Crypto / Digital Assets

Crypto / Digital Assets

Crypto Firm Celsius Operated as Ponzi Scheme, Report Says

By Editors | 01/02/2023

Celsius, now in bankruptcy, used customer funds to prop up the price of its own token for years, including to allow insiders to cash out.

Crypto / Digital Assets

US SEC Probes Investment Advisers Over Crypto Asset Custody

By Editors | 01/02/2023

The US regulator is inquiring into how investment advisers assess third-party custodians used to hold clients’ crypto assets.

Big Picture

Responsible Innovation in Financial Markets: Observations from the Trenches

By Manoj Ramia | 01/02/2023

Digital Asset’s Manoj Ramia says responsible financial innovation should be informed by reality, focus on solving real problems and stay within regulatory guardrails.

Crypto / Digital Assets

New York Regulator Investigating Crypto Firm Gemini

By Editors | 01/02/2023

Gemini emphasised connections to the FDIC when customers asked if their assets were safe. Almost $1bn in customer assets have since been frozen on the platform.

AML / KYC

HKMA Confirms Plans to Introduce Stablecoin Regulations

By Editors | 01/02/2023

Stablecoins must be fully backed, redemption at par must be available at all times, and issuers must be licenced. Algorithmic stablecoins will not be accepted.

Crypto / Digital Assets

Bank Indonesia Consults on Wholesale CBDC Development

By Editors | 31/01/2023

The consultation paper covers access, issuance, redemption, funds transfer, technical aspects and implications for the financial system.

Crypto / Digital Assets

Bankman-Fried Lawyers Request Access to Crypto Held by FTX

By Editors | 31/01/2023

The DOJ asked for a communications ban against Bankman-Fried as an additional bail condition. Last week, a 116-page list of the FTX’s creditors was filed to the bankruptcy court.

Capital / Liquidity

FSC Korea Unveils 12 Policy Initiatives in 2023 Work Plan

By Manesh Samtani | 31/01/2023

The initiatives seek to mitigate risks related to financial stability, insolvencies, scams, and virtual assets, while also promoting innovation and fintech.

AML / KYC

Korea Justice Ministry to Start Tracking Crypto Transactions

By Editors | 31/01/2023

The “Virtual Currency Tracking System” will be launched as part of a new cloud system that will allow other agencies to leverage prosecutors’ investigative and forensics expertise.