CRYPTO / DIGITAL ASSETS

Enforcement

US Treasury Announces New Ransomware-related Sanctions

By Manesh Samtani | 09/11/2021

The US Treasury Department, OFAC, State Department, DOJ, and FinCEN have taken coordinated action to counter the ransomware threat.

Crypto / Digital Assets

CBA to Become First Major Aussie Bank to Offer Crypto Trading

By Sanday Chongo Kabange | 05/11/2021

CBA will offer customers the ability to buy, sell and hold crypto assets directly through its ‘CommBank’ app, which is currently used by close to six million customers.

Crypto / Digital Assets

Hong Kong Virtual Assets Regime Under Review: SFC

By Sanday Chongo Kabange | 03/11/2021

The SFC is considering whether licensed firms should be allowed to provide crypto trading services to clients through omnibus account arrangements, and whether to allow crypto ETFs.

Fintech / Regtech

MAS Sees “A Lot of Promise” in Crypto Space: Ravi Menon

By Manesh Samtani | 03/11/2021

MAS is seeking to develop crypto technology and better understand smart contracts as it prepares for Singapore to become a “tokenised economy” by 2030.

Big Picture

FSB Reports Progress to G20 on Financial System Resilience

By Editors | 02/11/2021

The FSB emphasises a need to ensure that regulatory frameworks allow for the financial sector to harness the benefits of innovation while containing the related risks.

Crypto / Digital Assets

Tokyo Court Confirms $9bn Plan to Repay Mt Gox Creditors

By Editors | 30/10/2021

The rehabilitation plan will lead to the distribution of more than $9bn to investors who lost bitcoins when Mt Gox closed more than seven years ago.

AML / KYC

FATF Issues Final Updated Guidance on Virtual Assets, VASPs

By Manesh Samtani | 29/10/2021

The guidance offers clarification on the definition of VASPs, and explains how the FATF standards apply to stablecoins, P2P transactions, NFTs and DeFi.

Crypto / Digital Assets

ASIC Issues Guidance on Crypto-asset Investment Products

By Editors | 29/10/2021

ASIC says it has introduced a new ‘crypto-asset’ category in the licensing application for responsible entities.

Crypto / Digital Assets

India No Longer Likely to Ban Cryptocurrencies – Report

By Ranamita Chakraborty | 29/10/2021

Finance ministry officials have reportedly said that a law for cryptocurrencies could as soon as February 2022, around the time of India’s next general Budget.