CRYPTO / DIGITAL ASSETS

AML / KYC

FATF Plenary Packs Powerful Punch

By Manesh Samtani | 25/06/2021

The FATF finalised reports on technological innovation, environmental crime, and asset recovery. New guidance on PF risk and a white paper on beneficial ownership were also finalised.

AML / KYC

Korean Officials Seize Cryptocurrency from Tax Evaders

By Editors | 23/06/2021

Investigators had to compare tax evaders’ mobile phone numbers against those registered at crypto exchanges in order to track down their account details.

AML / KYC

PBOC Directs Banks & Alipay to Stamp Out Crypto Activity

By Manesh Samtani | 22/06/2021

Financial institutions are asked to identify the capital accounts of crypto exchanges and OTC dealers, and cut off their payment channels.

Fintech / Regtech

China’s Sichuan Province Bans Crypto Mining Activity

By Sanday Chongo Kabange | 22/06/2021

Over 90% of China’s bitcoin mining capacity has effectively been shut down, after bans were imposed in key mining hubs in the country.

Crypto / Digital Assets

Indian Banks to Develop Blockchain System for LCs

By Ranamita Chakraborty | 21/06/2021

The initiative will eliminate paperwork, reduce transaction processing time and offer a secure environment for processing LCs.

Crypto / Digital Assets

InvestHK Launches 2021 Fintech Fast Track Programme

By Sanday Chongo Kabange | 21/06/2021

Selected companies will be showcased prominently at Hong Kong Fintech Week 2021 which takes place from 1 to 5 November.

AML / KYC

Korea Extends AML Compliance Deadline for Crypto Sector

By Sanday Chongo Kabange | 20/06/2021

The extension is primarily being allowed to ensure regulators can process applications received before the 24 September deadline.

Crypto / Digital Assets

More Chinese Provinces Restrict Crypto Mining Activity

By Sanday Chongo Kabange | 15/06/2021

Qinghai, Yunnan, and a prefecture in Xinjiang have joined Inner Mongolia in imposing restrictions on cryptocurrency mining.

AML / KYC

UOB Pilots Digital Signing Capability via SingPass

By Editors | 14/06/2021

UOB is testing the use of GovTech’s ‘Sign with Singpass’ to allow a set of retail and corporate customers to confirm transactions and product applications.