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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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