AML / KYC

The update expands the scope of the standard beyond securities to include OTC derivatives, baskets, emission allowances and carbon credits.

BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.

The developer of a phishing kit used to steal tens of millions of dollars from bank accounts in 11 countries has been arrested in Ukraine.

The changes add to revisions proposed in November to align requirements for VASPs with the FATF recommendations.

The new framework will use a four-point rating scale to grade FIs based on their inherent risks, risk management capabilities and self-assessment systems.

The Wall Street Journal says Ant Group’s IPO was suspended last year due to its complex ownership structure and an unease over the likely beneficiaries of the listing.

The new system will reduce the time it takes for investors to open an account and minimise the number of accounts opened using fake information, BSEC said.

The November FSTB proposal to only allow VASPs to offer services to professional investors could prompt retail investors to move to unlicensed platforms, GDF says.

New draft rules are aimed at deepening trust and confidence in digital identities through the adoption of common standards to safeguard personal data and privacy.

Users must plan to implement the updated file formats to ensure uninterrupted access to LEI data beyond 31 March 2022, GLEIF said.