CRYPTO / DIGITAL ASSETS

AML / KYC

OFAC Settles Sanctions Case Against Crypto Payments Processor BitPay

By Editors | 20/02/2021

BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.

AML / KYC

FSC Korea Proposes Additional Rule Changes for VASPs

By Editors | 18/02/2021

The changes add to revisions proposed in November to align requirements for VASPs with the FATF recommendations.

Crypto / Digital Assets

SEC Thailand Targets Recovery Objective in New Strategic Plan

By Sanday Chongo Kabange | 16/02/2021

The plan includes a ‘recovery and strengthening’ objective, and measures to support the use of liquidity enhancement tools for businesses affected by Covid-19.

AML / KYC

Hong Kong: GDF Warns Against Restricting Retail Investment in Crypto

By Manesh Samtani | 16/02/2021

The November FSTB proposal to only allow VASPs to offer services to professional investors could prompt retail investors to move to unlicensed platforms, GDF says.

AML / KYC

GLEIF Unveils Issuance, Infrastructure Models for Verifiable LEI

By Editors | 12/02/2021

The vLEI system will give legal entities the capacity to use non-repudiable identification data pertaining to their legal status, ownership structure and authorised representatives.

Crypto / Digital Assets

AFCA Compels NAB to Repay Scammed Customers – Report

By Editors | 10/02/2021

The bank had to repay over A$200,000 to an elderly couple after it was unable to produce records showing it had warned them about a cryptocurrency scam.

Crypto / Digital Assets

SEC Thailand Orders Crypto Exchange to Suspend Client Onboarding

By Ranamita Chakraborty | 08/02/2021

Bitkub needs to address five major issues before it can resume onboarding new clients, after high volume trading disrupted its systems in January.

Crypto / Digital Assets

Taiwan Issues List of Institutions Required to Bolster Cybersecurity

By Ranamita Chakraborty | 05/02/2021

The critical infrastructure facilities believed to be on the list include Taiwan’s D-SIBs, science park operators and telecoms.

AML / KYC

Thailand to Introduce Rules for Digital Asset Wallet Providers

By Editors | 02/02/2021

The SEC is concerned that digital asset wallets and custodian services could be used for drug offences and money laundering.