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CBDCs
90pc of Central Banks Are Exploring a CBDC, BIS Finds
By Editors | 10/05/2022
More than a third of central banks will soon have legal authority to issue a CBDC. More than two thirds are likely to launch a retail CBDC in the short or medium term.
Cryptocurrency
MAS Grants Fifth DPT Licence Under PSA to Coinhako
By Editors | 10/05/2022
Coinhako is the fifth firm to receive a full DPT licence under the PSA, after TripleA, FOMO Pay, DBS Vickers and Independent Reserve.
Cryptocurrency
Shanghai Court Says Bitcoin is Protected by Law as ‘Virtual Property’
By Darien Choong | 10/05/2022
Shanghai’s High Court said property rights protections apply to Bitcoin because it has a certain economic value and has the attributes of property.
PEPs & Sanctions
OFAC Sanctions Crypto Mixer, 49 More Wallet Addresses
By Editors | 09/05/2022
Crypto mixer Blender.io was used to process over $20.5mn of the crypto stolen from the Axie Infinity hack in March, OFAC said.
Cryptocurrency
Central African Republic Adopts Bitcoin as Legal Tender
By Editors | 06/05/2022
The adoption of Bitcoin as legal tender is expected to make transactions in CAR easier, but the move is seen as part of a power struggle between Russia and France.
Anti-Money Laundering
J5 Publishes Red Flag Indicators to Address NFT Risks
By Editors | 05/05/2022
Tax enforcement agencies provide a list of account and transaction attributes from NFT marketplaces that may indicate fraud or other illicit activity.
KYC & CDD
NYDFS Issues Guidance Recommending Use of Blockchain Analytics
By Editors | 05/05/2022
The guidance emphasises the importance of blockchain analytics in conducting due diligence, transaction monitoring and sanctions screening.
Cryptocurrency
US SEC Expands Enforcement Unit Dedicated to Crypto, Cyber
By Editors | 05/05/2022
The additional resources will be used to prioritise investigations related to crypto asset offerings, exchanges, lending and staking products, as well as DeFi platforms, NFTs and stablecoins.
Tokenisation
FSC Korea Issues New Rules for Fractional Investing Services
By Editors | 05/05/2022
The FSC will classify fractional investment products as securities on a case-by-case basis and require issuing firms to adopt investor protection measures.
Cryptocurrency
S. Korea Set to Delay Capital Gains Tax for Crypto
By Editors | 04/05/2022
President-elect Yoon Seok-yeol is planning to defer the tax to 2025 to allow time for the enactment of a new set of regulations designed to protect consumers.
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