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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
Cryptocurrency
US SEC Directs Issuers to Detail Exposures to Crypto and Related Impacts
By Editors | 13/12/2022
Separately, US senators asked banking regulators to provide details on banks that have engaged in crypto-related services.
Cryptocurrency
EU Commission Proposes New Tax Transparency Rules for Crypto
By Editors | 13/12/2022
New requirements to report crypto-asset, e-money and digital currency transactions are expected to enter into force on 1 January 2026.
Cryptocurrency
FTX Japan Authorised to Continue Operating to Repay Customers
By Editors | 13/12/2022
The FSA had ordered FTX Japan to suspend business operations by 9 December. The extension until 9 March 2023 will allow it to return funds to users.
Anti-Money Laundering
Chinese Police Arrest 63 Members of Crypto Money Laundering Gang
By Editors | 13/12/2022
The gang is estimated to have laundered up to CNY 12 billion for both domestic and foreign criminal groups using cryptocurrency.
Structural Regulation
UK Proposes Extensive Overhaul of Financial Services Regulations
By Manesh Samtani | 12/12/2022
The reforms include overhauls of the ring-fencing and senior managers regimes, a new green finance strategy, and an investment management exemption for cryptoassets.
Anti-Money Laundering
EU Council Agrees Position on AML/CFT Reform Package
By Manesh Samtani | 11/12/2022
The package includes AML/CFT rules for the crypto sector and a ban on cash payments over EUR 10,000, among other measures.
Cryptocurrency
RBNZ to Start Monitoring Local Use of Crypto, Stablecoins
By Manesh Samtani | 11/12/2022
The monitoring framework will help the RBNZ understand how the market for new forms of money is developing and the implications for the monetary system.
Market Abuse
US Probes FTX Founder for Suspected Terra Manipulation
By Editors | 09/12/2022
Prosecutors are reportedly looking into whether Sam Bankman-Fried manipulated the prices of TerraUSD and Luna to benefit entities he controlled.
Anti-Money Laundering
Europol Issues Recommendations on Crypto-related Money Laundering
By Sanday Chongo Kabange | 08/12/2022
Europol recommends close cooperation between enforcement bodies and crypto providers to curb associated crime and money laundering.
Anti-Money Laundering
Hong Kong Legislative Council Passes AML/CTF Amendment Bill
By Manesh Samtani | 08/12/2022
New licensing regime for VASPs will start on 1 June 2023. New registration regime for precious metals dealers will start on 1 April 2023.
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