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Crypto / Digital Assets
US Lawmakers Introduce AML/CFT Bill for Crypto Firms
By Mark Johnston | 19/12/2022
The bill would categorise all crypto firms as money transfer businesses, requiring them to implement AML programmes and prohibiting the use of crypto mixers.
Capital / Liquidity
Basel Rules for Cryptoassets to Take Effect in Jan 2025
By Manesh Samtani | 19/12/2022
1,250% risk weight not applicable to custodied assets. Infrastructure risk add-on no longer mandatory. Gross limit on total Group 2 exposures raised from 1% to 2%.
Crypto / Digital Assets
BOK Seeks Legal Authority to Regulate Stablecoins
By Editors | 17/12/2022
BOK says stablecoins pegged to foreign currencies should be subject to foreign exchange laws, while those pegged to the Korean won should fall under the central bank’s regulatory remit.
Crypto / Digital Assets
Ant Group Embeds e-CNY Processing in Alipay Digital Wallet
By Editors | 17/12/2022
The integration of third party payments platforms is expected to boost e-CNY adoption while preventing the displacement of existing players in China’s payments sector.
Crypto / Digital Assets
Australia Seeks Input on Strategic Plan for Payments System
By Manesh Samtani | 15/12/2022
The government will also empower the RBA to regulate digital wallet providers and improve the regulatory framework for crypto service providers.
Crypto / Digital Assets
Hong Kong to List First Crypto Futures ETFs on 16 Dec
By Editors | 15/12/2022
The ETFs are being launched by CSOP Asset Management, one linked to Bitcoin futures and the other to Ether futures traded on the CME.
Fintech / Regtech
HashKey, ZA International to Cooperate on Digital Assets
By Editors | 14/12/2022
The two groups will cooperate on digital assets, Web3 and DLT. ZA International recently unveiled plans to tokenise its ZA Coin.
AML / KYC
FTX Founder Arrested, Charged by SEC, SDNY, CFTC
By Sanday Chongo Kabange | 14/12/2022
US authorities have charged Sam Bankman-Fried for defrauding customers, investors, lenders, and campaign finance violations.
Crypto / Digital Assets
SFC Issues Fresh Warning About Virtual Asset Risks
By Editors | 14/12/2022
The SFC warns that virtual asset platforms may on-lend customer assets or them in investment or other activities, which could potentially lead to a “total loss”.
Crypto / Digital Assets
US SEC Directs Issuers to Detail Exposures to Crypto and Related Impacts
By Editors | 13/12/2022
Separately, US senators asked banking regulators to provide details on banks that have engaged in crypto-related services.
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