ENFORCEMENT

AML / KYC

NYDFS Ends Coinbase AML Probe With $100m Settlement

By Editors | 05/01/2023

The settlement includes a $50mn penalty and a commitment by Coinbase to invest a further $50mn in its compliance programme over the next two years.

Enforcement

FSC Korea Reorganises Capital Market Fraud Investigation Unit

By Editors | 05/01/2023

The change will improve the efficiency and expertise available for conducting investigations into capital market frauds, the FSC said.

Crypto / Digital Assets

Korean Court Jails Former Crypto Execs for Running Ponzi Scheme

By Editors | 04/01/2023

Crypto exchange V Global promised to triple investments in six months, then used funds from new members to make payouts to existing members.

Crypto / Digital Assets

US Court Sets October Date for Bankman-Fried Trial

By Manesh Samtani | 04/01/2023

Bankman-Fried pleaded not guilty to all eight charges against him. The court set a 2 October 2023 date for trial, which is expected to last about four weeks.

Enforcement

CSRC Bars Two Online Brokers from Onboarding Mainland Investors

By Editors | 04/01/2023

Futu Holdings and Tiger Brokers have been offering offshore trading services to mainland clients though they are not licensed in China.

Enforcement

US FTC Orders Mastercard to Stop Blocking Competing Networks

By Editors | 03/01/2023

The FTC says Mastercard used its control over its “tokenisation” process to block the use of competing payment card networks.

Enforcement

China: Two Former P2P Lending Executives Jailed for 20 Years

By Editors | 03/01/2023

Two executives of now-defunct Tuandai.com were convicted for fundraising fraud and illegal collection of public deposits, among other charges.

Enforcement

Singapore Imposes 36-Year Jail Sentence for Market Manipulation

By Editors | 03/01/2023

John Soh Chee Wen and Quah Su-Ling were sentenced to 36 and 20 years in jail, respectively, for manipulating three penny stocks ten years ago.

Enforcement

China to Crack Down on Illegal Stock Recommendations

By Editors | 30/12/2022

Regulators are targeting online information, accounts, website platforms and mobile apps being used to make stock recommendations illegally.