Digital Assets

Anti-Money Laundering

New Zealand DIA Issues New AML-CFT Guidance for VASPs

By Sanday Chongo Kabange | 29/07/2024

The guidance clarifies that the travel rule does not apply to transfers to un-hosted/self-hosted wallets, but that customer due diligence is still required.

Stablecoins

Swiss FINMA Publishes New Guidance on Stablecoins

By Editors | 29/07/2024

The guidance sets out new rules on deposit guarantees, which stablecoin issuers can obtain from banks instead of obtaining their own banking licences.

Fraud, Scams & Cybercrime

Russian Actors ‘Ubiquitous’ in Global Crypto Crime: TRM Labs

By Editors | 27/07/2024

Sanctioned Russia-based crypto exchange Garantex accounted for 82% of crypto transactions associated with all sanctioned entities internationally in 2023.

Custody & Infrastructure

New Zealand FMA Issues Guidance on Protecting Client Assets

By Sanday Chongo Kabange | 27/07/2024

The guidance note applies to financial service providers that hold or deal with client money or property on behalf of clients, including stockbrokers and custodians.

CBDCs

Philippines: BSP to Conclude CBDC PoC by Year-end

By Nithya Subramanian | 26/07/2024

Testing of the DLT and wCBDC tokenisation is complete. Two test runs of sandbox experiments are now being conducted.

Fraud, Scams & Cybercrime

HSBC Australia Blocks Payments to Crypto Exchanges

By Editors | 26/07/2024

The decision was made in light of data showing that Australians lost up to A$171mn in investment scams in 2023.

Cryptocurrency

Korea FSS Scrutinises Deposit Rates Paid by Crypto Exchanges

By Editors | 25/07/2024

The FSS determined that Bithumb’s proposal to pay 4 percent per annum on customer deposits was unreasonably high and did not comply with supervisory regulations.

Custody & Infrastructure

MAS Grants In-Principle Approval to Digital Asset Custodian Hex Trust

By Ranamita Chakraborty | 25/07/2024

Hex Trust said the MPI license will allow it to offer regulated DPT services in Singapore, namely for custody and OTC trading of DPTs.

Cryptocurrency

US Exchanges Commence Trading in First Spot Ether ETFs

By Editors | 24/07/2024

Nine ETFs saw $1.07bn worth of shares traded on the first day, resulting in net inflows of around $106.7mn.