Crypto / Digital Assets

Crypto / Digital Assets

Korea FSS Scrutinises Deposit Rates Paid by Crypto Exchanges

By Editors | 25/07/2024

The FSS determined that Bithumb’s proposal to pay 4 percent per annum on customer deposits was unreasonably high and did not comply with supervisory regulations.

Crypto / Digital Assets

MAS Grants In-Principle Approval to Digital Asset Custodian Hex Trust

By Ranamita Chakraborty | 25/07/2024

Hex Trust said the MPI license will allow it to offer regulated DPT services in Singapore, namely for custody and OTC trading of DPTs.

Crypto / Digital Assets

US Exchanges Commence Trading in First Spot Ether ETFs

By Editors | 24/07/2024

Nine ETFs saw $1.07bn worth of shares traded on the first day, resulting in net inflows of around $106.7mn.

Crypto / Digital Assets

BOK Amends Rules to Enable Data Collections from VASPs

By Manesh Samtani | 24/07/2024

VASPs will be required to submit business reports to BOK every quarter, as well as other information if requested by the central bank.

Crypto / Digital Assets

Emerging Markets Particularly Vulnerable to Stablecoin Risks: FSB

By Editors | 24/07/2024

New FSB report says EMDEs are particularly vulnerable to macro-financial risks associated with the use of foreign currency-pegged stablecoins.

Crypto / Digital Assets

Crypto Firm Gate.io Leaves Japanese Market to Comply With Law

By Thisanka Siripala | 24/07/2024

Gate.io said it has stopped opening new accounts for Japanese residents and will remove Japanese language support.

AML / KYC

US House Passes Bill to Combat Crypto-enabled Illicit Finance

By Nithya Subramanian | 23/07/2024

Under the bill, an independent financial technology working group will be established to examine illicit finance in the digital asset ecosystem.

Crypto / Digital Assets

Hong Kong Lists Asia’s First Inverse Bitcoin ETF

By Sanday Chongo Kabange | 23/07/2024

The new ETF was issued by CSOP Asset Management, which was also first to launch Asia’s first crypto futures ETFs in December 2022.

Crypto / Digital Assets

NBFI Vulnerabilities Remain Largely Unaddressed, Warns FSB

By Manesh Samtani | 22/07/2024

The global financial system remains susceptible to further shocks, the FSB says, calling for faster implementation of reforms to address NBFI vulnerabilities.