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Digital Assets
Fraud, Scams & Cybercrime
Bendigo Bank Blocks “High-risk” Payments to Crypto Exchanges
By Editors | 31/07/2023
New rules for instant payments to crypto exchanges are designed to primarily target investment scams, Bendigo Bank said.
Cryptocurrency
Japan Blockchain Association Proposes Reforms to Crypto Tax Regime
By Editors | 31/07/2023
The JBA is seeking the abolishment of the year-end tax on unrealised gains from tokens issued by third parties, among other reforms.
CBDCs
Digital Yuan Being Used for Clearing Commodity Spot Trades
By Editors | 30/07/2023
Industrial Bank is the first bank to incorporate digital RMB into commodity spot trading, paving the way for future advancements in this area.
Cryptocurrency
Accounting Firms Face Potential Liabilities in Crypto Audits: SEC Official
By Manesh Samtani | 30/07/2023
SEC Chief Accountant warns accounting firms of potential legal liabilities when auditing crypto firms, stressing the importance of auditor independence.
Anti-Money Laundering
KoFIU is Ramping Up Efforts to Combat Crypto-related Crime
By Manesh Samtani | 30/07/2023
KoFIU will strengthen inspections, impose sanctions for violations, and disclose the results of investigations to promote legal compliance.
Stablecoins
US Lawmakers Advance Bill on Stablecoin Regulation
By Editors | 29/07/2023
The ‘Clarity for Payment Stablecoins Act’ would have the Fed write requirements for issuing stablecoins but still preserve the authority of state regulators.
Data Privacy
Worldcoin’s Global Launch Raises Regulatory Concerns
By Editors | 29/07/2023
UK, French and German regulators are looking into privacy concerns associated with Worldcoin’s iris-scanning data collection practices.
Anti-Money Laundering
UK Updates Guidance to Implement Travel Rule for Cryptoasset Transfers
By Editors | 29/07/2023
The proposed guidance specifies the information on originators and beneficiaries that crypto exchanges and wallet providers must send, receive and verify as part of a cryptoasset transfer.
Reporting & Disclosures
UK, Singapore Strengthen Cooperation in Sustainable Finance
By Ranamita Chakraborty | 28/07/2023
In a recent financial dialogue, both countries agreed to support the International Sustainability Standards Board in implementing sustainability reporting standards.
Capital Adequacy
Canada: OFSI Consults on Capital Rules for Crypto Exposures
By Editors | 28/07/2023
Two guidelines are proposed, one for federally regulated deposit-taking institutions, the other is for insurers.
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