Digital Assets

Fraud, Scams & Cybercrime

FTX, Alameda Execs Plead Guilty to US Fraud Charges

By Manesh Samtani | 23/12/2022

Caroline Ellison and Gary Wang are cooperating with the investigation into FTX, Alameda and Sam Bankman-Fried, who has been extradited to the US.

Fraud, Scams & Cybercrime

Co-Founder of OneCoin Pleads Guilty to Fraud

By Editors | 22/12/2022

Karl Sebastian Greenwood faces a maximum of 60 years in person. Co-conspirator Ruja Ignatova is on the FBI’s most wanted list.

DeFi & Web3

BIS Papers Explore DeFi Benefits, Risks, and Systemic ‘Fragility’

By Mark Johnston | 22/12/2022

Regulators should address DeFi risks with globally consistent regulatory frameworks. Collateral liquidations in DeFi lead to lasting price impacts.

Structural Regulation

ESMA Issues Guidelines for Operators of DLT Market Infrastructure

By Editors | 22/12/2022

The guidelines include templates firms can use to apply for permission to operate DLT market infrastructure under the EU’s DLT Pilot Regulation.

Emerging Prudential Risks

HKMA Intends to Implement BCBS Cryptoasset Standards

By Editors | 22/12/2022

The HKMA plans to implement the Basel standards on the treatment of cryptoasset exposures locally by 1 January 2025, in accordance with the BCBS timetable.

Cryptocurrency

Audit Firms Are Exiting Relationships with Crypto Clients

By Mark Johnston | 21/12/2022

Mazars and Armanino have stopped serving clients in the crypto sector. BDO is reconsidering its approach to the sector.

Cryptocurrency

FTX Seeks Court Authorisation to Sell Four Businesses

By Editors | 21/12/2022

Embed, LedgerX, FTX Japan and FTX Europe have maintained segregated customer accounts and have solvent balance sheets.

Stablecoins

ASIC Files Suit Against Finder Wallet Over Crypto-related Product

By Sanday Chongo Kabange | 20/12/2022

Finder Wallet offered a crypto-related product that paid customers a return for use of their funds, like a debenture, ASIC says.

Cryptocurrency

Indonesian Lawmakers Pass Major Financial Sector Reforms

By Editors | 20/12/2022

The legislation changes the central bank’s mandate, shifts crypto sector oversight to OJK, makes a digital rupiah legal tender, and introduces a carbon trading framework.