Digital Assets

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    Cryptocurrency

    FSS Korea Issues ‘Best Practices’ Guidance on Crypto-related Disclosures

    By Manesh Samtani | 25/07/2023

    The FSS provides sample footnote disclosures for virtual asset issuers, holders, and exchanges, in line with new crypto asset accounting and disclosure guidelines.

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    Anti-Money Laundering

    Couple Responsible for 2016 Bitfinex Hack Reach Plea Deal

    By Manesh Samtani | 24/07/2023

    The 119,754 bitcoin stolen was worth $71mn at the time of the hack. When the couple was arrested in Feb 2022, it was worth over $4.5mn.

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    CBDCs

    Russian President Signs CBDC Bill Into Law

    By Manesh Samtani | 24/07/2023

    The central bank will begin piloting a digital ruble in August, with 13 banks and about 30 enterprises from 11 cities participating.

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    Tokenisation

    South Korean Banks Eye CD Tokens as Stablecoin Alternative

    By Mark Johnston | 24/07/2023

    CD tokens are based on the existing banking system and do not require a change in the role of central banks, unlike stablecoins.

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    Cryptocurrency

    Worldcoin Crypto Project Officially Launches

    By Editors | 24/07/2023

    The project uses a small device called an “orb” to scan people’s eyeballs in order to generate a unique digital identity.

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    Cryptocurrency

    Indonesia Launches National Cryptocurrency Exchange

    By Manesh Samtani | 24/07/2023

    The new exchange will serve as the only trading venue in the country where digital assets can be exchanged legally.

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    Anti-Money Laundering

    US DOJ Elevates Crypto Enforcement Team Within Criminal Division

    By Manesh Samtani | 24/07/2023

    NCET will merge into the Computer Crime and Intellectual Property Section, more than doubling the number of prosecutors available to work on crypto-related crime.

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    Stablecoins

    Myanmar’s Opposition Government Launches Neobank

    By Editors | 23/07/2023

    Users of ‘Spring Development Bank’ will be able to deposit foreign currency and receive USDT, which can also be exchanged for MMK.

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    Anti-Money Laundering

    China Dismantles Online Gambling Ring, Seizes $160m in Crypto

    By Editors | 22/07/2023

    Police said the scheme involved a “maze-like criminal network” that used virtual assets to launder money overseas.

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    Cryptocurrency

    UK Rejects Proposal to Regulate Crypto as Gambling

    By Mark Johnston | 21/07/2023

    The UK government and Treasury have rejected a parliamentary committee’s suggestion to regulate crypto trading and investment as gambling.

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