Crypto / Digital Assets

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    AML / KYC

    China to Amend AML Law to Address Virtual Asset Risks

    By Manesh Samtani | 01/02/2024

    Draft amendments bring virtual assets into scope. FIs would also be required to assess money laundering risks before adopting new technologies and launching new products.

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    AML / KYC

    UK Trial Commences in £5bn Bitcoin Money Laundering Case

    By Editors | 01/02/2024

    Woman is charged for laundering GBP 5 billion stolen from more than 128,000 investors in China on behalf of her former employer.

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    AML / KYC

    US Court Sentences Lawyer for “OneCoin” Fraud to 20 Years

    By Editors | 01/02/2024

    Mark Scott, formerly an equity partner at international law firm Locke Lord LLP, laundered $400mn of proceeds from the OneCoin fraud scheme.

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    Crypto / Digital Assets

    New Digital Assets Association Launches in Singapore

    By Ranamita Chakraborty | 01/02/2024

    The association will engage with regulators on behalf of the digital assets community through a regulatory sub-committee.

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    Crypto / Digital Assets

    Crypto Lender Celsius Network Emerges from Bankruptcy

    By Editors | 31/01/2024

    Celsius, which filed for bankruptcy in July 2022, has commenced distributions of over $3bn of crypto and fiat to creditors.

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    Crypto / Digital Assets

    UAE Completes First Cross-border Payment Using CBDC

    By Editors | 31/01/2024

    The transaction was sent to China through the “mBridge” platform, developed by the BIS Innovation Hub, HKMA, CBUAE, BOT, and PBOC.

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    Crypto / Digital Assets

    BOJ to Catalogue Legal Issues for CBDC by April

    By Editors | 31/01/2024

    BOJ and Ministry of Finance officials held a meeting to discuss the legal issues that need to be resolved for the issuance of a CBDC.

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    Big Picture

    BIS Research Reveals Role of Public Perception in Stablecoin Values

    By Ranamita Chakraborty | 31/01/2024

    New paper examines how public information shapes coordination risk among stablecoin holders in relation to their beliefs about peg stability.

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    Crypto / Digital Assets

    ESMA Consults on New Guidelines for MiCA Regime

    By Editors | 30/01/2024

    Third-country crypto firms will be prohibited from soliciting EU clients unless the client is the “exclusive initiator” of the crypto-asset service.

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    Crypto / Digital Assets

    Harvest Becomes First Hong Kong Applicant for Spot Bitcoin ETF

    By Manesh Samtani | 30/01/2024

    Harvest Global Investments has applied to list a spot Bitcoin ETF in Hong Kong, and also plans to participate in HKMA’s stablecoin sandbox.

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