Cryptocurrency

PEPs & Sanctions

Illicit Crypto Transactions Reached All-time High in 2022

By Editors | 15/01/2023

Chainalysis says 44 percent of 2022’s illicit transaction volume came from activity associated with sanctioned entities, including sanctioned crypto exchange Garantex.

Cryptocurrency

US SEC Files Charges Against Crypto Firms Gemini, Genesis

By Editors | 13/01/2023

The SEC says the Gemini Earn programme, which allowed investors to earn interest on their crypto assets, constituted the offer and sale of unregistered securities.

Cryptocurrency

SFC Plans to Allow Retail Access to ‘Highly Liquid’ Crypto Assets

By Manesh Samtani | 12/01/2023

A consultation on retail trading will begin sometime in Q1. The SFC plans to start accepting applications for VASP licences in mid 2024.

Anti-Money Laundering

Korean Authorities Investigate Bithumb for Possible Tax Evasion

By Editors | 11/01/2023

Tax authorities raided Bithumb’s headquarters in Seoul on Tuesday. Two of its former chairmen have also been the subject of separate probes.

Liquidity Risk

Crypto Bank Silvergate Reveals Details of Post-FTX Bank Run

By Manesh Samtani | 10/01/2023

The bank faced $8bn in withdrawals, forcing it to sell $5.2bn in debt securities at a $718mn loss. Its stock has fallen 95% since Nov 2021.

Cryptocurrency

Singapore’s New Crypto Rules Too Restrictive, Says Industry Body

By Editors | 10/01/2023

A blanket ban on providing credit could push retail investors to lend their crypto tokens via unregulated offshore firms.

Cryptocurrency

Indonesian Regulator Bappebti Seeks to Launch Crypto Exchange

By Editors | 09/01/2023

Bappebti is seeking to establish a new crypto exchange for Indonesian users before its regulatory powers over the sector are transferred to the OJK.

Cryptocurrency

GDF Proposes Voluntary Standards for Global Cryptoasset Market

By Manesh Samtani | 09/01/2023

In designing the standards, the GDF has leveraged the framework and high-level principles existing in the FX Global Code.

Anti-Money Laundering

AUSTRAC: Risk Assessments Must be Alive to Emerging Threats

By Bradley Maclean | 08/01/2023

Top official Brad Brown discusses AUSTRAC’s ongoing work to upgrade its reporting system and further advance Australia’s AML/CTF system.