Digital Assets

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    Anti-Money Laundering

    Korean Authorities Investigate Bithumb for Possible Tax Evasion

    By Editors | 11/01/2023

    Tax authorities raided Bithumb’s headquarters in Seoul on Tuesday. Two of its former chairmen have also been the subject of separate probes.

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    CBDCs

    HK Lawmaker Proposes to Use e-HKD as Stablecoin for DeFi

    By Sanday Chongo Kabange | 11/01/2023

    LegCo member Wu Jiezhuang says using the CBDC as a government-backed stablecoin will help address virtual asset risks and enhance trust in Web3.

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    Liquidity Risk

    Crypto Bank Silvergate Reveals Details of Post-FTX Bank Run

    By Manesh Samtani | 10/01/2023

    The bank faced $8bn in withdrawals, forcing it to sell $5.2bn in debt securities at a $718mn loss. Its stock has fallen 95% since Nov 2021.

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    Cryptocurrency

    Singapore’s New Crypto Rules Too Restrictive, Says Industry Body

    By Editors | 10/01/2023

    A blanket ban on providing credit could push retail investors to lend their crypto tokens via unregulated offshore firms.

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    CBDCs

    ECB Seeks Experts to Help Draft CBDC Rulebook

    By Editors | 09/01/2023

    The Rulebook Development Group will commence work in February 2023, comprising Eurosystem staff and market representatives with relevant experience.

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    Cryptocurrency

    Indonesian Regulator Bappebti Seeks to Launch Crypto Exchange

    By Editors | 09/01/2023

    Bappebti is seeking to establish a new crypto exchange for Indonesian users before its regulatory powers over the sector are transferred to the OJK.

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    Cryptocurrency

    GDF Proposes Voluntary Standards for Global Cryptoasset Market

    By Manesh Samtani | 09/01/2023

    In designing the standards, the GDF has leveraged the framework and high-level principles existing in the FX Global Code.

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    Anti-Money Laundering

    AUSTRAC: Risk Assessments Must be Alive to Emerging Threats

    By Bradley Maclean | 08/01/2023

    Top official Brad Brown discusses AUSTRAC’s ongoing work to upgrade its reporting system and further advance Australia’s AML/CTF system.

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    Fraud, Scams & Cybercrime

    NYAG Files Suit Against Founder of Crypto Lender Celsius

    By Manesh Samtani | 08/01/2023

    NYAG says Alex Mashinsky lied about Celsius’s safety, then lost customer funds in risky investments and concealed the firm’s deteriorating financial condition.

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    Cryptocurrency

    UK Adds Cryptoassets to Investment Manager Exemption

    By Editors | 08/01/2023

    Global investors using UK investment managers will not be subject to UK tax if they include cryptoassets within their portfolios.

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