Crypto / Digital Assets

Cryptocurrencies to be regulated under new AML rules before a bilateral AML evaluation by APG in November; banks ordered to label crypto exchange accounts as ‘high risk’.

IMF can play key role to develop global regulatory approach; Lagarde calls for systemic risk assessment, expresses hope for crypto to improve financial ecosystem.

Central bank concerned up to 32,000 people have been defrauded; Prime Minister urges regulators to ‘toughen management’ of cryptocurrency activity.

Financial Services Commission to conduct on-site expectations of three banks with cryptocurrency account relationships.

Government-backed research group proposes rules for identifying investors, preventing money laundering and protecting equity and debt holders.

Reports suggest banks will have three months to comply; central bank meanwhile explores feasibility of state-backed digital currency.

Exchanges must register with AUSTRAC, adopt AML/CTF programme, verify customer identities, report suspicious transactions, maintain seven years of records.

PBOC’s Institute of International Finance says China would actively participate in a G20-led effort to establish a global regulatory framework.