Crypto / Digital Assets

Crypto / Digital Assets

Korea Prosecutors Seize $104m from Terra Co-founder

By Editors | 23/11/2022

Prosecutors seized and froze USD 104.4 million in assets belonging to Daniel Shin, representing profits from the sale of pre-issued LUNA tokens to investors.

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.