Crypto / Digital Assets

Sanctions

US Appeals Court Overturns Tornado Cash Sanctions

By Editors | 28/11/2024

The court said federal law only gives OFAC the authority to sanction property, and Tornado Cash’s smart contracts do not qualify as property.

AML / KYC

Taiwan FSC Fines Two Crypto Exchanges for AML Violations

By Mark Johnston | 28/11/2024

FSC investigations found lapses involving CDD, transaction monitoring, record-keeping, and suspicious transaction reporting.

Crypto / Digital Assets

UK FCA Unveils Plans for Crypto Regulation, Tokenisation

By Manesh Samtani | 28/11/2024

Several discussion papers and consultations will be issued between now and early 2026. The new crypto regime will go live within 2026.

AML / KYC

Wolfsberg Group Defines Key Terms Related to Digital Assets

By Manesh Samtani | 27/11/2024

The definitions are intended to serve as a foundational reference for assessing ML/TF risks and developing appropriate controls for digital assets.

Crypto / Digital Assets

Japan FSA Considers Tightening Regulations For Crypto

By Thisanka Siripala | 27/11/2024

The FSA is conducting closed door discussions to explore regulating crypto assets as financial products under the Financial Instruments and Exchange Act.

Crypto / Digital Assets

BSP Proposes to Enhance Reporting Requirements for VASPs

By Editors | 26/11/2024

VASPs must submit 13 reports at specified intervals to ensure thorough oversight. A new reporting portal will be implemented by January.

Crypto / Digital Assets

Japan’s FSA to Introduce Lighter Regulations for Crypto Brokers

By Thisanka Siripala | 26/11/2024

The FSA is exploring the creation of a new “intermediary business” with lighter regulations for enterprises handling cryptocurrency and stablecoins.

Crypto / Digital Assets

Korean Court Declares Haru Invest Bankrupt Amid Crypto Fraud

By Nithya Subramanian | 26/11/2024

The ruling paves the way for asset liquidation. A creditors’ meeting is set for February 2025 to chart the recovery process.

Crypto / Digital Assets

Shanghai Court Declares Personal Ownership of Crypto Legal

By Mark Johnston | 26/11/2024

In an opinion piece, a Shanghai judge wrote that cryptocurrency ownership is not illegal for individuals.