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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
Market Abuse
Old Misconduct Patterns Are Repeating in New Settings: FMSB
By Editors | 08/06/2022
Forms of misconduct which have been present for hundreds of years are playing out in new digital asset classes, including crypto assets and NFTs.
Anti-Money Laundering
DOJ Calls for Stronger International Cooperation on Crypto Crime
By Editors | 08/06/2022
The paper says the US should help foreign nations develop the tools, technical expertise, and infrastructure necessary to conduct complex crypto-related investigations.
Fraud, Scams & Cybercrime
Investment Scams On the Rise in Australia: ACCC
By Editors | 08/06/2022
Australia has seen a sharp increase in investment scams this year. Text messages have become the most common scam contact mode.
Cryptocurrency
US Senators Propose Regulatory Framework for Crypto Assets
By Manesh Samtani | 08/06/2022
The CFTC would be granted authority over crypto spot markets, based on the understanding that “most digital assets are more similar to commodities than securities”.
Cryptocurrency
BIS Paper Explains Why Crypto Cannot Function as Money
By Editors | 08/06/2022
Fragmentation without interoperability implies that cryptocurrencies cannot fulfil the role of money as a coordination device, the paper says.
Tokenisation
Hong Kong SFC Issues Warning on NFT-related Risks
By Editors | 06/06/2022
Some NFTs have ‘crossed the boundary’ between a collectible and a financial asset, which would bring them under the SFC’s remit and require licensing.
Anti-Money Laundering
EU Proposes to Make AML Compliance a Licence Condition
By Editors | 05/06/2022
EBA, EIOPA and ESMA propose that AML/CTF compliance be a specific requirement for firms, including crypto firms, to obtain and maintain their licences.
Cryptocurrency
Korea FSS Probes Use of Crypto by Payment Firms
By Manesh Samtani | 04/06/2022
Regulators also plan to launch a ‘Digital Assets Committee’ this month to bring additional safeguards and regulatory structure to Korea’s crypto industry.
Market Abuse
CFTC Files Suit Against Winklevoss-founded Crypto Exchange
By Editors | 03/06/2022
The CFTC says Gemini misled the regulator about whether it could prevent manipulation in the prices used as a benchmark for a bitcoin futures contract.
Market Abuse
Ex-OpenSea Employee Charged for Insider Trading in NFTs
By Editors | 02/06/2022
The former product manager traded on confidential information about which NFTs were going to be featured by OpenSea’s website.
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