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Crypto / Digital Assets
MAS Explains Different Treatment of Binance, FTX
By Sanday Chongo Kabange | 23/11/2022
While both Binance and FTX are not licensed Singapore, only Binance was “actively soliciting users” in Singapore, so it was added to the Investor Alert List.
Press Release
Regulation Asia Awards for Excellence 2022 – Results Announcement
By Editors | 23/11/2022
Regulation Asia held its fifth annual Awards ceremony on 22 November 2022. Here we explain our methodology and announce the winners for the year.
Crypto / Digital Assets
FTX’s “Complete Failure” of Corporate Controls, Worse Than Enron
By Manesh Samtani | 18/11/2022
Restructuring specialist John J Ray says FTX’s failure is the worst he has ever seen, citing control failures and the “complete absence” of trustworthy financial information.
Crypto / Digital Assets
NYIC, US Banks Launch PoC to Test Digital Money Platform
By Editors | 17/11/2022
Participants include BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, TD Bank, Truist, US Bank, Wells Fargo, SETL, Digital Asset, AWS, SWIFT, Sullivan & Cromwell, and Deloitte.
Crypto / Digital Assets
Korea FSS to Issue Accounting Guidelines for Crypto Firms
By Editors | 17/11/2022
The current accounting system in Korea does not provide options for companies dealing in crypto.
Crypto / Digital Assets
ISDA to Publish Draft Standards for Crypto Derivatives by Year End
By Manesh Samtani | 15/11/2022
ISDA will also consider developing collateral documentation for OTC crypto derivatives transactions and standard contracts for crypto swaps and physically-settled transactions.
Crypto / Digital Assets
Singapore and Hong Kong Regulators Address FTX Queries
By Editors | 15/11/2022
MAS said FTX is neither licensed nor exempt from licensing in Singapore. Hong Kong’s SFC said licensed fund managers’ exposure to FTX is “immaterial”.
Crypto / Digital Assets
EU Parliament Adopts DORA Text, Enforcement Expected in 2025
By Editors | 14/11/2022
New requirements on network and information system security will apply to all financial system participants, including crypto firms and cloud services providers.
Crypto / Digital Assets
BISIH to Tackle Key CBDC Challenges with Project Tourbillon
By Editors | 14/11/2022
Project Tourbillon aims to reconcile trade-offs between cyber resiliency, scalability, and privacy through experimentation with a prototype CBDC.
Crypto / Digital Assets
FTX Bankruptcy, Secret Transfers, and Regulatory Probes
By Manesh Samtani | 14/11/2022
FTX files for Chapter 11 bankruptcy protection in Delaware as regulators in multiple jurisdictions investigate allegations of illegal activity.
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