Crypto / Digital Assets

Crypto / Digital Assets

FCA Finalises Advertising Rules for High-risk Financial Products

By Manesh Samtani | 04/08/2022

Rules for cryptoasset promotions will be published after new legislation confirms how crypto will be brought into the FCA’s remit.

AML / KYC

ECB Analyses Options for Enhancing Cross-Border Payments

By Manesh Samtani | 04/08/2022

Bitcoin and stablecoins are “unlikely” to be the “holy grail” of cross-border payments. Interlinked domestic payment systems and interoperable CBDCs show the most promise.

AML / KYC

New York State Regulator Penalises Robinhood Crypto Unit

By Editors | 04/08/2022

Robinhood Crypto had inadequate staffing of its AML programme, transaction monitoring deficiencies, and noncompliant cybersecurity policies.

AML / KYC

US SEC Charges 11 Over Crypto Pyramid and Ponzi Scheme

By Editors | 04/08/2022

Forsage investors earned profits by recruiting others into the scheme, which used assets from new investors to pay earlier investors.

Crypto / Digital Assets

Laying the Groundwork for Digital Assets to Take Flight in Korea

By Susan Friedman | 04/08/2022

South Korea has an opportunity to bolster innovation in digital assets as it develops new regulations for the sector, say Ripple’s Susan Friedman and Rahul Advani.

Crypto / Digital Assets

MAS Grants DPT Licences to Sparrow, Digital Treasures Center

By Manesh Samtani | 02/08/2022

Sparrow and DTC were granted in-principle approval earlier this year. MAS will be consulting on proposed measures to enhance its regulatory framework in the next few months.

Crypto / Digital Assets

UK Law Commission Proposes Reforms to Accommodate Crypto

By Editors | 01/08/2022

New consultation paper proposes explicit recognition of digital assets under law as a distinct category of personal property, provisionally called ‘data objects’.

AML / KYC

Taiwan Prohibits Credit Card Usage for Crypto Transactions

By Darien Choong | 28/07/2022

Credit card companies that process payments for transactions involving virtual assets will have three months to stop.

Securities / Derivatives

CFTC, SEC Preparing to Tackle More Crypto-related Risks

By Manesh Samtani | 27/07/2022

The CFTC has a new innovation office and is realigning its customer education office. The SEC has appointed 20 new specialists to its crypto unit and wants a bigger budget.