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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
Cryptocurrency
DBS Rolls Out Crypto Services to 100,000 More Investors
By Editors | 28/09/2022
Accredited wealth clients are able to trade four cryptocurrencies on DDEx – Bitcoin, Bitcoin Cash, Ethereum, and XRP.
Anti-Money Laundering
Korea FSS Finds More Suspicious Crypto-Linked FX Transactions
By Editors | 28/09/2022
FSS investigations have so far involved 82 corporates and 12 banks. The total value of abnormal FX transactions discovered is now $7.2bn.
Cryptocurrency
Korea Has Seized $182m in Crypto from Tax Delinquents
By Editors | 27/09/2022
The largest seizure from a single delinquent taxpayer was worth around KRW 12.5 billion, or about USD 8.8 million.
Anti-Money Laundering
UK Introduces Economic Crime Bill to Parliament
By Editors | 26/09/2022
The Bill targets beneficial ownership transparency and will also make it easier for law enforcement to seize and recover cryptoassets.
Cryptocurrency
Korea’s New Rules for Crypto Will Have to Wait
By Sanday Chongo Kabange | 26/09/2022
An FSC official said new legislation for the crypto sector will only be effective if there is international consistency.
Cryptocurrency
India to Finalise Stance on Crypto in Early 2023 – Reports
By Editors | 25/09/2022
The government plans to finalise its stance by February-March 2023, ahead of a May deadline to respond to the FATF.
Cryptocurrency
Indonesia to Tighten Rules for Crypto Exchanges – Report
By Editors | 25/09/2022
Crypto exchanges will have to post Indonesian citizens resident in the country to at least two-thirds of their board seats.
Custody & Infrastructure
US SEC Accounting Guidance Disrupts Banks Crypto Projects
By Mark Johnston | 24/09/2022
Accounting guidance issued in March has reportedly forced US listed banks that were building out crypto offerings to suspend their plans.
Stablecoins
EU Lawmakers Finalise Text of MiCA Legislation – Reports
By Editors | 23/09/2022
Limitations on the use of USD-pegged stablecoins within the EU have been removed. Algorithmic stablecoins and tradeable NFTs could be brought into scope.
Cryptocurrency
Australian Senator Proposes Bill on Digital Asset Regulation
By Editors | 23/09/2022
The bill would establish rules for crypto exchanges, custody providers stablecoin issuers, and banks facilitating e-CNY transactions.
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