Digital Assets

Cryptocurrency

New Requirements Commencing for Crypto Firms in Singapore

By Manesh Samtani | 02/04/2024

The amendments take effect in stages from 4 April 2024, with transitional arrangements for firms currently conducting activities under the expanded scope of the Payment Services Act.

PEPs & Sanctions

Russia Using Tether Stablecoin to Circumvent Sanctions – Report

By Editors | 02/04/2024

One China-based smuggler used a Hong Kong distributor, shipments via Central Asia, and Tether for payments to fulfill Russian orders for drone parts.

Cloud & Infrastructure

HKMA to Soon Issue Guidelines for Banks on DLT Adoption

By Manesh Samtani | 02/04/2024

HKMA’s Raymond Chan said the new guidelines will not be binding nor exhaustive, but they will provide a “helpful benchmark” for banks looking to plan and develop DLT solutions.

Tokenisation

Regulatory Certainty Needed to Fully Benefit from Tokenisation: SFC

By Nithya Subramanian | 01/04/2024

The SFC’s Elizabeth Wong says intermediaries planning to offer tokenised products must demonstrate that they have done their due diligence and can manage the associated risks.

Anti-Money Laundering

FATF Sheds Light on Global Implementation of Crypto Standards

By Manesh Samtani | 31/03/2024

91% of jurisdictions with materially important VASP activity have enacted or are in the process of enacting AML/CTF requirements for VASPs.

Cryptocurrency

Korea Sets Out Procedures for Dealing with ‘Unfair’ Crypto Trades

By Editors | 31/03/2024

The proposed operating rules will come into force from 19 July, when the new Virtual Asset User Protection Act also takes effect.

Anti-Money Laundering

Nigeria Files Charges Against Binance & Executives

By Editors | 31/03/2024

One of the two Binance executives detained last month escaped custody. Both executives and Binance are accused of money laundering and tax evasion, among other charges.

Cryptocurrency

Taiwan Approves Establishment of Local Crypto Industry Association

By Mark Johnston | 29/03/2024

The association will be responsible for formulating industry norms, advocating compliant operations, and improving industry self-discipline.

Cryptocurrency

VSFG & Value Partners Apply to Launch Spot Bitcoin ETF

By Editors | 29/03/2024

VSFG is said to be “actively engaged” in discussions with the SFC on plans to potentially launch the new spot bitcoin ETF in May.