CRYPTO / DIGITAL ASSETS

AML / KYC

Bangladesh Bank Reiterates Ban on Cryptocurrency

By Sanday Chongo Kabange | 04/08/2021

Bangladesh Bank sought to clarify its stance after reports emerged suggesting that crypto transactions are only illegal if they are linked to other crimes.

AML / KYC

Crypto Crime Reaches Record Levels in Hong Kong

By Editors | 04/08/2021

Victims lost HK$214m in cryptocurrency crimes in the first half of 2021, compared to HK$114.4mn across all of 2020.

Crypto / Digital Assets

PBOC Sets Out Action Plan for Second Half of 2021

By Sanday Chongo Kabange | 04/08/2021

Key focus areas include promoting a greener financing system, resolving major financial risks, promoting financial opening-up, and cracking down on crypto trading.

AML / KYC

US House Bill Offers Regulatory Framework for Crypto

By Manesh Samtani | 02/08/2021

The bill would give the SEC authority over digital asset securities, the CFTC authority over digital assets, and the Fed authority to issue a digital dollar.

Crypto / Digital Assets

UPDATED – MAS Grants “In-Principle Approval” to First DPT Provider

By Manesh Samtani | 02/08/2021

MAS has clarified that notices have been issued to several applicants and that “in-principle approval” is not an official term.

AML / KYC

Fighting Financial Crime with Advanced Technologies

By Ashish Rai | 02/08/2021

AI and machine learning make it easier for firms to spot suspicious behavior and reduce false positives, but adoption is not without challenges, says Ashish Rai.

AML / KYC

Regulatory Pressure on Binance Builds With Malaysia Ban

By Manesh Samtani | 01/08/2021

Malaysia’s SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.

Crypto / Digital Assets

Ripple Opens Japan-Philippines Remittance Corridor

By Manesh Samtani | 31/07/2021

Japan’s SBI Remit will connect with Coins.ph and crypto exchange SBI VC Trade to open the remittance corridor, leveraging Ripple’s on-demand liquidity service.

Crypto / Digital Assets

Australia: Industry Body Seeks Greater Clarity on Crypto Regulation

By Sanday Chongo Kabange | 30/07/2021

Blockchain Australia has asked for safe harbour to be provided to ensure regulatory action will not be taken against crypto businesses where the law is unclear.