Digital Assets

Anti-Bribery & Corruption

Chinese Official Jailed for Life Over Crypto-related Bribery Scheme

By Editors | 23/08/2023

The former official was convicted for abusing his power and hiding crypto mining that used a tenth of his province’s electricity.

Cryptocurrency

BIS Paper Warns of Heightened Risks from Crypto in EMEs

By Manesh Samtani | 23/08/2023

Certain “risk catalysts” in emerging markets can strengthen the transmission channels through which risks from crypto markets can affect financial stability.

Fraud, Scams & Cybercrime

Trend of Rising Crypto Scams Seen In A&A Blockchain Case

By Ranamita Chakraborty | 23/08/2023

Industry experts spoke to Regulation Asia about crypto scams in the context of charges brought against four A&A Blockchain executives who scammed 12 individuals into investing in a crypto mining scheme.

Anti-Money Laundering

Korean City Set to Seize Crypto Assets from Tax Evaders

By Editors | 23/08/2023

The Cheongju City government has ordered seven crypto exchanges to submit a report on the crypto holdings of 8,250 people, who each owe over KRW 1 million in tax.

Payments & Settlements

Swift Achieves FSB Speed Target for Cross Border Payments

By Editors | 23/08/2023

89% of transactions processed on the Swift network now reach recipient banks within one hour. The FSB target was 75% by 2027.

Cryptocurrency

New Zealand: Collapsed Crypto Firm Reported to FMA, SFO

By Sanday Chongo Kabange | 22/08/2023

Grant Thornton has contacted regulators about a NZ$6.3 million shortfall between reported user holdings and the digital assets held by collapsed crypto firm Dasset.

CBDCs

Russia Launches CBDC Pilot With 13 Banks Participating

By Editors | 21/08/2023

The pilot involves 13 banks and 600 individual clients who can make payments at 30 points of sale in 11 Russian cities.

Cryptocurrency

NZ Parliamentary Report Warns Against Overregulating Digital Assets

By Manesh Samtani | 21/08/2023

New Zealand does not need to urgently design and implement an integrated regulatory framework for digital assets at this time, the report says.

Trading & Investment

FSC Korea Outlines Policy Initiatives Planned for H2

By Editors | 20/08/2023

The initiatives focus on restoring investor trust, strengthening capital market structure, and ensuring financial stability.