Crypto / Digital Assets

Genesis has more than 100,000 creditors who may be owed up to USD 10 billion. The biggest creditor is crypto exchange Gemini.

DAOs have the potential to address the shortcomings of traditional firms while also realising more equitable governance and operations.

Nexo settled charges from US regulators for $45mn. The company was separately raided by Bulgarian authorities last week.

NAB plans allow clients to use the stablecoin for repo transactions, cross-border remittances, and carbon credits trading.

The BSP is testing large value CBDC transactions among a limited number of FIs. A retail  CBDC is not being explored.

The partnership comprises the GBBC, Eqo Networks, BxCi, Solana Foundation, Ripple, Regen Network, and Climate Collective.

The regulations provide clarity on the IT controls custody providers must have in place to mitigate cyber risks in their management of crypto wallets and keys.

Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.

Bitzlato facilitated $700mn in crypto transfers for Hydra users and received more than $15mn in ransomware proceeds.

Angela Ang looks back at digital asset developments in 2022 in Singapore, and ahead to what to expect in 2023.