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United States
Enforcement
Terra Founder Jailed for Four Months in Montenegro
By Mark Johnston | 22/06/2023
Do Kwon and another former Terra executive were arrested in Montenegro in March for possessing fake passports.
Enforcement
Philippines: Lenders, Subcontractors Face Charges for Borrower Harassment
By Editors | 21/06/2023
Charges filed under new consumer protection law which in May 2022 explicitly outlawed the harassment and humiliation of borrowers.
Enforcement
US Jury Finds Ex-Goldman Sachs VP Guilty of Insider Trading
By Mark Johnston | 21/06/2023
Brijesh Goel tipped his friend about six potential mergers that Goldman Sachs was considering funding.
Fintech / Regtech
Philippines, India Agree to Collaborate on FinTech Regulation
By Ranamita Chakraborty | 21/06/2023
Key representatives from the central banks and regulatory bodies of both countries have formed a joint working group.
AML / KYC
Philippines Steps Up Efforts to Exit FATF ‘Grey’ List
By Ranamita Chakraborty | 20/06/2023
The Philippines’ Anti-Money Laundering Council’s executive director Matthew M. David talks to Regulation Asia about its action plan to take the country out of the Financial Action Task Force’s ‘Grey’ List.
Sanctions
US, UK Prepare to Use Frozen Russian Assets to Help Ukraine
By Manesh Samtani | 19/06/2023
New US law would allow frozen Russian assets to be confiscated and used to finance Ukraine’s reconstruction.
Big Picture
Richmond Fed Offers Insights on the Use of AI in Banking
By Manesh Samtani | 19/06/2023
Bank supervisors express optimism regarding banks’ ability to leverage AI-based models in credit evaluation, despite the challenges.
Crypto / Digital Assets
US FDIC Orders OKCoin to Stop Advertising Deposit Insurance
By Sanday Chongo Kabange | 19/06/2023
Crypto firm OKCoin is directed to “immediately” remove misleading statements about deposit insurance or face enforcement action.
Enforcement
NYAG Penalises CoinEx $1.8m for Failure to Register
By Sanday Chongo Kabange | 19/06/2023
CoinEx must implement geoblocking to prevent New York IP addresses from accessing its platform.
AML / KYC
US Court Orders Binance to Isolate US Business from Global Operations
By Manesh Samtani | 19/06/2023
The SEC said the “emergency relief” helps ensure that Binance.US customers are protected and their assets remain in the US.
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