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International
Crypto / Digital Assets
Class Action Alleges Banks, VC Firms Were Complicit in FTX Fraud
By Manesh Samtani | 01/03/2023
The lawsuit seeks damages from four banks, one banking executive, ten investment firms, a law firm, and two accounting firms.
AML / KYC
FATF Agrees Roadmap to Strengthen Adoption of Crypto AML Standards
By Editors | 28/02/2023
The roadmap will include a stocktake of steps taken globally to regulate and supervise virtual asset service providers.
AML / KYC
New G7 Sanctions Target Russian Financial Services, Evasion Networks
By Manesh Samtani | 27/02/2023
US Treasury says sanctioned actors use smaller banks and wealth management firms to evade sanctions. FATF has suspended Russia’s membership.
Market Infrastructure
FSB Sets Out Next Steps for Enhancing Cross-border Payments
By Editors | 26/02/2023
The next phase of work focuses on payment system interoperability, legal and regulatory frameworks, and cross-border data exchange.
AML / KYC
FATF Adds South Africa, Nigeria to Grey List
By Editors | 25/02/2023
The South African Reserve Bank said it has a zero-tolerance approach to abuse of the financial system by money launderers or terrorist financiers.
AML / KYC
FATF Suspends Russia’s Membership Over Ukraine War
By Editors | 25/02/2023
Russia’s actions “unacceptably run counter” to the FATF core principles aiming to promote security, safety, and the integrity of the global financial system.
Big Picture
BIS Head Outlines Vision for Future Monetary System
By Mark Johnston | 24/02/2023
Agustin Carstens said the disappearance of $2tr in value from the crypto market in 2022 proves that cryptocurrencies cannot be a viable alternative to fiat.
Market Infrastructure
FSB, CPMI Seek Nominations for Cross-border Payments Task Forces
By Editors | 24/02/2023
The FSB and CPMI are inviting firms to nominate senior representatives to two separate task forces that will focus on enhancing cross-border payments.
Market Infrastructure
DSB Announces Launch Dates for UPI Service
By Editors | 24/02/2023
The UPI UAT environment and a client onboarding and support platform will be available from 17 April, and the UPI production environment from 16 October.
Crypto / Digital Assets
Digital Assets Industry is Shifting Focus to “Real Utility”: Report
By Editors | 22/02/2023
New report from Oliver Wyman, Elevandi and MAS says the downturn in the digital assets ecosystem could mark an inflection point.
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