CRYPTO / DIGITAL ASSETS

Crypto / Digital Assets

FSA Japan to Enforce New Crypto Laws from May

By Editors | 07/04/2020

Changes to two pieces of legislation will ensure better investor protection, and bring custodians, ICOs, STOs and crypto derivatives under the FSA’s remit.

AML / KYC

S. Korea Approves Revisions to Legal Framework for Crypto

By Editors | 18/03/2020

The revision bill was introduced last November, and passed on 5 March. The government has now approved the revision act at a cabinet meeting on 17 March.

AML / KYC

Australia: Senate Committee Backs Passage of AML Amendments

By Editors | 12/03/2020

The bill allows firms to rely on KYC performed by third parties, strengthens correspondent banking protections, and promotes greater use of financial intelligence to combat financial crime.

AML / KYC

S. Korea Passes New Regulatory Framework for Crypto Sector

By Editors | 11/03/2020

The ‘Special Financial Information Law’ authorises Korean financial regulators to oversee the crypto industry and develop AML rules in line with the FATF recommendations.

AML / KYC

FATF Issues Guidance Paper on Digital Identity Systems

By Editors | 07/03/2020

The guidance recommends a risk-based approach which relies on a set of assurance frameworks and technical standards for digital ID systems.

Crypto / Digital Assets

Supreme Court Overturns RBI Circular Barring Banks from Crypto Dealings

By Editors | 04/03/2020

The ruling is hailed as a big win for the crypto sector. But, the government  has yet to act on an interministerial committee’s recommendations to ban all private cryptocurrencies.

AML / KYC

OFAC Sanctions Two Chinese Nationals Over Stolen Cryptocurrency

By Editors | 03/03/2020

OFAC has linked two Chinese nationals to the 2018 theft of $250mn in cryptocurrency by the Lazarus Group, a US-designated North Korean cybercrime group.

Crypto / Digital Assets

Thailand SEC Sets Out Three Year Strategic Plan for Capital Market

By Editors | 28/02/2020

The strategic plan includes greater integration of ESG factors in the market, enhancing SME and startup access to capital, promoting the use of digital and e-KYC technologies, among others.

AML / KYC

Meeting New Compliance Challenges Through Digital Identity

By Peter Guy | 27/02/2020

Digital identity systems could form a significant component of the compliance infrastructures at the new digital banks in the years to come, says Refinitiv’s Phillip Malcolm.