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AML / KYC
FCA Extends Temporary Registrations Regime for Cryptoasset Firms
By Sanday Chongo Kabange | 04/06/2021
A “significantly high number” of cryptoasset businesses are not meeting AML/CTF standards, a key part of obtaining registration with the FCA.
Crypto / Digital Assets
MAS Issues Guidance on Managing Risks of Cloud Services
By Editors | 04/06/2021
In a new advisory, MAS highlights the key risks and control measures FIs should consider before adopting public cloud services.
AML / KYC
Korea Designates FSS as Agency to Regulate Virtual Assets
By Sanday Chongo Kabange | 03/06/2021
The FSS will oversee the crypto industry, including in relation to AML rules imposed by the Act on Reporting and Using Specified Financial Transaction Information.
Crypto / Digital Assets
DeFi May Be Subject to Licensing Requirement, Warns Thai SEC
By Sanday Chongo Kabange | 03/06/2021
The SEC warned that failure to obtain a licence for the issuance of digital tokens on DeFi platforms could be punishable under the Digital Assets Act.
Crypto / Digital Assets
Bursa Malaysia Concludes Blockchain Bond POC with STACS
By Sanday Chongo Kabange | 03/06/2021
The collaborative efforts from the PoC have established a new ‘Bond in a Box’ operating model that shows commercial potentials, the project report says.
AML / KYC
2018 Circular Prohibiting Crypto Dealings Not Valid, RBI Clarifies
By Sanday Chongo Kabange | 01/06/2021
The RBI has clarified that its 2018 circular prohibiting cryptocurrency dealings is no longer valid, and should not be cited or quoted from.
Crypto / Digital Assets
DBS Issues First STO on New Digital Exchange
By Sanday Chongo Kabange | 01/06/2021
The issuance paves the way for other issuers to access the capital markets through STO issuances as asset tokenisation turns mainstream, DBS says.
Crypto / Digital Assets
Leveraged Crypto Trading Threatens Financial System: BOK
By Sanday Chongo Kabange | 31/05/2021
High leverage, price volatility and increased trading in crypto assets puts households at risk of financial damages, which could impact the financial system.
Crypto / Digital Assets
Inner Mongolia Government Threatens Punishment for Crypto Mining
By Sanday Chongo Kabange | 28/05/2021
A new notice warns telecoms, big data centres and cloud computing companies of severe punishment if they engage in or facilitate crypto mining activities.
AML / KYC
Korean Crypto Exchanges Face “Existential Crisis” – Report
By Sanday Chongo Kabange | 27/05/2021
Crypto exchanges have until 24 September to partner with banks on real-name accounts as a requirement for a business licence from the FSC.
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