Europe

Crypto / Digital Assets

MAS Establishes Project Guardian Policymaker Group

By Editors | 30/10/2023

MAS will work with Japan’s FSA, the UK’s FCA and Switzerland’s FINMA to advance the development of tokenised digital assets.

AML / KYC

ESMA Forced to Pause Withdrawal of UAE CCP Recognition

By Editors | 30/10/2023

ESMA’s decision to withdraw its recognition of the Dubai Commodities Clearing Corporation is effectively suspended.

Market Infrastructure

ESMA Recognises Indonesia’s IDClear as Third Country CCP

By Editors | 29/10/2023

The recognition will make it easier and more cost-effective for European counterparties to access Indonesia’s derivatives market.

AML / KYC

UK Ushers in New Laws to Fight Fraud and Financial Crime

By Sanday Chongo Kabange | 27/10/2023

The Economic Crime and Corporate Transparency Act received royal assent. The law enables crypto seizures and introduces a ‘failure to prevent fraud’ offence.

Crypto / Digital Assets

UK FCA Identifies Three Common Issues with Crypto Marketing

By Sanday Chongo Kabange | 26/10/2023

The FCA expects firms authorised to approve financial promotions of cryptoasset firms to take their regulatory obligations seriously.

Enforcement

Authorities Take Down Ragnar Locker Ransomware Gang

By Mark Johnston | 25/10/2023

Europol said a joint operation resulted in the arrest of the main perpetrator behind the ransomware group and the takedown of its infrastructure.

UK Regulators Announce Removal of Banker Bonus Cap

By Editors | 25/10/2023

The BOE and FCA have scrapped rules for banks, building societies, and investment firms which cap bonuses at twice annual salary.

Crypto / Digital Assets

Euroclear Launches DLT-based Digital Securities Issuance Service

By Editors | 25/10/2023

The inaugural Digitally Native Notes were issued by the World Bank on LuxSE, raising €100mn to finance sustainable development activities.

AML / KYC

FATF Removes Switzerland from Enhanced Follow-Up

By Manesh Samtani | 24/10/2023

The FATF upgraded Switzerland’s ratings on two recommendations in response to law reforms that took effect at the beginning of 2023.