Cryptocurrency

Cryptocurrency

FSB Unveils Proposed Global Regulatory Framework for Crypto

By Editors | 12/10/2022

The framework covers all crypto-asset activity, as well as associated issuers and service providers, that have the potential to pose financial stability risks.

Cryptocurrency

OECD Releases Tax Transparency Framework for Crypto

By Manesh Samtani | 11/10/2022

Indirect investments in crypto assets via derivatives and investment vehicles, as well as CBDCs, will be covered by CRS, rather than CARF.

Fraud, Scams & Cybercrime

HK Victims Have Lost HKD 2.6 billion to Scams This Year

By Editors | 10/10/2022

Online investment fraud accounted for HKD 540 million of all online scams, which is largely attributed to an increase in crypto-related scams.

Fraud, Scams & Cybercrime

Binance Suffers Crypto Hack, But Contains Losses

By Editors | 10/10/2022

After managing to freeze the majority of the stolen assets, Binance said about $100mn in unrecovered funds remains, out of $570mn that was initially stolen.

Cryptocurrency

Interest Rate Caps Do Not Apply to Bitcoin Loans, Korean Court Rules

By Editors | 09/10/2022

The case involves a loan worth 30 bitcoins with an annual interest rate of 60 percent. Korean law caps interest rates on loans at 24 percent.

Cryptocurrency

CME to Launch New Crypto Reference Rates, Indices

By Editors | 08/10/2022

New reference rates and real-time indices will be introduced for AVAX, FIL and XTZ. The launch will not include tradable futures products.

Capital Adequacy

Industry Says BCBS Cryptoasset Treatment is Prohibitive for Banks

By Manesh Samtani | 08/10/2022

The cap on banks’ exposures to cryptoassets should be raised from 1% to 5% of tier 1 capital, and based on net rather than gross exposures. The infrastructure risk add-on should be scrapped.

Cryptocurrency

Russia Seeks to Legalise Crypto Mining in Some Regions

By Editors | 06/10/2022

The bill may be rejected by Russia’s parliament, because it does not specify tax procedures or requirements for data centres and mining operators.

Cryptocurrency

European Council Approves Final MiCA Legislation

By Manesh Samtani | 06/10/2022

The next step before MiCA is formally adopted is for the European Parliament to vote on the proposal on Monday.