CRYPTO / DIGITAL ASSETS

AML / KYC

SFC Issues Fresh Warning Against Unlicensed Crypto Firm MEXC

By Sanday Chongo Kabange | 18/03/2024

This is the second warning the SFC has issued against MEXC. Regulators in Korea, Japan, India and Germany have also warned against MEXC.

Fintech / Regtech

HKMA Launches Second Phase of e-HKD Testing

By Sanday Chongo Kabange | 15/03/2024

Phase 2 will focus on programmability, tokenisation and atomic settlement, leveraging the ‘Project Ensemble’ sandbox.

Crypto / Digital Assets

SFC Issues Warning Against Crypto Products from Bybit

By Sanday Chongo Kabange | 15/03/2024

The warning refers to the Seychelles company Bybit Fintech Limited, and not the HK-incorporated Spark Fintech Limited, which has applied for an SFC licence.

Enforcement

Australian Court Rules Against ASIC in ‘Finder Earn’ Crypto Case

By Editors | 15/03/2024

The court ruled against ASIC’s contention that the crypto investment product known as ‘Finder Earn’ was a debenture and therefore required authorisation.

Crypto / Digital Assets

Thai SEC to Allow Private Funds to Invest in Spot Crypto ETFs

By Editors | 14/03/2024

SEC Secretary General Pornanong Budsaratragoon said the funds can only be offered to institutional investors and ultra-high-net-worth investors.

Crypto / Digital Assets

Crypto Major OKX Wins In-principle Approval in Singapore

By Ranamita Chakraborty | 14/03/2024

OKX will focus on spot products first while it works to bring local banking connections to customers “as soon as possible”.

AML / KYC

US Court Convicts Alleged Founder of Crypto Mixer ‘Bitcoin Fog’

By Editors | 14/03/2024

Russian-Swiss national Roman Sterlingov was found guilty on four charges, though he maintained his innocence during the jury trial.

Crypto / Digital Assets

Coinbase Launches Legal Challenge Against US SEC

By Manesh Samtani | 13/03/2024

Coinbase argues that the SEC acted arbitrarily and capriciously when it summarily denied a petition seeking tailored rules for the crypto industry.

AML / KYC

HKMA to Establish Regulatory Sandbox for Stablecoin Issuers

By Sanday Chongo Kabange | 13/03/2024

The HKMA will use the sandbox to communicate supervisory expectations and guidance on the issuance of fiat-referenced stablecoins in Hong Kong.