Crypto / Digital Assets

AML / KYC

European Commission Seeks Establishment of New AML Authority

By Ranamita Chakraborty | 15/07/2021

The new authority would be able to directly oversee the financial firms operating across multiple member states and issue penalties for AMLviolations.

AML / KYC

Korea to Require Overseas Crypto Exchanges to Register with KoFIU

By Editors | 14/07/2021

Cryptocurrency exchanges based outside Korea would be required to register with KoFIU if they use the Korean won for settlement.

AML / KYC

Stablecoins Increasingly Used in Money Laundering, PBOC Says

By Editors | 12/07/2021

PBOC governor Fan Yifei says stablecoins are increasingly being used as a tool for illegal activities and money laundering.

Crypto / Digital Assets

RBNZ to Consult on Potential CBDC Issuance

By Sanday Chongo Kabange | 08/07/2021

The RBNZ plans to consult on broad concepts of money and cash stewardship, the potential for a CBDC, and issues arising from crypto assets and stablecoins.

Crypto / Digital Assets

Philippine Bourse Seeks to Launch Crypto Business – Report

By Sanday Chongo Kabange | 07/07/2021

CEO Ramon Monzon said the PSE should be the exchange platform for crypto assets because it already has the trading infrastructure and investor safeguards in place.

AML / KYC

FATF Urges Faster Implementation of Travel Rule in Crypto Sector

By Editors | 06/07/2021

Slow implementation of travel rule requirements is acting as a disincentive to VASPs to invest in the necessary technology and compliance infrastructure.

AML / KYC

FATF Examines Collaborative Analytics and the Need for Privacy

By Manesh Samtani | 06/07/2021

An AML risk information sharing platform in trial operation in China allows FIs to check whether a customer is labelled high risk by other FIs without any customer data being exchanged.

AML / KYC

Taiwan: New AML Rules For Crypto Exchanges Take Effect

By Sanday Chongo Kabange | 05/07/2021

Crypto exchanges in Taiwan have to report transactions worth more than TWD 500,000 and fulfill KYC requirements.

Crypto / Digital Assets

SFC Sets Out Key Priorities in Annual Report

By Manesh Samtani | 03/07/2021

The SFC is implementing a number of projects that seek to leverage new technologies to enhance risk detection and workflow efficiency.