AML / KYC

Japan Crypto Exchanges Ordered to Comply with Sanctions

17/03/2022

Fines up to JPY 1 million and up to three years’ imprisonment are specified for non-compliance with sanctions by crypto exchange platforms.

Fintech / Regtech

DTC, Hodlnaut Get In-Principle Approval for DPT Services in SG

17/03/2022

Digital Treasures Center enables merchants to accept crypto in payments. Hodlnaut offers cryptocurrency borrowing and lending services.

Securities / Derivatives

SSE and SZSE to Accept Listings of BSE Companies

17/03/2022

Companies listed on the Beijing Stock Exchange can transfer to the SSE’s STAR Market or the SZSE’s ChiNext board.

AML / KYC

SFC Fines Emperor Securities, Emperor Futures for AML Breaches

17/03/2022

Emperor processed third party fund transfers without validating the relationships between the clients and the third parties, or the reason for the transfers.

Capital / Liquidity

Japan to Further Delay Implementation of Basel III – Report

17/03/2022

Basel III implementation will be delayed until March 2024, due to the pandemic and the financial market turmoil caused by Russia’s invasion of Ukraine.

Crypto / Digital Assets

US Treasury Forms Educational Subgroup on Digital Assets

16/03/2022

The new subgroup will develop educational materials to help consumers make informed decisions about digital assets.

Enforcement

Taiwan FSC Penalises Shin Kong Over Governance, Control Failures

16/03/2022

Shin Kong Financial Holding executives were taking directions from the former group chairman, who was barred in 2020.

Enforcement

RBI Lifts Restrictions on Digital Product Launches at HDFC

16/03/2022

The restrictions were imposed in 2020 in response to multiple digital outages that impacted customers. HDFC is India’s largest private bank.

Crypto / Digital Assets

Thai SEC Revises Definitions for Institutional, HNW Investors

16/03/2022

Institutional investors will include those with the ability to analyse and absorb risks in complex and high-risk products, such as VC and PE firms, investment analysts, and company directors.