Crypto / Digital Assets

Enforcement

Korean Prosecutors Seek More Terra-related Arrest Warrants

By Editors | 01/12/2022

New arrest warrants are sought for co-founder Daniel Shin, as well as Terraform Labs investors and engineers.

Crypto / Digital Assets

MAS Grants MetaComp Licence to Offer DPT Services in Singapore

By Editors | 01/12/2022

MetaComp, a unit of MetaVerse Green Exchange, is now able to offer regulated digital payment token services in Singapore.

Crypto / Digital Assets

Singapore Deputy PM Defends Temasek Over FTX Loss

By Manesh Samtani | 01/12/2022

The FTX loss is disappointing, but it does not imply that the governance system is not working, deputy PM Lawrence Wong said.

Crypto / Digital Assets

More Than 500 Banks Have Now Adopted ‘Swift Go’

By Editors | 30/11/2022

Swift outlines progress made in 2022 toward the G20’s goals for enhancing cross-border payments, including through CBDC experimentation.

Crypto / Digital Assets

Lawmakers Propose Bill to Prevent FTX-Style Collapse in Korea

By Editors | 30/11/2022

The bill, if passed, will require crypto exchanges to segregate users’ assets, buy insurance against hacking, and compensate users for unexpected withdrawal halts.

Capital / Liquidity

MAS Plans to Adopt BCBS Risk Weights for Cryptoassets

By Manesh Samtani | 30/11/2022

MAS will require Singapore banks to apply a 1250% risk weight for exposures to Bitcoin and Ether, pending the finalisation of the BCBS framework.

Crypto / Digital Assets

IOSCO to Develop Regulatory Guidance for Crypto Market

By Editors | 30/11/2022

IOSCO chair Jean-Paul Servais said new standards for regulating “crypto conglomerates” are an “obvious necessity.”

AML / KYC

UK Crypto Fraud Increased 32pc Over One Year Period

By Editors | 30/11/2022

UK police unit Action Fraud said crypto-related fraud losses from October 2021 to September 2022 amounted to $270mn.

AML / KYC

OFAC Fines Crypto Firm Kraken for Iran Sanctions Violations

By Editors | 30/11/2022

Kraken was facing a maximum fine of over $272mn. The $362,000 settlement reflects OFAC’s determination the violations were “non-egregious and voluntarily self-disclosed”.