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Structural Regulation
NZ FMA Proposes to Update Guidance on Broker Obligations
By Editors | 28/09/2022
The FMA is proposing to update its 2014 guidance to align with regulatory updates and incorporate additional guidance for custodians.
Cryptocurrency
Korea Has Seized $182m in Crypto from Tax Delinquents
By Editors | 27/09/2022
The largest seizure from a single delinquent taxpayer was worth around KRW 12.5 billion, or about USD 8.8 million.
CBDCs
RBA to Commence CBDC Pilot Tests Early Next Year
By Editors | 26/09/2022
The CBDC will be called eAUD. Industry participants are invited to propose CBDC use cases, and to participate in testing. Expressions of interest are due by 31 October.
Anti-Money Laundering
UK Introduces Economic Crime Bill to Parliament
By Editors | 26/09/2022
The Bill targets beneficial ownership transparency and will also make it easier for law enforcement to seize and recover cryptoassets.
Cryptocurrency
Korea’s New Rules for Crypto Will Have to Wait
By Sanday Chongo Kabange | 26/09/2022
An FSC official said new legislation for the crypto sector will only be effective if there is international consistency.
Fraud, Scams & Cybercrime
Interpol Issues Red Notice for Terraform Labs Founder
By Mark Johnston | 26/09/2022
The red notice for Do Kwon was issued at the request of Korean prosecutors, who say he is wanted for alleged capital market violations.
Tokenisation
ICMA Publishes Guidance on DLT-based Bonds
By Editors | 26/09/2022
The FAQs are designed to provide “non-experts” a basic understanding of DLT bonds and their impact on capital markets.
Cryptocurrency
India to Finalise Stance on Crypto in Early 2023 – Reports
By Editors | 25/09/2022
The government plans to finalise its stance by February-March 2023, ahead of a May deadline to respond to the FATF.
Cryptocurrency
Indonesia to Tighten Rules for Crypto Exchanges – Report
By Editors | 25/09/2022
Crypto exchanges will have to post Indonesian citizens resident in the country to at least two-thirds of their board seats.
Custody & Infrastructure
US SEC Accounting Guidance Disrupts Banks Crypto Projects
By Mark Johnston | 24/09/2022
Accounting guidance issued in March has reportedly forced US listed banks that were building out crypto offerings to suspend their plans.
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