Enforcement

The new "Digital Assets Basic Act" is likely to adopt various measures from 13 bills already proposed by lawmakers and pending in the National Assembly.

The US Attorney previously secured judgments against the firm's three co-founders for violating US derivatives laws and AML rules.

The US Treasury Department says Tornado Cash has been used to launder over USD 7 billion worth of crypto since it was created in 2019.

The former chief investment officer used "another person's account" to trade the same stock that was being traded by Eastspring.

Alexander Vinnik is alleged to have laundered more than $4bn through a crypto exchange he operated known as BTC-e until it was shut down in 2017.

Regulators have separately ordered the crypto brokerage to "immediately remove" false statements it made that suggested it was FDIC-insured.

Kraken is suspected of allowing Iranian users to utilise Kraken's services, in violation of federal sanctions.

FSCP sitting panels will comprise an ASIC staff member as chair and at least two external members from the FSCP's pool of industry participants.

The FSS said KakaoBank launched the new remittance service without proper testing, and provided prohibited loans to major shareholders.

Officials from the MIIT, CBIRC and PBOC have been named in a fresh round of corruption investigations.