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Reporting on regulatory frameworks, enforcement actions, adoption trends, and risks associated with decentralised digital currencies like Bitcoin and Ethereum.
Anti-Money Laundering
Binance Deploys New AML Solution Amid Regulatory Pressure
By Ranamita Chakraborty | 01/07/2021
Binance has deployed a new AML compliance solution in the face of a ban in the UK and warnings from Japanese and Thai regulators.
Cryptocurrency
ASIC Proposes New Guidance for Crypto-asset ETPs
By Editors | 01/07/2021
In ASIC’s view, only bitcoin and ether are likely to satisfy proposed criteria for determining whether a crypto-asset is appropriate as an ETP’s underlying asset.
Anti-Money Laundering
FATF Plenary Packs Powerful Punch
By Manesh Samtani | 25/06/2021
The FATF finalised reports on technological innovation, environmental crime, and asset recovery. New guidance on PF risk and a white paper on beneficial ownership were also finalised.
Anti-Money Laundering
Korean Officials Seize Cryptocurrency from Tax Evaders
By Editors | 23/06/2021
Investigators had to compare tax evaders’ mobile phone numbers against those registered at crypto exchanges in order to track down their account details.
Cryptocurrency
PBOC Directs Banks & Alipay to Stamp Out Crypto Activity
By Manesh Samtani | 22/06/2021
Financial institutions are asked to identify the capital accounts of crypto exchanges and OTC dealers, and cut off their payment channels.
Cryptocurrency
China’s Sichuan Province Bans Crypto Mining Activity
By Sanday Chongo Kabange | 22/06/2021
Over 90% of China’s bitcoin mining capacity has effectively been shut down, after bans were imposed in key mining hubs in the country.
Anti-Money Laundering
Korea Extends AML Compliance Deadline for Crypto Sector
By Sanday Chongo Kabange | 20/06/2021
The extension is primarily being allowed to ensure regulators can process applications received before the 24 September deadline.
Cryptocurrency
More Chinese Provinces Restrict Crypto Mining Activity
By Sanday Chongo Kabange | 15/06/2021
Qinghai, Yunnan, and a prefecture in Xinjiang have joined Inner Mongolia in imposing restrictions on cryptocurrency mining.
Cryptocurrency
El Salvador Becomes First Country to Allow Bitcoin as Legal Tender
By Editors | 13/06/2021
El Salvador president Nayib Bukele is inviting bitcoin miners to set up at a state-owned geothermal facility powered by a volcano.
Capital Adequacy
BCBS Consults on Prudential Treatment of Cryptoasset Exposures
By Manesh Samtani | 11/06/2021
Bitcoin and other “Group 2 cryptoassets” will be subject to a 1250% risk weight to avoid exposing bank depositors and creditors to a loss.
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