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United States
Anti-Money Laundering
Bankman-Fried Lawyers Request Access to Crypto Held by FTX
By Editors | 31/01/2023
The DOJ asked for a communications ban against Bankman-Fried as an additional bail condition. Last week, a 116-page list of the FTX’s creditors was filed to the bankruptcy court.
Emerging Prudential Risks
US Fed Refuses Application by Crypto-focused Custodia Bank
By Editors | 31/01/2023
The Fed Board considers that Custodia’s business model and proposed focus on crypto-assets presented “significant safety and soundness risks”.
Structural Regulation
Philippine SEC Issues Consumer Protection Rules for Consultation
By Editors | 31/01/2023
The rules will implement the requirements of the Financial Products and Services Consumer Protection Act, which passed in May last year.
Fraud, Scams & Cybercrime
US, EU Authorities Take Down HIVE Ransomware Gang
By Editors | 30/01/2023
“Simply put, using lawful means, we hacked the hackers,” said deputy attorney general Lisa Monaco.
PEPs & Sanctions
US Expands Sanctions Against Russia’s Wagner Group
By Editors | 30/01/2023
Russian mercenary organisation Wagner Group was re-designated as a foreign person that constitutes a “significant transnational criminal organisation”.
Clearing & Post-Trade
DTCC Publishes Testing Framework for US Move to T+1 Settlement
By Editors | 30/01/2023
The testing framework assumes a September 2024 implementation date. Testing dates may have to change as regulators have not yet confirmed an implementation date.
Cryptocurrency
White House Calls for Progress on US Crypto Legislation
By Manesh Samtani | 30/01/2023
Congress should strengthen disclosure requirements for crypto firms and expand regulators’ powers to prevent misuses of customers’ assets and mitigate conflicts of interest, officials say.
CBDCs
Digital Dollar Project Calls for US Leadership on CBDC Standard Setting
By Mark Johnston | 30/01/2023
The US’s cautious approach to CBDCs could negatively impact the domestic economy, threaten the dollar’s dominance and have implications for sanctions evasion.
PEPs & Sanctions
FinCEN Warns of Sanctions Evasion in Commercial Real Estate
By Editors | 29/01/2023
New FinCEN alert lists potential red flags and typologies involving attempted sanctions evasion in the CRE sector by sanctioned Russians and their proxies.
Fraud, Scams & Cybercrime
FBI Confirms DPRK Hackers Behind $100m Horizon Bridge Crypto Theft
By Editors | 29/01/2023
The FBI was able to freeze a portion of the stolen funds, in coordination with some virtual asset service providers.
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