Crypto / Digital Assets

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.

Fintech / Regtech

FSC Korea to Establish Virtual Asset Division Within KoFIU

By Sanday Chongo Kabange | 17/08/2021

The new division will oversee the adoption and implementation of the FATF recommendations on digital assets and VASPs.

Crypto / Digital Assets

Poly Network Hackers Return Almost All of Stolen Funds

By Sanday Chongo Kabange | 13/08/2021

Hackers have returned nearly all of the USD 613 million worth of digital tokens stolen on Tuesday, says Poly Network.

Fintech / Regtech

DBS Vickers Receives ‘In-principle Approval’ to Provide DPT Services

By Editors | 12/08/2021

DBS Vickers is working through the necessary follow-ups with a view to meeting MAS’ requirements for a digital payment token services licence.

AML / KYC

BitMEX to Pay $100m in Civil Penalties for US Regulatory Breaches

By Editors | 12/08/2021

BitMEX unlawfully accepted orders and funds from US customers to trade cryptocurrencies and failed to have in place an AML and user verification programme.

AML / KYC

DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021

By Sanday Chongo Kabange | 11/08/2021

In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.

AML / KYC

North Korea Continues to Evade Sanctions – Report

By Editors | 10/08/2021

A draft report by a UN panel of experts says North Korea has continued to evade sanctions through open sea ship-to-ship transfers and other means.

Fintech / Regtech

Bank of Korea CBDC Pilot to Kick off This Month

By Editors | 09/08/2021

Ground X, Kakaobank, Kakao Pay, Consensys, Samsung and Onther are among the firms that will participate in the pilot. Phase one will be complete by December.

AML / KYC

Good Intentions: The FATF Faces Its Own Unintended Consequences

By Tom Keatinge | 08/08/2021

The FATF’s unintended consequences study will point to necessary reforms that the watchdog will be unwilling to undertake.