Crypto / Digital Assets

AML / KYC

Fed Terminates Enforcement Action Against Silvergate Bank

By Editors | 31/07/2024

The enforcement action has been in effect since May 2023 to protect depositors. Silvergate has since completed its liquidation and wind-down plan and paid back depositors.

Crypto / Digital Assets

India to Issue Policy Paper on Crypto ‘Before September’

By Ajoy K Das | 30/07/2024

The paper will include proposals on the scope of cryptocurrency regulations, based on the IMF-FSB roadmap adopted by the G20 last year.

AML / KYC

Interpol Issues Red Notices for Hong Kong Crypto Promoters

By Sanday Chongo Kabange | 30/07/2024

The HKPF had asked Interpol to help locate the crypto promoters over their suspected role in a cryptocurrency deception case.

Crypto / Digital Assets

HKMA Opens Tender for Services to Support CBDC Sandboxes

By Editors | 30/07/2024

Hosting and supporting services would have to support up to 25 participants in the Project Ensemble and e-HKD sandboxes.

Crypto / Digital Assets

New Zealand DIA Issues New AML-CFT Guidance for VASPs

By Sanday Chongo Kabange | 29/07/2024

The guidance clarifies that the travel rule does not apply to transfers to un-hosted/self-hosted wallets, but that customer due diligence is still required.

AML / KYC

A Whole New World for the Financial Action Task Force?

By Fatima Alsancak | 29/07/2024

With the next round of country assessments starting, the new FATF President has a lot of work to do over the next two years.

Crypto / Digital Assets

Swiss FINMA Publishes New Guidance on Stablecoins

By Editors | 29/07/2024

The guidance sets out new rules on deposit guarantees, which stablecoin issuers can obtain from banks instead of obtaining their own banking licences.

AML / KYC

Russian Actors ‘Ubiquitous’ in Global Crypto Crime: TRM Labs

By Editors | 27/07/2024

Sanctioned Russia-based crypto exchange Garantex accounted for 82% of crypto transactions associated with all sanctioned entities internationally in 2023.

Crypto / Digital Assets

UK FCA Fines Coinbase Unit for ‘Repeated’ Regulatory Breaches

By Editors | 26/07/2024

The Coinbase payments subsidiary provided payment services to more than 13,000 “high-risk” customers, despite being subject to restrictions imposed by the FCA.