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Cryptocurrency
US Tax Filing Instructions Amendments Includes NFT Reference
By Editors | 24/10/2022
The new language obliged individual taxpayers to report income received from disposals of NFTs, as well as any other “digital asset”.
KYC & CDD
Philippine SEC Sets Out Penalties for Disclosure Violations
By Mark Johnston | 24/10/2022
Directors, trustees, and officers can be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.
PEPs & Sanctions
Sri Lanka Will Not Adopt Russia’s Mir Card Scheme
By Editors | 23/10/2022
The CBSL said it is not in a position to consider Russia’s request to operate the Mir card scheme in Sri Lanka, due to US sanctions.
PEPs & Sanctions
US Sanctions, Files Criminal Charges Against Russians
By Editors | 21/10/2022
The sanctions target a procurement network supplying technology to Russia. The indictment explains that crypto was used to facilitate the payments.
Structural Regulation
IOSCO Appoints New Chair, Two Vice Chairs to Board
By Editors | 20/10/2022
IOSCO’s new chair is Jean-Paul Servais, chairman of Belgium’s FSMA. The two new vice chairs are the FSA’s Ariizumi Shigeru and the CFTC’s Rostin Behnam.
Anti-Money Laundering
Philippine May Pass Bank Secrecy Law Amendments Next Month
By Editors | 20/10/2022
The amendments will allow the BSP to look into deposit accounts for inquiries into fraud, serious irregularity, and unlawful activity.
Structural Regulation
CFTC Issues No-Action Relief for Korean Stock Indices
By Editors | 20/10/2022
The relief will continue until the affirmation, termination or denial of the request for CFTC certification, or 24 April 2023 – whichever is earlier.
Cryptocurrency
US Regulators Probe Failed Crypto Firm Three Arrows Capital
By Editors | 19/10/2022
The SEC and CFTC are reportedly looking into whether Three Arrows misled investors and violated rules by not registering its business.
PEPs & Sanctions
Canada, Switzerland Sanction More Russians, EU Considers 9th Package
By Manesh Samtani | 19/10/2022
The next round of EU sanctions could include limits on LPG imports, more restrictions against Russian banks, and a ban on the sale of European real estate to Russians.
Payments & Settlements
US FTC Expands Competition Probe Into Visa, Mastercard
By Editors | 18/10/2022
The FTC is investigating whether the security technology used by Visa and Mastercard raises the likelihood that payments over different networks will be rejected.
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