CRYPTO / DIGITAL ASSETS

AML / KYC

CFTC Investigates Binance for Possible Insider Trading

By Manesh Samtani | 22/09/2021

Binance reportedly has plans to become a licensed financial institution, with a centralised headquarters, to make it easier to work with regulators.

AML / KYC

US Sanctions Crypto Firm Over Ransomware Payments

By Editors | 21/09/2021

OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.

AML / KYC

Basel AML Index Calls Out Ineffectiveness Across Jurisdictions

By Manesh Samtani | 21/09/2021

Areas of AML/CFT policy that urgently need more attention are virtual assets, implementation effectiveness, beneficial ownership, and DNFBPs.

Crypto / Digital Assets

Philippine SEC Warns Against Dealing with Unlicensed Entities

By Editors | 21/09/2021

The SEC has warned against dealing with unlicensed forex brokers, crypto exchanges, and DeFi platforms among others.

Crypto / Digital Assets

Korea: Nearly 70 Crypto Exchanges Set to Suspend Services

By Sanday Chongo Kabange | 21/09/2021

Nearly 40 exchanges are set to suspend all services, while 28 have ISMS certification and can continue trading without the Korean won.

Crypto / Digital Assets

Laos Authorises Six Companies for Crypto Mining, Trading

By Editors | 18/09/2021

Government ministries will work with the central bank and national power utility to decide on rules governing the use of cryptocurrencies.

Fintech / Regtech

Korean Crypto Exchange Closures to Cost Investors $2.6b

By Sanday Chongo Kabange | 16/09/2021

The closure of almost 40 of Korea’s crypto exchanges would eliminate 42 so-called Kimchi coins and potentially result in $2.6bn in investor losses.

Capital / Liquidity

JBA Calls for Global Cryptoasset Regulations for Non-banks

By Manesh Samtani | 15/09/2021

A global regulatory framework for cryptoassets that only includes banks would exacerbate rather than contain financial stability risks.

AML / KYC

Three More Korean Crypto Exchanges Secure Deals with Banks

By Editors | 13/09/2021

Bithumb, Coinone, and Korbit will likely meet the 24 September deadline. Korean police are preparing for illegal incidents from exchanges that are forced to close.