Crypto / Digital Assets

AML / KYC

BOT Warns Against Using Crypto As Means of Payment

By Sanday Chongo Kabange | 18/07/2021

If the use of digital assets as a means of payment for goods and services become widespread, the BOT will take action in coordination with the SEC.

AML / KYC

SFC Issues Warning on Unregulated Virtual Asset Platforms

By Editors | 18/07/2021

Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

Crypto / Digital Assets

Vietnam to Explore Creation of Digital Currency

By Sanday Chongo Kabange | 18/07/2021

Vietnam’s strategy on digitising the local government includes directions for the SBV to pilot the use of a digital currency.

AML / KYC

European Commission Seeks Establishment of New AML Authority

By Ranamita Chakraborty | 15/07/2021

The new authority would be able to directly oversee the financial firms operating across multiple member states and issue penalties for AMLviolations.

AML / KYC

Korea to Require Overseas Crypto Exchanges to Register with KoFIU

By Editors | 14/07/2021

Cryptocurrency exchanges based outside Korea would be required to register with KoFIU if they use the Korean won for settlement.

AML / KYC

Stablecoins Increasingly Used in Money Laundering, PBOC Says

By Editors | 12/07/2021

PBOC governor Fan Yifei says stablecoins are increasingly being used as a tool for illegal activities and money laundering.

Crypto / Digital Assets

RBNZ to Consult on Potential CBDC Issuance

By Sanday Chongo Kabange | 08/07/2021

The RBNZ plans to consult on broad concepts of money and cash stewardship, the potential for a CBDC, and issues arising from crypto assets and stablecoins.

Crypto / Digital Assets

Philippine Bourse Seeks to Launch Crypto Business – Report

By Sanday Chongo Kabange | 07/07/2021

CEO Ramon Monzon said the PSE should be the exchange platform for crypto assets because it already has the trading infrastructure and investor safeguards in place.

AML / KYC

FATF Urges Faster Implementation of Travel Rule in Crypto Sector

By Editors | 06/07/2021

Slow implementation of travel rule requirements is acting as a disincentive to VASPs to invest in the necessary technology and compliance infrastructure.