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Fintech / Regtech
EU Lawmakers Vote to Adopt KYC Rules for Unhosted Crypto Wallets
By Darien Choong | 04/04/2022
The European Parliament voted to adopt requirements for crypto firms to gather and verify personally identifiable information of users of unhosted crypto wallets.
Fintech / Regtech
Visa, Western Union, GBBC Join Digital Dollar Project
By Editors | 03/04/2022
The new members were announced just weeks after President Joe Biden signed an executive order outlining a “whole-of-government approach” to evaluate digital assets including a CBDC.
Fintech / Regtech
FCA Allows Crypto Firms to Continue Under Temporary Registration
By Editors | 03/04/2022
Though the deadline has passed, six cryptoasset firms with temporary registration can still continue to operate under temporary registration.
AML / KYC
US Designates Russian Tech Firms for Enabling Sanctions Evasion
By Manesh Samtani | 03/04/2022
US sanctions 21 entities and 13 individuals. EU to propose new measures this week. Australia applies 35% export tariff.
Crypto / Digital Assets
Bangladesh Proposes Law to Raise Penalties for Banking Fraud
By Editors | 03/04/2022
The bill would allow Bangladesh Bank to remove a bank’s owners, directors, executives, and other officials if they are involved in banking fraud.
Crypto / Digital Assets
India Passes Legislation to Implement 30pc Crypto Tax
By Editors | 01/04/2022
Traders will not be able to offset losses against profits. A 1 percent tax will also be deducted at source for trading over INR 50,000 in a year.
AML / KYC
US DOJ Charges Two for NFT Fraud, Money Laundering
By Sanday Chongo Kabange | 01/04/2022
The two defendants promised benefits to NFTs buyers and then transferred the $1.1mn in crypto proceeds to various wallets under their control.
Big Picture
FSB Publishes Work Programme for 2022
By Editors | 31/03/2022
Key focus areas include work to address Covid-19 scarring effects, enhance cross-border payments, and address financial risks from climate change.
AML / KYC
Taiwan Central Bank Warns of Fraud Via Bitcoin ATMs
By Darien Choong | 31/03/2022
Bitcoin ATMs in Taiwan are being used to scam victims who attempt to transfer cash to specific accounts to purchase cryptoassets.
Enforcement
Singapore Police, Banks Step Up Scam Intervention Efforts
By Editors | 31/03/2022
In a four-day operation last week, the police and five banks intervened in 150 scam cases, which resulted in the arrests of 35 individuals.
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