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Cryptocurrency
MAS Mulls New Restrictions on Retail Investment in Crypto
By Editors | 05/07/2022
New measures may include placing limits on retail participation, and introducing new rules on the use of leverage in crypto transactions.
Cryptocurrency
Crypto Hedge Fund Three Arrows Capital Files for Bankruptcy
By Manesh Samtani | 05/07/2022
The bankruptcy filing came three days after Three Arrows entered into liquidation in the British Virgin Islands.
Stablecoins
ANZ Completes First Stablecoin Transaction Involving Carbon Credit
By Editors | 05/07/2022
ANZ client Victor Smorgon Group successfully purchased tokenised Australian carbon credits from Zerocap using A$DC as a medium of exchange.
Cryptocurrency
Binance to Help Cambodia Develop Crypto Regulatory Framework
By Editors | 04/07/2022
Binance signed an MoU with Cambodia’s securities regulator to support the development of a legal framework for regulating digital asset businesses.
Fraud, Scams & Cybercrime
US DOJ Files Charges Against Six Individuals Over Crypto Frauds
By Editors | 04/07/2022
Criminal charges were filed in four separate cases of alleged crypto-related fraud, including the largest known NFT scheme charged to date.
Emerging Prudential Risks
FSB Plenary Highlights Continued Financial Stability Concerns
By Editors | 03/07/2022
The FSB expressed concerns over the outlook for financial stability, volatility in commodity markets, and strains in crypto-asset markets.
Anti-Money Laundering
Limited Progress Made on Travel Rule Implementation: FATF
By Editors | 01/07/2022
Jurisdictions have made “only limited progress” over the last year to implement the travel rule in the crypto industry, the FATF says.
Cryptocurrency
MAS Reprimands Crypto Hedge Fund Three Arrows Capital
By Editors | 01/07/2022
MAS said Three Arrows Capital exceeded its allowable AUM and gave the regulator a false representation. The company entered into liquidation this week.
Capital Adequacy
BCBS Issues New Consultation on Banks’ Cryptoasset Exposures
By Manesh Samtani | 01/07/2022
Total bank exposures to Group 2 cryptossets would be capped at 1% of Tier 1 capital. Banks would be permitted to recognise hedging for certain Group 2 cryptoassets.
Anti-Money Laundering
EU Lawmakers Agree on AML Framework for Crypto
By Manesh Samtani | 30/06/2022
Crypto asset service providers will be required to implement customer protection measures and robust AML/CFT safeguards including the travel rule.
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