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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
PEPs & Sanctions
Singapore Sanctions Four Russian Banks, Imposes Other Restrictions
By Manesh Samtani | 06/03/2022
FIs that have relationships with the four banks must freeze their assets. DPT service providers are prohibited from facilitating sanctions evasion with crypto and NFTs.
Anti-Money Laundering
KoFIU Directs Crypto Exchanges to Improve AML Staffing
By Sanday Chongo Kabange | 05/03/2022
The proportion of staff dedicated to AML compliance at Korea’s crypto exchanges stands at around 8 percent.
Cryptocurrency
India’s ASCI Issues Advertising Guidelines for Crypto Products
By Mark Johnston | 03/03/2022
All virtual asset-related ads released on or after 1 April must carry a disclaimer; Certain words associated with regulated products are will be prohibited.
Cryptocurrency
EU Delays Vote on MiCA Legislation Following Backlash
By Mark Johnston | 03/03/2022
A vote on the EU’s regulatory framework for crypto-assets was delayed due to outcry over wording that would ban proof-of-work consensus protocols in 2025.
PEPs & Sanctions
SWIFT Ban Spares Russian Banks Facilitating EU Energy Trade
By Manesh Samtani | 03/03/2022
Sberbank and Gazprombank not included in ban; Global banks demonstrating “extreme caution”; Crypto exchanges under pressure to Russia-linked transactions.
Cryptocurrency
Cambridge CCAF Launches Crypto Research Project
By Sanday Chongo Kabange | 02/03/2022
The research project will cover the environmental implications and broader ESG considerations of digital assets and their associated services, among other themes.
Cryptocurrency
China Supreme Court Makes Crypto Fundraising a Criminal Offence
By Editors | 02/03/2022
Fundraising that exceeds CNY 50 million, or losses involving at CNY 25 million or 5,000 people, could result in more than 10 years in prison.
Anti-Money Laundering
New EU-Wide AML Authority Expected to Oversee Crypto Firms
By Mark Johnston | 01/03/2022
A group of EU member states led by Germany is seeking to make the inclusion of cryptocurrency firms under the AMLA’s remit more explicit.
Fraud, Scams & Cybercrime
BitConnect Founder Indicted for Running Crypto Ponzi Scheme
By Editors | 28/02/2022
BitConnect founder Satish Kumbhani and his co-conspirators obtained fraudulent gains from investors amounting to about USD 2.4 billion.
Cryptocurrency
The SFC Approach to Virtual Assets Prioritises Investor Protection
By Manesh Samtani | 28/02/2022
Since 2018, the steps taken by the SFC to regulate the virtual asset space have prioritised investor protection, first and foremost.
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