Crypto / Digital Assets

Crypto / Digital Assets

US SEC Secures $21m Settlement from Crypto Lender Genesis

By Editors | 20/03/2024

Genesis will only have to pay the civil penalty after all allowed claims in its bankruptcy are settled, including claims by Gemini Earn investors.

Enforcement

US DOJ Proposes 50 Year Prison Term for FTX Founder

By Mark Johnston | 19/03/2024

Prosecutors proposed a 40-50 year prison term, $11bn fine and forfeiture for Sam Bankman-Fried, who faces sentencing on 28 March.

Crypto / Digital Assets

FSS Korea Issues 2024 Virtual Asset Supervision Workplan

By Manesh Samtani | 19/03/2024

The supervision work plan includes measures to support regulatory compliance by VASPs ahead of the Virtual Asset Users Protection Act coming into force on 19 July 2024.

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”.