Digital Assets

Cryptocurrency

ASIFMA Publishes Best Practices Guide for Crypto Exchanges 

By Manesh Samtani | 21/06/2018

New report guides digital asset exchanges towards international nest practices for listing processes, market manipulation, pricing and liquidity, AML/KYC and cybersecurity, among other areas.

Anti-Money Laundering

S. Korea FIU to Supervise Crypto Exchanges Like Banks

By JP Reimann | 19/06/2018

Legislation introduced to bring cryptocurrency exchanges under the direct supervision of KoFIU, obligating them to adopt AML/CFT directives including systems to monitor for and report suspicious transactions.

Fraud, Scams & Cybercrime

Cryptocurrency Worth $1.1bn Stolen in H1 2018 – Report

By JP Reimann | 12/06/2018

Theft facilitated by $6.7mn dark web marketplace for crypto-related malware; cryptocurrency exchange most vulnerable to attack.

Tokenisation

PBOC Develops Blockchain System to Digitise Paper Checks

By JP Reimann | 07/06/2018

Central bank to reduce fraud by tokenising checks with blockchain and having operations conducted by smart contracts; new system will remove manual cross-checking process, shorten transaction times to about 3 seconds.

Cryptocurrency

Indonesia Recognises Cryptocurrencies As Commodities

By Garima Chitkara | 07/06/2018

Commodities regulator reportedly introducing futures trading in crypto even as Indonesia’s financial services regulator continues to bar financial firms from trading in any crypto-based instruments.

Cryptocurrency

Cryptocurrency in APAC: Opportunity, Challenge, and Risk

By David Liu | 06/06/2018

Financial institutions are at risk from the inherently opaque nature of cryptocurrency transactions, and require robust compliance programs to mitigating legal, financial, reputational, and regulatory risks.

Cryptocurrency

MAS Warns Eight Crypto Exchanges, Halts ICO Issuer

By JP Reimann | 28/05/2018

Exchanges warned against facilitating trading in digital tokens which constitute securities or futures contracts without MAS authorisation; ICO representing equity ownership halted.

Cryptocurrency

India’s Supreme Court to Hear All Crypto Related Cases

By Manesh Samtani | 25/05/2018

Several petitions received by courts challenging constitutional validity of RBI order barring banks from crypto dealings; next Supreme Court hearing scheduled for 20 July.

Cryptocurrency

Talking Crypto Regulation with Ripple’s Sagar Sarbhai

By Manesh Samtani | 22/05/2018

Regulation Asia sat down with Sagar Sarbhai, Head of Government and Regulatory Relations for APAC and the Middle East at Ripple, to discuss the company’s business proposition and the regulatory challenges it faces across the region.