Crypto / Digital Assets

Crypto / Digital Assets

Chinese Authorities Dismantle $2.2b Underground Banking Operation

By Editors | 27/12/2023

The operation involved the use of overseas crypto platforms to exchange foreign currency. 74 suspects were arrested and their electronic devices and bank cards seized.

Crypto / Digital Assets

Japan Approves Reforms to End Tax on Unrealised Crypto Gains

By Editors | 27/12/2023

Crypto assets issued by third party organisations can be held by corporations without being marked-to-market for taxation.

Crypto / Digital Assets

BOC Settles First Cross-border Precious Metals Trade Using e-CNY

By Editors | 26/12/2023

Bank of China transferred CNY 100 million in cash from an overseas buyer and deposited the funds as digital yuan at the Shanghai Gold Exchange.

Crypto / Digital Assets

Hong Kong SFC to Permit Listing of Spot Crypto ETFs

By Manesh Samtani | 23/12/2023

HKEX welcomed the SFC’s move, saying it will enhance Hong Kong’s role as a leading digital asset hub across the region.

Crypto / Digital Assets

FSC Korea Issues New Accounting Guidelines for Crypto Assets

By Manesh Samtani | 22/12/2023

Crypto exchanges that have control over customer assets must account for them separately as assets and liabilities.

Enforcement

HK SFC Issues Warning About More Suspicious VATPs

By Sanday Chongo Kabange | 21/12/2023

The SFC said the police have blocked the two platforms in Hong Kong over suspected fraudulent activities related to virtual assets.

Securities / Derivatives

CFTC Proposes Rules on Operational Resilience, Funds Segregation

By Editors | 20/12/2023

The CFTC also granted DCO registration to a crypto derivatives exchange and brokerage, allowing it to act as its own clearinghouse.

Crypto / Digital Assets

UK to Launch Digital Securities Sandbox on 8 Jan 2024

By Editors | 20/12/2023

The sandbox will allow FMIs to test the use of new technology including DLT to operate trading venues and perform CSD activities.

ESG / Sustainability

Global Consortium to Set-up Circular Tokenised Sustainable Impact Fund

By Nithya Subramanian | 20/12/2023

The SEE fund will be an auditable SDG-focussed fund with an embedded penalty mechanism built into its governance structure.