Cryptocurrency

Cryptocurrency

Korean Crypto Exchanges Face “Existential Crisis” – Report

By Sanday Chongo Kabange | 27/05/2021

Crypto exchanges have until 24 September to partner with banks on real-name accounts as a requirement for a business licence from the FSC.

Structural Regulation

Australia: Senate Committee to Probe ‘Debanking’ of Fintechs

By Ranamita Chakraborty | 25/05/2021

The government needs to better understand the policy issues which may be leading to debanking so that they can be addressed, said Senator Andrew Bragg.

Anti-Money Laundering

US Treasury Paper Outlines Proposal for New Tax Reporting Regime

By Sanday Chongo Kabange | 24/05/2021

The paper proposes that transfers involving crypto assets worth more than USD 10,000 be reported to the IRS under the new reporting regime.

Anti-Money Laundering

Hong Kong to Bar Retail Investors from Crypto Trading

By Manesh Samtani | 24/05/2021

Hong Kong’s FSTB has issued consultation conclusions on the new licensing regime for VASPs and a new registration regime for precious metals dealers.

Cryptocurrency

China Renews Crackdown on Cryptocurrencies

By Manesh Samtani | 19/05/2021

Three state-backed associations representing internet firms, banks, and payments companies have barred their members from providing crypto-related services to customers.

Cryptocurrency

RBI Asks Banks to Cut Ties With Cryptocurrency Exchanges

By Sanday Chongo Kabange | 17/05/2021

The unofficial guidance comes as Indian lawmakers look to introduce a ban on cryptocurrencies and penalise anyone dealing in them.

Cryptocurrency

BOK Seeks Authority to Monitor Crypto Transactions – Report

By Sanday Chongo Kabange | 15/05/2021

The BOK plans to use existing authorities to monitor crypto transactions, amid fears that risks in the sector could flow to the broader financial system.

Cryptocurrency

Korean Lawmakers Push for Tougher Crypto Legislation

By Sanday Chongo Kabange | 11/05/2021

Lawmakers are pushing for tougher crypto legislation to protect crypto investors against unfair practices and price manipulation.

Fraud, Scams & Cybercrime

Korea: Police Raid Crypto Exchange, Freeze $214m in Assets

By Editors | 08/05/2021

Crypto exchange V Global is alleged to have engaged in an illegal multi-level marketing scheme to lure investors.