Anti-Money Laundering

Korea Justice Ministry to Start Tracking Crypto Transactions

31/01/2023

The “Virtual Currency Tracking System” will be launched as part of a new cloud system that will allow other agencies to leverage prosecutors’ investigative and forensics expertise.

Emerging Prudential Risks

US Fed Refuses Application by Crypto-focused Custodia Bank

31/01/2023

The Fed Board considers that Custodia’s business model and proposed focus on crypto-assets presented “significant safety and soundness risks”.

Market Abuse

Korea Probes Price Manipulation via Crypto Exchange Bithumb

31/01/2023

Bithumb offices were raided last week. The crypto exchange is not accused of misconduct, though it is under a separate probe for possible tax evasion.

Market Abuse

UPDATED – Citadel Securities Fined in Korea for ‘Disrupting Market Order’

31/01/2023

The case was the first in which the FSC imposed a penalty for market order disruptions as a result of high-frequency algorithmic trading.

Stablecoins

Moody’s is Developing a Scoring System for Stablecoins – Report

31/01/2023

The project, still in the early stages of development, will produce scores for up to 20 stablecoins based on reserve attestation quality.

Sustainable Finance

PBOC Extends Re-Lending Facilities to Support Green Transition

31/01/2023

Foreign-funded FIs will be allowed to use a re-lending facility designed to support carbon emission reductions. The facility is extended until end-2024.

Clearing & Post-Trade

JPX Starts Using Blockchain Tech to Settle Rubber Futures Deliveries

31/01/2023

The new system digitises delivery orders required for the physical delivery of rubber when futures contracts expire, thereby enhancing settlement efficiency.

Conduct, Culture & Accountability

SFC Fines Private Fund Adviser for Failing to Protect Investors’ Interest

31/01/2023

Cardinalasia Consulting and its responsible officer failed to ensure that the manager of the five private funds received appropriate advice.

Conduct, Culture & Accountability

Singapore Court Fines Whistleblower for Making False Claims

31/01/2023

The High Court found that the whistleblower did not act in good faith in a 2011 tip-off and ordered him to pay compensation to a director he accused of corrupt acts.