Digital Assets

Fraud, Scams & Cybercrime

FTX Founder Arrested, Charged by SEC, SDNY, CFTC

By Sanday Chongo Kabange | 14/12/2022

US authorities have charged Sam Bankman-Fried for defrauding customers, investors, lenders, and campaign finance violations.

Cryptocurrency

SFC Issues Fresh Warning About Virtual Asset Risks

By Editors | 14/12/2022

The SFC warns that virtual asset platforms may on-lend customer assets or them in investment or other activities, which could potentially lead to a “total loss”.

Cryptocurrency

US SEC Directs Issuers to Detail Exposures to Crypto and Related Impacts

By Editors | 13/12/2022

Separately, US senators asked banking regulators to provide details on banks that have engaged in crypto-related services.

Cryptocurrency

EU Commission Proposes New Tax Transparency Rules for Crypto

By Editors | 13/12/2022

New requirements to report crypto-asset, e-money and digital currency transactions are expected to enter into force on 1 January 2026.

Cryptocurrency

FTX Japan Authorised to Continue Operating to Repay Customers

By Editors | 13/12/2022

The FSA had ordered FTX Japan to suspend business operations by 9 December. The extension until 9 March 2023 will allow it to return funds to users.

Anti-Money Laundering

Chinese Police Arrest 63 Members of Crypto Money Laundering Gang

By Editors | 13/12/2022

The gang is estimated to have laundered up to CNY 12 billion for both domestic and foreign criminal groups using cryptocurrency.

Structural Regulation

UK Proposes Extensive Overhaul of Financial Services Regulations

By Manesh Samtani | 12/12/2022

The reforms include overhauls of the ring-fencing and senior managers regimes, a new green finance strategy, and an investment management exemption for cryptoassets.

Anti-Money Laundering

EU Council Agrees Position on AML/CFT Reform Package

By Manesh Samtani | 11/12/2022

The package includes AML/CFT rules for the crypto sector and a ban on cash payments over EUR 10,000, among other measures.

Cryptocurrency

RBNZ to Start Monitoring Local Use of Crypto, Stablecoins

By Manesh Samtani | 11/12/2022

The monitoring framework will help the RBNZ understand how the market for new forms of money is developing and the implications for the monetary system.