CRYPTO / DIGITAL ASSETS

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    Enforcement

    Ex-OpenSea Manager Convicted for NFT Insider Trading Scheme

    By Editors | 05/05/2023

    Nathaniel Chastain chose which NFTs to feature on OpenSea’s home page and then covertly traded those NFTs, altogether making about $57,000 in profits.

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    AML / KYC

    Taiwan to Release New Rules for Crypto in September

    By Editors | 03/05/2023

    The FSC is creating a new bureau that will be dedicated to the crypto sector, adding to its four existing bureaus.

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    Crypto / Digital Assets

    OFAC Fines Crypto Firm Poloniex for 66,000 Sanctions Violations

    By Editors | 03/05/2023

    Poloniex allowed customers located in Crimea, Cuba, Iran, Sudan, and Syria to engage in online digital asset-related transactions worth $15.3mn.

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    AML / KYC

    SFC Chief Julia Leung Offers View Into 2023 Priorities

    By Manesh Samtani | 29/04/2023

    Julia Leung said the SFC will issue the new virtual assets rules in May, and that it developing a free carbon emissions calculator tool to help SMEs in climate-related reporting.

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    AML / KYC

    HKMA Offers Guidance on VASP Account Opening

    By Manesh Samtani | 28/04/2023

    Deputy chief Arthur Yuen said the HKMA expects regulated VASPs to be able to open a bank account in Hong Kong through a reasonable process.

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    Crypto / Digital Assets

    China to Start Using CBDC in Cross-Border Trade

    By Sanday Chongo Kabange | 28/04/2023

    Xuzhou will use the e-CNY for payment of Belt and Road trade costs; Changshu City will use it to pay civil servants.

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    Crypto / Digital Assets

    Korea’s New Crypto Bill Passes Key Legislative Subcommittee

    By Philip Gant | 28/04/2023

    The “Virtual Asset User Protection Bill” consolidates and reconciles 19 legislative proposals introduced over the two years since May 2021.

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    Enforcement

    Terra Co-Founder Daniel Shin Indicted in Korea

    By Editors | 27/04/2023

    Daniel Shin and nine others were indicted for their roles in the collapse of the Terra stablecoin which caused significant losses for investors.

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    Crypto / Digital Assets

    US Lawmakers Propose Another Draft Bill for Stablecoins

    By Editors | 26/04/2023

    New bill provides a narrower focus overall and gives state regulators more power to charter stablecoin issuers.

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    Capital / Liquidity

    New York Fed Tightens Rules on Access to Reverse Repo Facility

    By Editors | 26/04/2023

    The tighter requirements are said to be aimed at preventing stablecoin issuers from parking their reserves at the Fed.

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