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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
Fraud, Scams & Cybercrime
US DOJ Files Charges Against Six Individuals Over Crypto Frauds
By Editors | 04/07/2022
Criminal charges were filed in four separate cases of alleged crypto-related fraud, including the largest known NFT scheme charged to date.
Anti-Money Laundering
Limited Progress Made on Travel Rule Implementation: FATF
By Editors | 01/07/2022
Jurisdictions have made “only limited progress” over the last year to implement the travel rule in the crypto industry, the FATF says.
Cryptocurrency
MAS Reprimands Crypto Hedge Fund Three Arrows Capital
By Editors | 01/07/2022
MAS said Three Arrows Capital exceeded its allowable AUM and gave the regulator a false representation. The company entered into liquidation this week.
Capital Adequacy
BCBS Issues New Consultation on Banks’ Cryptoasset Exposures
By Manesh Samtani | 01/07/2022
Total bank exposures to Group 2 cryptossets would be capped at 1% of Tier 1 capital. Banks would be permitted to recognise hedging for certain Group 2 cryptoassets.
Anti-Money Laundering
EU Lawmakers Agree on AML Framework for Crypto
By Manesh Samtani | 30/06/2022
Crypto asset service providers will be required to implement customer protection measures and robust AML/CFT safeguards including the travel rule.
Anti-Money Laundering
Woori Bank, Crypto Exchange Under Probe for Money Laundering
By Editors | 29/06/2022
This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.
Cryptocurrency
Thai SEC Proposes to Tighten Rules for ICO Portals
By Editors | 28/06/2022
ICO portals cannot provide services for digital token offerings if there is a conflict of interest, such as in situations where they hold shares in the issuer.
Tokenisation
Malaysia Unveils Strategic Roadmap to Develop Labuan IBFC
By Editors | 28/06/2022
The roadmap includes plans to develop regulatory requirements for digital assets, the tokenisation of non-securities, and dealings on digital exchange platforms.
Cryptocurrency
Shenzhen Authorities Issue Warning Against Crypto Speculation
By Editors | 28/06/2022
Domestic staff of overseas crypto exchanges and others engaging in crypto-related business will be investigated.
Cryptocurrency
Chinese Courts Rule Sales Agreement Involving Crypto as Invalid
By Editors | 26/06/2022
The court said virtual currencies are not legal tender, referencing the 2017 declaration from the PBOC. A higher court upheld the ruling.
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