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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
Cryptocurrency
UK ASA Orders Removal of “Misleading” Crypto.com Ad
By Editors | 27/12/2022
The ASA said the ad was misleading because “it failed to illustrate the risk of investing in NFTs” and “it didn’t make clear that fees would apply”.
Cryptocurrency
Insurers Are Denying Coverage to Crypto Firms Linked to FTX
By Editors | 27/12/2022
When coverage is provided, it is becoming more pricey and contains broad policy exclusions that would deny any FTX-related claims.
Fraud, Scams & Cybercrime
HK Police Arrest Two Men Over Halted Crypto Exchange AAX
By Editors | 26/12/2022
Police say the two men falsely claimed AAX was undergoing “scheduled maintenance” to suspend user withdrawals. A third individual is said to be on the run.
Fraud, Scams & Cybercrime
How Law Enforcement Can Take Action Against Crypto Crime
By Gurvais Grigg | 23/12/2022
Blockchain analysis tools and appropriate training can help exchanges, law enforcement, and other stakeholders recover victim funds, says Gurvais Grigg.
Fraud, Scams & Cybercrime
FTX, Alameda Execs Plead Guilty to US Fraud Charges
By Manesh Samtani | 23/12/2022
Caroline Ellison and Gary Wang are cooperating with the investigation into FTX, Alameda and Sam Bankman-Fried, who has been extradited to the US.
Fraud, Scams & Cybercrime
Co-Founder of OneCoin Pleads Guilty to Fraud
By Editors | 22/12/2022
Karl Sebastian Greenwood faces a maximum of 60 years in person. Co-conspirator Ruja Ignatova is on the FBI’s most wanted list.
Emerging Prudential Risks
HKMA Intends to Implement BCBS Cryptoasset Standards
By Editors | 22/12/2022
The HKMA plans to implement the Basel standards on the treatment of cryptoasset exposures locally by 1 January 2025, in accordance with the BCBS timetable.
Cryptocurrency
Audit Firms Are Exiting Relationships with Crypto Clients
By Mark Johnston | 21/12/2022
Mazars and Armanino have stopped serving clients in the crypto sector. BDO is reconsidering its approach to the sector.
Cryptocurrency
FTX Seeks Court Authorisation to Sell Four Businesses
By Editors | 21/12/2022
Embed, LedgerX, FTX Japan and FTX Europe have maintained segregated customer accounts and have solvent balance sheets.
Stablecoins
ASIC Files Suit Against Finder Wallet Over Crypto-related Product
By Sanday Chongo Kabange | 20/12/2022
Finder Wallet offered a crypto-related product that paid customers a return for use of their funds, like a debenture, ASIC says.
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