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Crypto / Digital Assets
China Renews Crackdown on Cryptocurrencies
By Manesh Samtani | 19/05/2021
Three state-backed associations representing internet firms, banks, and payments companies have barred their members from providing crypto-related services to customers.
AML / KYC
Proliferation Financing Risk: A Due Diligence Challenge
By Manesh Samtani | 19/05/2021
Measures for detecting proliferation financing risk are designed to help identify sanctions evasion and uncover the beneficial owners of corporate entities.
Crypto / Digital Assets
RBI Asks Banks to Cut Ties With Cryptocurrency Exchanges
By Sanday Chongo Kabange | 17/05/2021
The unofficial guidance comes as Indian lawmakers look to introduce a ban on cryptocurrencies and penalise anyone dealing in them.
Fintech / Regtech
BOK Seeks Authority to Monitor Crypto Transactions – Report
By Sanday Chongo Kabange | 15/05/2021
The BOK plans to use existing authorities to monitor crypto transactions, amid fears that risks in the sector could flow to the broader financial system.
AML / KYC
Taiwan FSC Fines Citibank, DBS for AML Violations
By Editors | 14/05/2021
The regulator cited failures related to customer due diligence, review mechanisms, transaction monitoring, risk assessment, and investigations.
Big Picture
SWIFT, Accenture Explore Real-world Implications of CBDCs
By Sanday Chongo Kabange | 13/05/2021
SWIFT is planning trials in the coming months to explore how its platform could interact with CBDCs in cross-border payments.
AML / KYC
Korean Lawmakers Push for Tougher Crypto Legislation
By Sanday Chongo Kabange | 11/05/2021
Lawmakers are pushing for tougher crypto legislation to protect crypto investors against unfair practices and price manipulation.
Crypto / Digital Assets
Korea: Police Raid Crypto Exchange, Freeze $214m in Assets
By Editors | 08/05/2021
Crypto exchange V Global is alleged to have engaged in an illegal multi-level marketing scheme to lure investors.
AML / KYC
Thailand to Tighten Crypto Exchange Account Opening Rules
By Sanday Chongo Kabange | 05/05/2021
Crypto exchanges will reportedly be required to verify customers’ identities using special machines that require Thai national IDs and physical presence.
Crypto / Digital Assets
UPDATED – BaFin Says Binance Stock Tokens Violate Securities Laws
By Sanday Chongo Kabange | 05/05/2021
The tokens require the publishing of a prospectus, “minimum information required by law” for the sale of an investment product.
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