CRYPTO / DIGITAL ASSETS

    Crypto / Digital Assets

    Malaysia SC to Engage with Digital Asset Wallet Providers

    By Editors | 24/07/2020

    Digital asset wallet providers are asked to contact the SC for an engagement on their business operations and to provide feedback on a regulatory framework for such providers.

    Capital / Liquidity

    Korean Regulators Approves K Bank Recapitalisation Plan

    By Editors | 23/07/2020

    K Bank’s recapitalisation plan was halted last April, forcing Korea’s first internet-only bank to stop offering loan products. It is now looking to regain ground lost to Kakao Bank.

    AML / KYC

    MAS Seeks Expanded Powers to Address Financial Sector Risks

    By Manesh Samtani | 21/07/2020

    MAS proposes to expand its powers to issue prohibition orders, regulate virtual asset service providers, and impose technology risk management requirements on firms.

    AML / KYC

    Revised FATF Standards ‘Clearly Apply’ to Stablecoins

    By Editors | 09/07/2020

    Stablecoins are better placed than many virtual assets to achieve mass-adoption, which makes them vulnerable to AML/CTF risk, the FATF says.

    AML / KYC

    FATF Highlights Progress to Adopt AML Standards for Virtual Assets

    By Manesh Samtani | 08/07/2020

    35 of 54 reporting jurisdictions have implemented the FATF Standards on virtual assets and VASPs, and progress has been made to develop technology for travel rule implementation.

    AML / KYC

    Using Privacy Preserving Analysis to Tackle Financial Crime

    By Manesh Samtani | 07/07/2020

    Privacy enhancing technologies, or PETs, may provide a “similar or, even, identical utility” compared to analysis of the raw data in some use-cases, says an FFIS paper.

    AML / KYC

    FATF Progresses Key Initiatives at June 2020 Plenary

    By Editors | 30/06/2020

    The Plenary discussed progress on virtual assets, stablecoins, illegal wildlife trade, and work on an enhanced framework for mutual evaluations and follow-up.

    AML / KYC

    NZ Police Seize $90m Allegedly Laundered with Bitcoin

    By Editors | 25/06/2020

    The seized bank funds, said to be connected to suspected Russian money launderer Alexander Vinnik, represent the largest ever asset restraint in New Zealand police history.

    Crypto / Digital Assets

    India Considers Next Steps to Regulate Cryptocurrency

    By Editors | 17/06/2020

    Market commentators believe that a recent Supreme Court decision has prompted the government to work towards a new regulatory approach, rather than an outright ban.

    AML / KYC

    Chinese Police Freeze 4,000 Bank Accounts in Crypto Probe

    By Editors | 11/06/2020

    Guangdong police have reportedly frozen about 4,000 bank accounts belonging to cryptocurrency traders in a crackdown on illicit activities.

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