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PEPs & Sanctions
OFAC Issues Guidance on Transacting With Tornado Cash
By Editors | 18/09/2022
US persons may request a specific licence from OFAC to complete transactions involving sanctioned crypto mixer Tornado Cash.
Sustainable Finance
MAS Launches New Transformation Map for Financial Industry
By Editors | 16/09/2022
MAS will promote the FX trading ecosystem, enhance fund structures, support fintechs, improve its bond infrastructure, and scale up sustainable and transition financing.
Emerging Prudential Risks
BCBS Advances Work to Ensure Banking System Resilience
By Editors | 15/09/2022
The BCBS agreed to continue assessing bank use of AI/machine learning, finalise a crypto framework by year-end, and develop measures to address climate risks.
Cryptocurrency
US Heavyweights Announce Plans to Launch Crypto Exchange
By Editors | 15/09/2022
EDX Markets is backed by Citadel Securities, Fidelity Investments, Charles Schwab, Virtu Financial, Sequoia Capital and Paradigm.
Fraud, Scams & Cybercrime
Korea Issues Arrest Warrants for Terra Founder, Five Others
By Editors | 14/09/2022
Prosecutors say Terra coins were investment securities under Korea’s capital markets law. Do Kwon is alleged to have committed fraud.
Tokenisation
Asset Tokenisation Increasingly Relevant in ‘Crypto Winter’ – Report
By Manesh Samtani | 14/09/2022
A new report from BCG and ADDX projects a 50-fold increase in tokenised assets by 2030, bringing the market’s value to over $16 trillion.
Cryptocurrency
US SEC to Establish New Office for Crypto-related Filings
By Manesh Samtani | 13/09/2022
In a recent speech, SEC chair Gary Gensler highlighted the need for better disclosures for crypto investors. He also said the “vast majority” of crypto tokens are securities.
Cryptocurrency
SFC Allows HashKey to Manage Funds Comprising 100% Crypto
By Editors | 13/09/2022
HashKey says it will be allowed to manage funds exclusively investing in virtual assets in compliance with the SFC’s regulations
Anti-Money Laundering
Australian Federal Police Forms Cryptocurrency Unit
By Editors | 13/09/2022
The new unit will target assets and provide investigative tracing capabilities for all of the AFP’s commands across all of its businesses.
Anti-Money Laundering
Five Korean Crypto Exchanges Face AML Penalties
By Editors | 12/09/2022
Most of the funds involved in Woori and Shinhan’s suspicious wire transfers came from five crypto exchanges and were not reported.
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