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AML / KYC
UK: Most Crypto Firms Simply Withdrew Their FCA Applications
By Mark Johnston | 26/07/2022
The FCA approved 35 crypto firms out of 273 that applied for registration with the FCA under AML regulations.
Crypto / Digital Assets
WEF Consortium Assesses Macro Impact of Crypto, Stablecoins
By Editors | 26/07/2022
Allowing crypto and stablecoins to play a role in the economy will bring the “highest macroeconomic net benefit to society”, the research finds.
AML / KYC
UK Requires Crypto Firms to Report Sanctions Breaches
By Editors | 26/07/2022
New regulations will require crypto exchanges and wallet providers to comply with OFSI’s reporting obligations from 30 August 2022.
Enforcement
Korea: Terra Investigators Seize Records from Crypto Firms
By Editors | 26/07/2022
Prosecutors have seized transaction records from seven crypto exchanges and some of their affiliates as part of a probe into Terra’s collapse.
Crypto / Digital Assets
US SEC Plans to Require Registration from Crypto Lending Firms
By Mark Johnston | 26/07/2022
SEC Chair Gary Gensler said many crypto lenders operate investment companies or banks, and that they should have to be registered under securities law.
Crypto / Digital Assets
South Korea Deferred Crypto Tax Plans Two Years
By Editors | 25/07/2022
The plan to tax crypto was deferred due to stagnant market conditions and a desire to first improve investor protections in the crypto sector.
Crypto / Digital Assets
Hong Kong as a Legal Centre of Excellence for Digital Finance
By Troy Song | 25/07/2022
Many crypto exchanges and institutions already choose Hong Kong as the place to resolve their disputes, but more need to be done, says Troy Song.
Crypto / Digital Assets
US DOJ Charges Ex-Coinbase Employee for Insider Trading
By Manesh Samtani | 25/07/2022
A former Coinbase employee and two others were charged. The SEC’s parallel action classifies 9 crypto tokens as securities. Coinbase files a petition.
Big Picture
ECB Calls Out Crypto Assets for ‘Outsized Carbon Footprint’
By Editors | 24/07/2022
The ECB calls on investors and financial institutions to evaluate whether crypto undermines their ESG objectives and climate strategy.
Crypto / Digital Assets
ISSA Finds ‘Major Upsurge’ in DLT Use in Financial Markets
By Editors | 24/07/2022
Over 30% of the industry using DLT in live production, finds ISSA survey, conducted by the ValueExchange with support from Accenture, Broadridge and VMWare.
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