforcement

HK Issues Record Fine Against Unlicensed Money Service Business

09/03/2023

A Hong Kong money changer and two directors were fined for operating a money service business before their licence application was approved.

Crypto / Digital Assets

Crypto Focused Bank Silvergate to Enter Into Liquidation

09/03/2023

Silvergate has served as one of the main banks for crypto companies. The wind down and liquidation plan includes full repayment of all deposits.

Crypto / Digital Assets

NYAG Files Lawsuit Against Crypto Platform KuCoin

09/03/2023

In a first by a US authority, the lawsuit claims that Ether is a security, meaning KuCoin was required to register as a securities broker or dealer.

Enforcement

ASIC Issues Stop Orders Against Interactive Brokers’ Securities Lending Product

09/03/2023

ASIC says Interactive Brokers inappropriately included investors in the target market that didn’t align with the features and risks of the product.

AML / KYC

Korea Customs: Crypto Involved in 70pc of Illicit Fund Flows in 2022

09/03/2023

The illicit crypto transactions were mostly aimed at purchasing foreign virtual assets with the intention of exploiting the so-called “Kimchi premium”.

ESG / Sustainability

Bursa Malaysia, LSEG to Launch Sustainability Reporting Platform

09/03/2023

At Invest Malaysia 2023, funding incentives for the Bursa Carbon Exchange were also announced, along with other initiatives to increase the vibrancy of the Malaysian capital market.

AML / KYC

RBI Fines Amazon Pay’s India Unit for Breaching Local Norms

09/03/2023

Local reports say Amazon Pay as well as other fintech players are being penalised for delays in migrating to video-based KYC.

Crypto / Digital Assets

Court Allows Binance.US to Buy Voyager Despite SEC Objection

09/03/2023

The court said the SEC’s objection was “vague”, that it failed to present any evidence, and that it should not have waited until the last minute to raise its concerns.