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AML / KYC
HK Victims Have Lost HKD 2.6 billion to Scams This Year
By Editors | 10/10/2022
Online investment fraud accounted for HKD 540 million of all online scams, which is largely attributed to an increase in crypto-related scams.
Crypto / Digital Assets
Binance Suffers Crypto Hack, But Contains Losses
By Editors | 10/10/2022
After managing to freeze the majority of the stolen assets, Binance said about $100mn in unrecovered funds remains, out of $570mn that was initially stolen.
Crypto / Digital Assets
RBI Set to Commence Limited Pilot Launch of CBDC
By Editors | 09/10/2022
To avoid the disintermediation of banks, which would impede credit creation, the RBI suggested the CBDC would likely be non-interest bearing.
Crypto / Digital Assets
Interest Rate Caps Do Not Apply to Bitcoin Loans, Korean Court Rules
By Editors | 09/10/2022
The case involves a loan worth 30 bitcoins with an annual interest rate of 60 percent. Korean law caps interest rates on loans at 24 percent.
Crypto / Digital Assets
CME to Launch New Crypto Reference Rates, Indices
By Editors | 08/10/2022
New reference rates and real-time indices will be introduced for AVAX, FIL and XTZ. The launch will not include tradable futures products.
Capital / Liquidity
Industry Says BCBS Cryptoasset Treatment is Prohibitive for Banks
By Manesh Samtani | 08/10/2022
The cap on banks’ exposures to cryptoassets should be raised from 1% to 5% of tier 1 capital, and based on net rather than gross exposures. The infrastructure risk add-on should be scrapped.
AML / KYC
European Council Adopts Eighth Russia Sanctions Package
By Editors | 06/10/2022
The package completely bans the provision of crypto wallets, accounts, or custody services to Russian nationals and entities, among other measures.
Crypto / Digital Assets
Russia Seeks to Legalise Crypto Mining in Some Regions
By Editors | 06/10/2022
The bill may be rejected by Russia’s parliament, because it does not specify tax procedures or requirements for data centres and mining operators.
Crypto / Digital Assets
SWIFT Publishes Results of CBDC, Tokenised Asset Experiments
By Editors | 06/10/2022
The experiments show SWIFT can enable central banks to connect their CBDC networks to all other payment systems in the world through a single gateway.
Crypto / Digital Assets
European Council Approves Final MiCA Legislation
By Manesh Samtani | 06/10/2022
The next step before MiCA is formally adopted is for the European Parliament to vote on the proposal on Monday.
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