Digital Assets

Anti-Money Laundering

China: 13 Arrested for Using Crypto to Launder Fraud Proceeds

By Editors | 21/03/2021

The suspects confessed to laundering proceeds from telecoms fraud using Tether, before withdrawing the funds to transfer overseas.

Cloud & Infrastructure

Australia to Expand Scope, Length of Fintech Select Committee

By Editors | 18/03/2021

The FinTech Select Committee’s mandate has been extended from an April deadline to October 2021. A report on its work programme is expected in April.

Stablecoins

BOT Warns Against THB-Denominated Stablecoin

By Sanday Chongo Kabange | 18/03/2021

A stablecoin denominated in Thai baht has been developed overseas. Any activity involving the stablecoin is deemed illegal.

Anti-Money Laundering

Bangladesh Officials Confirm Use of Bitcoin to Finance Terrorism

By Editors | 13/03/2021

Two arrested militants have reportedly confessed to receiving funds through Bitcoin from extremist groups since 2014.

CBDCs

BOT Unveils Results of ‘CBDC for Business’ Project

By Ranamita Chakraborty | 11/03/2021

The BOT found that DLT increases efficiency for B2B payments, despite limitations in supporting large transaction volumes and preserving transaction privacy.

Anti-Money Laundering

FSC Korea Proposes New Penalty Standards for VASPs

By Editors | 11/03/2021

FIs and VASPs can be penalised for failing to report and maintain records of suspicious transactions, and failures to properly manage customers’ transactions records.

Market Abuse

John McAfee Indicted for Crypto-related Fraud, Money Laundering

By Sanday Chongo Kabange | 08/03/2021

McAfee and his associate allegedly used their large Twitter following to promote altcoins and ICOs to investors through a so-called pump-and-dump scheme.

Cryptocurrency

Ripple, Top Execs File Responses to SEC Complaint

By Manesh Samtani | 06/03/2021

At meetings with crypto trading platforms as recently as 2019, SEC staff did not indicate it may have considered XRP a security, Ripple says.

CBDCs

BOK to Establish CBDC Pilot System Within March

By Sanday Chongo Kabange | 01/03/2021

The BOK has almost completed the design and technical study of its CBDC, but does not intend to rush into the pilot before undertaking legal and regulatory assessments.