CRYPTO / DIGITAL ASSETS

AML / KYC

US Treasury Facing 2nd Lawsuit Over Tornado Cash Sanctions

By Editors | 14/10/2022

Think tank Coin Center argues that the Tornado Cash sanctions harm US citizens and their ability to transact privately using the Ethereum network.

Crypto / Digital Assets

BNY Mellon Launches Digital Asset Custody Platform

By Editors | 13/10/2022

BNY Mellon is the first systemically important US bank to launch a crypto custody platform, leveraging technology from Fireblocks and Chainalysis.

Crypto / Digital Assets

Coinbase, Blockchain.com Win In-principle Approval in Singapore

By Editors | 12/10/2022

MAS has granted in-principle approval to Coinbase and Blockchain.com. Currently, nine firms have full licences to offer regulated crypto services in Singapore.

Market Infrastructure

FSB Updates G20 on Work to Strengthen Financial System Resilience

By Editors | 12/10/2022

FSB chair Klaas Knot says the outlook for global financial stability remains challenging, citing tighter financial conditions and higher inflation.

AML / KYC

US Treasury Penalises Crypto Exchange Bittrex $29mn

By Editors | 12/10/2022

OFAC and FinCEN took joint action for sanctions screening failures and violations of AML and SAR reporting requirements.

Market Infrastructure

FSB Unveils Proposed Global Regulatory Framework for Crypto

By Editors | 12/10/2022

The framework covers all crypto-asset activity, as well as associated issuers and service providers, that have the potential to pose financial stability risks.

Crypto / Digital Assets

OECD Releases Tax Transparency Framework for Crypto

By Manesh Samtani | 11/10/2022

Indirect investments in crypto assets via derivatives and investment vehicles, as well as CBDCs, will be covered by CRS, rather than CARF.

AML / KYC

HK Victims Have Lost HKD 2.6 billion to Scams This Year

By Editors | 10/10/2022

Online investment fraud accounted for HKD 540 million of all online scams, which is largely attributed to an increase in crypto-related scams.

Crypto / Digital Assets

Binance Suffers Crypto Hack, But Contains Losses

By Editors | 10/10/2022

After managing to freeze the majority of the stolen assets, Binance said about $100mn in unrecovered funds remains, out of $570mn that was initially stolen.