Cryptocurrency

Cryptocurrency

Shinhan Bank to Pilot Crypto Service for Corporate Clients

By Editors | 12/04/2022

Shinhan, through its partner exchange Korbit, will become the first Korean bank to allow businesses to invest in cryptocurrencies.

Credit Risk

New Korean Government to Ease Real Estate Lending Rules

By Mark Johnston | 11/04/2022

President-elect Yoon Suk-yeol’s government plans to relax LTV ratio restrictions and reduce taxes on owners of multiple homes.

Operational Risk

APRA to Set Out Expectations for FIs Dealing in Digital Assets

By Editors | 11/04/2022

APRA will not be introducing new regulatory requirements for FIs or attempting to hinder innovation. Rather, it will be asking them to closely assess and monitor new operational risks.

Cryptocurrency

Indonesia to Start Taxing Crypto Investments, Fintech Services in May

By Editors | 10/04/2022

Indonesia will charge a capital gains tax and VAT on crypto transactions, as well as interest and fees generated from fintech services, starting on 1 May 2022.

Supervision & Enforcement

ASIC Charges Firm for Offering Crypto Loans Without Credit Licence

By Sanday Chongo Kabange | 09/04/2022

ASIC has charged Helio Lending for falsely representing that it had a credit licence that allowed it to offer cryptocurrency-backed loans.

Cryptocurrency

Thai Crypto Firms Required to Issue Transaction Reports to Clients

By Editors | 07/04/2022

From 1 May, crypto businesses have to submit reports to customers within one day after a transaction is complete, allowing them to view records going back 18 months.

PEPs & Sanctions

US, German Authorities Target World’s Largest Darknet Market

By Manesh Samtani | 07/04/2022

OFAC has sanctioned Russia-based website Hydra Market and crypto exchange Garantex for facilitating transactions for ransomware actors.

Cryptocurrency

Korean Banks to Request Entry into Crypto Sector – Report

By Editors | 07/04/2022

A report will be submitted to the incoming president’s transition committee requesting that banks be allowed to engage in the crypto sector.

Stablecoins

UK Outlines Plan to Become Global Hub for Crypto

By Editors | 06/04/2022

The plan includes a regulatory framework for payment-related stablecoins, enhancements to the tax system, and greater engagement with the crypto industry.