Crypto / Digital Assets

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    Sanctions

    US Appeals Court Overturns Tornado Cash Sanctions

    By Editors | 28/11/2024

    The court said federal law only gives OFAC the authority to sanction property, and Tornado Cash’s smart contracts do not qualify as property.

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    AML / KYC

    Taiwan FSC Fines Two Crypto Exchanges for AML Violations

    By Mark Johnston | 28/11/2024

    FSC investigations found lapses involving CDD, transaction monitoring, record-keeping, and suspicious transaction reporting.

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    Crypto / Digital Assets

    UK FCA Unveils Plans for Crypto Regulation, Tokenisation

    By Manesh Samtani | 28/11/2024

    Several discussion papers and consultations will be issued between now and early 2026. The new crypto regime will go live within 2026.

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    AML / KYC

    Wolfsberg Group Defines Key Terms Related to Digital Assets

    By Manesh Samtani | 27/11/2024

    The definitions are intended to serve as a foundational reference for assessing ML/TF risks and developing appropriate controls for digital assets.

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    Crypto / Digital Assets

    Japan FSA Considers Tightening Regulations For Crypto

    By Thisanka Siripala | 27/11/2024

    The FSA is conducting closed door discussions to explore regulating crypto assets as financial products under the Financial Instruments and Exchange Act.

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    Crypto / Digital Assets

    BSP Proposes to Enhance Reporting Requirements for VASPs

    By Editors | 26/11/2024

    VASPs must submit 13 reports at specified intervals to ensure thorough oversight. A new reporting portal will be implemented by January.

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    Crypto / Digital Assets

    Japan’s FSA to Introduce Lighter Regulations for Crypto Brokers

    By Thisanka Siripala | 26/11/2024

    The FSA is exploring the creation of a new “intermediary business” with lighter regulations for enterprises handling cryptocurrency and stablecoins.

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    Crypto / Digital Assets

    Korean Court Declares Haru Invest Bankrupt Amid Crypto Fraud

    By Nithya Subramanian | 26/11/2024

    The ruling paves the way for asset liquidation. A creditors’ meeting is set for February 2025 to chart the recovery process.

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    Crypto / Digital Assets

    Shanghai Court Declares Personal Ownership of Crypto Legal

    By Mark Johnston | 26/11/2024

    In an opinion piece, a Shanghai judge wrote that cryptocurrency ownership is not illegal for individuals.

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    Enforcement

    S. Korean Police Confirm DPRK’s Role in 2019 Upbit Theft

    By Mark Johnston | 25/11/2024

    North Korean hackers stole 342,000 Ethereum tokens from Upbit in 2019. At today’s prices the tokens would be worth over $800mn.

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