Crypto / Digital Assets

Fintech / Regtech

HKMA, PBOC Enter Next Phase of e-CNY Technical Testing

By Editors | 11/09/2023

Hong Kong is expanding its technical testing to include more banks and testing the digital yuan wallet’s top-up function through FPS.

Enforcement

CFTC Penalises Three DeFi Operators for Offering Services Illegally

By Editors | 11/09/2023

Commissioner Summer Mersinger dissented with the orders saying the CFTC should instead be engaging with the public on these matters.

AML / KYC

FinCEN Issues Alert on “Pig Butchering” Scams

By Editors | 11/09/2023

FinCEN provides red flags to help in the identification of pig butchering activity so that FIs can report this activity and enable law enforcement to track down the perpetrators.

Crypto / Digital Assets

Hong Kong SFC Approves City’s First Real Estate STO

By Editors | 11/09/2023

Tykhe Capital Group will launch “Prince Token”, available only to professional investors. Subject to regulatory approval, the token will list on HKbitEX.

Fintech / Regtech

MAS to Exempt Some Market Operators from ACH/RCH Rules

By Editors | 10/09/2023

The exemption applies to platforms that provide services to facilitate trading and settlement, but don’t actually act as a central counterparty of clear or settle trades centrally.

Crypto / Digital Assets

Fourth Former FTX Executive Pleads Guilty to US Charges

By Editors | 10/09/2023

The former co-chief of FTX Bahamas pleaded guilty to making unlawful political donations and operating an illegal money-transmitting business.

Crypto / Digital Assets

CFTC Commissioner Urges Creation of Crypto Regulatory Sandbox

By Manesh Samtani | 10/09/2023

CFTC commissioner Caroline Pham said creating a pilot programme will enable the safe exploration of innovations involving crypto, digital assets, and tokenisation.

Crypto / Digital Assets

DeFi Unlikely to Be Used for Real-world Assets: BIS Paper

By Manesh Samtani | 10/09/2023

BIS paper examines the problems associated with oracles, which collect and disseminate data for use in DeFi smart contracts.

Crypto / Digital Assets

UK FCA Issues Guidance on New Crypto Advertising Rules

By Manesh Samtani | 10/09/2023

The FCA is “concerned” about crypto firms that have not engaged with it on the new advertising rules, which come into force next month.