CRYPTO / DIGITAL ASSETS

    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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