Crypto / Digital Assets

    Crypto / Digital Assets

    MAS Sets Out Regulatory Approach for Payment Token Derivatives

    By Editors | 18/05/2020

    MAS will regulate payment token derivatives offered by approved exchanges – i.e. SGX Derivatives, APEX, Ice Futures – but will not regulate such products offered by other entities.

    Fintech / Regtech

    Temasek Joins Libra Association as First Asia Pacific Backer

    By Editors | 17/05/2020

    Temasek’s participation in the Libra Association will allow it to contribute toward a regulated global network for cost effective retail payments.

    AML / KYC

    Industry Bodies Publish New Messaging Standard for Virtual Assets

    By Editors | 13/05/2020

    The messaging standard is aimed at helping virtual asset service providers comply with FATF requirements to collect and transfer originator and beneficiary information.

    AML / KYC

    FATF Offers Policy Guidance for Managing Covid-19 Related AML Risks

    By Editors | 05/05/2020

    FATF describes the ways in which AML/CFT policy responses can help support implementation of Covid-19 response measures, while also managing new risks and vulnerabilities.

    AML / KYC

    US Prosecutors Target Foreign Bank Records in North Korean Cyber Hunt

    By Nick Turner | 05/05/2020

    US authorities may be signalling their intent to increasingly use the PATRIOT Act to gain access to foreign bank records in DPRK sanctions investigations, says Nick Turner at Steptoe & Johnson.

    Crypto / Digital Assets

    FSA Japan Certifies Two SROs as New Crypto Laws Take Effect

    By Editors | 04/05/2020

    The certifications took effect from 1 May, the same day the FSA said it would start enforcing new laws on crypto assets.

    AML / KYC

    G20 TechSprint Invites Firms to Develop Regtech, Suptech Solutions

    By Editors | 29/04/2020

    Private firms are invited to develop solutions to improve regulatory reporting, crypto asset AML monitoring, and supervisory information sharing.

    AML / KYC

    Singapore’s Financial Industry’s Role in Preventing Sanctions Evasion

    By Jamil Ahmed | 23/04/2020

    Given its geographical location and reputation as a major finance and trading hub, Singapore firms need to take extra care to avoid implicating themselves in sanctioned transactions.

    AML / KYC

    US Agencies Issue Alert on North Korea Cyber Threat

    By Manesh Samtani | 22/04/2020

    The advisory highlights the powers US agencies have to subpoena foreign FIs that maintain a correspondent bank account in the US to gain access to customer records stored overseas.

    Crypto / Digital Assets

    Malaysian Police Arrest 14 Chinese Nationals in Crypto Scam

    By Editors | 20/04/2020

    The group was found to be impersonating successful investors and using WeChat and QQ group chats to lure mainland victims into investing.

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