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Anti-Money Laundering
New EU-Wide AML Authority Expected to Oversee Crypto Firms
By Mark Johnston | 01/03/2022
A group of EU member states led by Germany is seeking to make the inclusion of cryptocurrency firms under the AMLA’s remit more explicit.
Fraud, Scams & Cybercrime
BitConnect Founder Indicted for Running Crypto Ponzi Scheme
By Editors | 28/02/2022
BitConnect founder Satish Kumbhani and his co-conspirators obtained fraudulent gains from investors amounting to about USD 2.4 billion.
Cryptocurrency
The SFC Approach to Virtual Assets Prioritises Investor Protection
By Manesh Samtani | 28/02/2022
Since 2018, the steps taken by the SFC to regulate the virtual asset space have prioritised investor protection, first and foremost.
Cryptocurrency
JPX Acquires Stake in Mitsui-Backed Crypto Exchange
By Editors | 28/02/2022
JPX says the investment will help it strengthen its relationship with the issuer of ZipangCoin, a new digital currency pegged to the price of gold.
Tokenisation
ICE Makes ‘Strategic Investment’ in Digital Securities Platform tZero
By Editors | 24/02/2022
tZERO operates a digital marketplace for unique private assets, public equities, cryptocurrencies, and other digital assets, including NFTs.
Cryptocurrency
Russia Considers Framework for Regulating Cryptocurrencies
By Sanday Chongo Kabange | 24/02/2022
The draft proposes requirements for VASPs relating to corporate governance, tax reporting, data storage, internal controls, risk management, client identification/KYC and segregation of assets.
Cryptocurrency
KB Asset Management Unveils Plans to Launch Crypto Funds
By Editors | 24/02/2022
KB Asset Management is working towards launching a crypto ETF, a crypto-themed equity fund, and potentially a hybrid fund that includes crypto exposure.
Tokenisation
Korean Think Tank Classifies Some NFTs as Virtual Assets
By Editors | 23/02/2022
NFTs used in games and for payments can satisfy the definition of virtual assets and may be subject to AML obligations, the Korea Institute of Finance said.
CBDCs
GFMA Paper Outlines Benefits and Challenges of Wholesale CBDCs
By Editors | 23/02/2022
A wholesale CBDC must be crafted with public and private sector collaboration. Implementation timelines should be set cautiously.
Structural Regulation
SFC Confirms Plans to Regulate Fund Trustees, Custodians
By Manesh Samtani | 23/02/2022
A new regulated activity (RA 13) will be introduced which will subject trustees and custodians of public funds to licensing requirements and ongoing regulatory supervision.
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