Crypto / Digital Assets

AML / KYC

FSC Korea Confirms Plans for Dedicated Crypto Bureau at KoFIU

By Manesh Samtani | 26/08/2021

24 of the 63 crypto exchanges operating in Korea have not yet applied for ISMS certification, a KoFIU registration requirement that takes months to obtain.

Fintech / Regtech

US SEC Seeks Regulatory Oversight Over DeFi Platforms

By Pongnut Thanaboonchai | 26/08/2021

SEC chairman Gary Gensler likens DeFi to P2P lending.  In 2008, the SEC said promissory notes issued to P2P investors were securities.

AML / KYC

APG Releases 2021 Typologies Report, Case Studies

By Editors | 26/08/2021

The report includes information on the risks associated with proliferation financing, Covid-19, cryptocurrencies, shell companies, and real estate.

Crypto / Digital Assets

Japan: Crypto Firm Liquid Resumes Services Following $97m Hack

By Editors | 25/08/2021

Liquid has been tracing the movement of the stolen assets and working with other exchanges to freeze and recover the funds.

Crypto / Digital Assets

The Role of Digital ID in Advancing CBDC Initiatives

By Claus Christensen | 24/08/2021

The presence of digital ID infrastructure can influence the design and roll-out of CBDC initiatives, writes Claus Christensen.

AML / KYC

Upbit Becomes First Crypto Exchange to Register With KoFIU

By Editors | 24/08/2021

Upbit has a partnership with K-bank for real-name verification. One or two more exchanges are expected to register by end-August.

Crypto / Digital Assets

ASIC Warns Against Unlicensed Crypto Derivatives Trading

By Sanday Chongo Kabange | 19/08/2021

ASIC has received reports that investors who used unlicensed crypto-trading platforms have suffered losses due to excessive leverage, platform outages, or unfair liquidations.

AML / KYC

Darkweb Blockchain Analytics Tool Gets Shut Down

By Ranamita Chakraborty | 19/08/2021

A service that was being used by criminals to check whether their own bitcoin wallets were linked to criminal activity has been shut down.

AML / KYC

All VASPs Unprepared for New AML Rules, FSC Korea Finds

By Manesh Samtani | 18/08/2021

Even VASPs with real-name accounts in place do not have dedicated employees in place for AML or adequate systems for suspicious transactions reporting.