Crypto / Digital Assets

AML / KYC

Singapore: Revolut, Luno Get In-Principle Approval to Offer DPT Services

By Editors | 02/05/2022

MAS managing director Ravi Menon described the licensing process as necessarily stringent for Singapore to be a responsible global crypto hub.

Crypto / Digital Assets

Hangzhou Court Delivers China’s First NFT-related Judgment

By Darien Choong | 01/05/2022

The court penalised an NFT marketplace for failing to subject an artwork to review and meet its obligations to protect against intellectual property theft.

AML / KYC

US OCC Orders Digital Assets Bank to Address AML Failings

By Sanday Chongo Kabange | 30/04/2022

Deficiencies were found at Anchorage Digital Bank, the US’ first federally chartered bank authorised to provide institutional custody services for crypto.

Fintech / Regtech

SFC Grants In-principle Approval to HashKey Crypto Platform

By Manesh Samtani | 30/04/2022

HashKey’s platform will offer trading, brokerage and automated trading services for cryptocurrencies, virtual commodities, stablecoins and security tokens.

Enforcement

MAS Offers Update on Major Ongoing Investigations

By Editors | 29/04/2022

MAS’ latest enforcement report includes a new section providing updates on cases relating to Noble Group, Hyflux, Eagle Hospitality Trust, and Hui Xun Asset Management.

Crypto / Digital Assets

ASX to Align Rulebooks for Investment Products

By Editors | 29/04/2022

Having three different rulebooks for investment products opens the door to inconsistent treatment, rule arbitrage, and confusion for issuers and investors.

Capital / Liquidity

Industry Bodies Call on BCBS to Revisit SA-CCR Standard

By Manesh Samtani | 26/04/2022

The SA-CCR framework, having been finalised in 2014, does not adequately reflect structural changes in the derivatives market and the overall regulatory framework.

AML / KYC

Philippine Banks Directed to Monitor Gaming-related Transactions

By Editors | 25/04/2022

FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.

AML / KYC

Chinese Payments Firms Take Steps to Stop Online Fraud

By Editors | 25/04/2022

Alipay removed more than 170,000 accounts linked to illegal activity, just days after the government issued guidance on combatting internet fraud.