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AML / KYC
BSP Issues New Guidance on TFS Implementation
By Sanday Chongo Kabange | 09/09/2022
The guidance sets out the BSP’s regulatory expectations and identifies emerging typologies, including the use of virtual assets to finance terrorism.
Crypto / Digital Assets
Australia Clarifies Crypto is Not Taxed as Foreign Currency
By Editors | 08/09/2022
The proposed legislation removes uncertainty regarding whether Bitcoin may be treated as a ‘foreign currency’ for income tax purposes.
Crypto / Digital Assets
Thai SEC Advances Work to Revamp Rules for Crypto Firms
By Editors | 08/09/2022
The SEC will appoint a working group to consider amendments to the regulatory framework. Separately, it has filed a police complaint against Zipmex.
Fintech / Regtech
Korea to Launch KRX-Operated Digital Securities Market
By Editors | 07/09/2022
Security token guidelines will be published in Q4 2022, and rule changes will be made next year to establish a system for issuance and distribution.
AML / KYC
UK OFSI Updates Sanctions Guidance to Include Crypto
By Editors | 07/09/2022
Crypto firms are directed to freeze assets of targets listed under the Consolidated List and report suspected sanctions breaches to the OFSI.
Crypto / Digital Assets
Digital Dollar Project Launching Sandbox to Explore CBDC
By Editors | 06/09/2022
The programme is slated to begin in early October with a focus on cross-border payments. The initial participants will be Digital Asset, EMTECH, Knox Networks, and Ripple.
Crypto / Digital Assets
Korea’s Busan City Forms Partnerships with FTX, Binance
By Editors | 05/09/2022
FTX will assist in the establishment of the Busan Digital Asset Exchange. Both FTX and Binance will support the development of Busan’s local blockchain industry.
Enforcement
Thai SEC Penalises Bitkub CTO for Insider Trading Violations
By Editors | 05/09/2022
Bitkub’s CTO bought the company’s own digital token, KUB Coin, based on inside information about a proposed acquisition by Siam Commercial Bank.
Crypto / Digital Assets
India: Four Public Sector Banks to Run CBDC Pilot
By Editors | 05/09/2022
The RBI has reportedly asked State Bank of India, Punjab National Bank, Union Bank of India and Bank of Baroda to run a CBDC pilot internally.
Crypto / Digital Assets
New Crypto Advertising Rules Take Effect in Thailand
By Editors | 04/09/2022
Crypto firms with advertising already on display have 30 days to amend their advertisements to achieve compliance with the new rules.
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