Digital Assets

Anti-Money Laundering

Korea Customs: Crypto Involved in 70pc of Illicit Fund Flows in 2022

By Editors | 09/03/2023

The illicit crypto transactions were mostly aimed at purchasing foreign virtual assets with the intention of exploiting the so-called “Kimchi premium”.

Cryptocurrency

Court Allows Binance.US to Buy Voyager Despite SEC Objection

By Editors | 09/03/2023

The court said the SEC’s objection was “vague”, that it failed to present any evidence, and that it should not have waited until the last minute to raise its concerns.

Fraud, Scams & Cybercrime

HK Losses from Crypto Scams Exceeded $200m in 2022

By Editors | 08/03/2023

Financial losses from crypto-related scams accounted for more than half of the total value lost through technology crime last year, police say.

Cryptocurrency

FTX’s Alameda Sues Grayscale for Trapped Crypto Assets

By Manesh Samtani | 08/03/2023

Alameda accuses Grayscale and its owner Digital Currency Group of “brazen abuse” of their control over nearly USD 19 billion of digital assets held in two trusts.

Stablecoins

Singapore Police are Investigating Terraform Labs – Report

By Editors | 06/03/2023

Singapore police confirmed “ongoing” investigations into Terraform Labs, which is also being sued by the US SEC following its collapse last May.

CBDCs

BIS Innovation Hub Nordic Centre Completes Retail CBDC Project

By Editors | 06/03/2023

Project Icebreaker shows that different countries can implement different CBDC solutions and still participate in a formalised interlinking arrangement to enable instant cross-currency transactions.

Cryptocurrency

Crypto Focused Bank Silvergate Edges Towards Closure

By Manesh Samtani | 06/03/2023

Silvergate warned that it was evaluating its ability to operate as a going concern, prompting client departures and the discontinuation of its crypto payments network.

Stablecoins

Japanese Banks Commence Stablecoin Issuance Experiment

By Editors | 03/03/2023

Tokyo Kiraboshi FG, Minna Bank and Shikoku Bank will issue a stablecoin using a system developed by Web3 infrastructure company GU Technologies.

Cryptocurrency

FSB-IMF Paper to Support Global Policy Approach to Crypto

By Editors | 03/03/2023

An “IMF-FSB Synthesis Paper” due to be published in September will support a “coordinated and comprehensive policy approach to crypto-assets”.