Crypto / Digital Assets

AML / KYC

Singapore Publishes Money Laundering Risk Assessment

By Manesh Samtani | 21/06/2024

Banking is Singapore’s highest risk sector. A key ML threat is cyber-enabled fraud, typically orchestrated by criminal syndicates located overseas.

Crypto / Digital Assets

Korea FSS Releases Findings from Consultations With VASPs

By Mark Johnston | 20/06/2024

The FSS identified some deficiencies, including issues relating to the segregation of user assets, cold wallet management, and internal controls.

Crypto / Digital Assets

EBA Delivers Final Batch of MiCA Technical Standards

By Manesh Samtani | 19/06/2024

14 technical standards and 3 guidelines have been finalised and published, completing EBA’s delivery of technical standards under the MiCA regime.

Crypto / Digital Assets

Indian Court Rules Crypto Dealings Are Not Illegal

By Ajoy K Das | 19/06/2024

The court said that mere dealing in cryptocurrency “cannot be treated as illegal in any manner” as existing financial laws do not define it as ‘money’.

Enforcement

‘Gemini Earn’ Investors Secure Full Recovery of Crypto Assets

By Editors | 18/06/2024

The NYAG’s claims against Gemini are now fully resolved, with Gemini Earn users receiving full recovery of the digital assets owed to them.

Crypto / Digital Assets

BOT Launches “Enhanced” Sandbox for Programmable Payments

By Editors | 17/06/2024

The sandbox allows testing of payments where transaction conditions are automatically set using DLT and smart contracts.

Crypto / Digital Assets

BIS Publishes Results of Latest CBDC, Crypto Survey

By Editors | 17/06/2024

Central banks are now more likely to issue a wholesale CBDC than a retail CBDC within the next six years.

Market Infrastructure

BIS Innovation Hub to Explore RTGS to DLT Interoperability

By Editors | 17/06/2024

Project Meridian FX will explore interoperability between RTGS systems and new payments technologies like DLT.

AML / KYC

Malaysia SC Issues Revised AML/CFT/CPF Guidelines

By Editors | 17/06/2024

The updated guidelines include requirements to identify and perform due diligence on counterparty VASPs before transmitting information to them.