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Enforcement
China: Nine Execs Allegedly Linked to Semiconductor Fund Fraud
By Editors | 14/08/2022
Executives from a high-profile chipmaker, a fund that invested in it, and the manager of the fund are under investigation in a fraud and corruption probe.
Enforcement
Taiwan FSC Again Fines HK Firm for Faulty Beneficiary Disclosure
By Editors | 14/08/2022
Hong Kong-based Capital Target was fined last May and ordered to reduce its shareholdings in a Taiwanese financial conglomerate.
Crypto / Digital Assets
FSC Korea Starts Work on New Crypto Legislation
By Editors | 12/08/2022
The new “Digital Assets Basic Act” is likely to adopt various measures from 13 bills already proposed by lawmakers and pending in the National Assembly.
AML / KYC
Former BitMEX Exec to Pay Fine for Violating AML Law
By Editors | 11/08/2022
The US Attorney previously secured judgments against the firm’s three co-founders for violating US derivatives laws and AML rules.
AML / KYC
OFAC Sanctions Crypto Mixing Service Tornado Cash
By Manesh Samtani | 09/08/2022
The US Treasury Department says Tornado Cash has been used to launder over USD 7 billion worth of crypto since it was created in 2019.
Enforcement
Taiwan FSC Penalises Eastspring for Violations by Former CIO
By Editors | 09/08/2022
The former chief investment officer used “another person’s account” to trade the same stock that was being traded by Eastspring.
AML / KYC
US Secures Extradition of Former Crypto Exchange Operator
By Editors | 09/08/2022
Alexander Vinnik is alleged to have laundered more than $4bn through a crypto exchange he operated known as BTC-e until it was shut down in 2017.
Crypto / Digital Assets
US Court Allows Voyager Digital to Return Cash to Customers
By Editors | 07/08/2022
Regulators have separately ordered the crypto brokerage to “immediately remove” false statements it made that suggested it was FDIC-insured.
Enforcement
OFAC Investigating Kraken for Alleged Sanctions Violations
By Editors | 07/08/2022
Kraken is suspected of allowing Iranian users to utilise Kraken’s services, in violation of federal sanctions.
Enforcement
ASIC Finalises Guidance on How FSCP Will Work
By Sanday Chongo Kabange | 05/08/2022
FSCP sitting panels will comprise an ASIC staff member as chair and at least two external members from the FSCP’s pool of industry participants.
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