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Cryptocurrency
China Blocks 13 Crypto Apps Found to be Locally Accessible
By Editors | 16/10/2022
13 mobile apps for crypto trading that were still accessible in China have been removed from app stores at the direction of a Beijing court.
Stablecoins
Tether Eliminates Commercial Paper from Stablecoin Reserves
By Manesh Samtani | 15/10/2022
“Reducing commercial papers to zero demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market,” the company said.
Cryptocurrency
Thai SEC Orders Bitkub to Fix Standards of Native Token
By Editors | 15/10/2022
The SEC says KUB Coin’s so-called “adminTransfer” function could be used by attackers to transfer digital assets from any wallet.
Cryptocurrency
FASB is Moving to Fair Value Accounting for Crypto Assets
By Manesh Samtani | 14/10/2022
The FASB has decided to move away from the current impairment model in favour of fair value accounting for crypto assets.
PEPs & Sanctions
US Treasury Facing 2nd Lawsuit Over Tornado Cash Sanctions
By Editors | 14/10/2022
Think tank Coin Center argues that the Tornado Cash sanctions harm US citizens and their ability to transact privately using the Ethereum network.
Custody & Infrastructure
BNY Mellon Launches Digital Asset Custody Platform
By Editors | 13/10/2022
BNY Mellon is the first systemically important US bank to launch a crypto custody platform, leveraging technology from Fireblocks and Chainalysis.
Conduct, Culture & Accountability
IOSCO Offers Guidance on Curbing Online Misconduct
By Editors | 13/10/2022
IOSCO’s new report offers recommendations to address risks from online marketing and distribution of financial products targeting retail investors.
Cryptocurrency
Coinbase, Blockchain.com Win In-principle Approval in Singapore
By Editors | 12/10/2022
MAS has granted in-principle approval to Coinbase and Blockchain.com. Currently, nine firms have full licences to offer regulated crypto services in Singapore.
Emerging Prudential Risks
FSB Updates G20 on Work to Strengthen Financial System Resilience
By Editors | 12/10/2022
FSB chair Klaas Knot says the outlook for global financial stability remains challenging, citing tighter financial conditions and higher inflation.
PEPs & Sanctions
US Treasury Penalises Crypto Exchange Bittrex $29mn
By Editors | 12/10/2022
OFAC and FinCEN took joint action for sanctions screening failures and violations of AML and SAR reporting requirements.
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