Crypto / Digital Assets

Crypto / Digital Assets

Audit Firms Are Exiting Relationships with Crypto Clients

By Mark Johnston | 21/12/2022

Mazars and Armanino have stopped serving clients in the crypto sector. BDO is reconsidering its approach to the sector.

Crypto / Digital Assets

FTX Seeks Court Authorisation to Sell Four Businesses

By Editors | 21/12/2022

Embed, LedgerX, FTX Japan and FTX Europe have maintained segregated customer accounts and have solvent balance sheets.

Enforcement

ASIC Files Suit Against Finder Wallet Over Crypto-related Product

By Sanday Chongo Kabange | 20/12/2022

Finder Wallet offered a crypto-related product that paid customers a return for use of their funds, like a debenture, ASIC says.

Crypto / Digital Assets

Indonesian Lawmakers Pass Major Financial Sector Reforms

By Editors | 20/12/2022

The legislation changes the central bank’s mandate, shifts crypto sector oversight to OJK, makes a digital rupiah legal tender, and introduces a carbon trading framework.

Crypto / Digital Assets

CGS-CIMB Becomes First Brokerage to Establish Link to ADDX

By Editors | 20/12/2022

CGS-CIMB is providing accredited investor clients access to tokenised and fractionalised private market securities via ADDX.

AML / KYC

IDAXA to Develop Global AML Standards for Crypto Industry

By Editors | 20/12/2022

IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.

Crypto / Digital Assets

NYDFS Issues Guidance on Crypto-Related Activities for Banks

By Sanday Chongo Kabange | 19/12/2022

New York regulated banks, as well as branches and agencies of foreign banks licensed by the NYDFS, need prior approval to engage in virtual currency-related activities.

Crypto / Digital Assets

US Lawmakers Introduce AML/CFT Bill for Crypto Firms

By Mark Johnston | 19/12/2022

The bill would categorise all crypto firms as money transfer businesses, requiring them to implement AML programmes and prohibiting the use of crypto mixers.

Capital / Liquidity

Basel Rules for Cryptoassets to Take Effect in Jan 2025

By Manesh Samtani | 19/12/2022

1,250% risk weight not applicable to custodied assets. Infrastructure risk add-on no longer mandatory. Gross limit on total Group 2 exposures raised from 1% to 2%.