Crypto / Digital Assets

AML / KYC

Philippine Banks Directed to Monitor Gaming-related Transactions

By Editors | 25/04/2022

FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.

AML / KYC

Chinese Payments Firms Take Steps to Stop Online Fraud

By Editors | 25/04/2022

Alipay removed more than 170,000 accounts linked to illegal activity, just days after the government issued guidance on combatting internet fraud.

AML / KYC

European Crypto Firms Push Back Against Proposed Regulations

By Editors | 24/04/2022

Crypto firms say requiring them to disclose transaction details and wallet addresses will undermine the privacy and safety of digital asset owners.

Fintech / Regtech

Russia Finalises Bill to Give Crypto Legal Tender Status

By Sanday Chongo Kabange | 23/04/2022

The February version of the bill proposed to only allow crypto to be used as an investment vehicle. A digital ruble will be ready next year.

Fintech / Regtech

APRA Outlines Expectations on Managing Crypto-Asset Risks

By Ranamita Chakraborty | 22/04/2022

Regulated entities looking to launch crypto-asset-related operations should consult their supervisor first. A longer-term prudential framework is being developed.

Capital / Liquidity

Korea FTC Considers Stricter Regulations for Upbit, Bithumb

By Editors | 21/04/2022

Korean companies categorised as “large businesses” are placed under close monitoring and must disclose information on major intracompany dealings, board decisions and shareholders.

Crypto / Digital Assets

Asset Managers Should Put Customers at Heart: SGX

By Manesh Samtani | 21/04/2022

At the IMAS Digital Summit 2022, SGX CEO Loh Boon Chye discussed the exchange’s approach to digital assets and technology adoption.

AML / KYC

OFAC Sanctions Russian Crypto Miners, UK Targets Military

By Manesh Samtani | 21/04/2022

OFAC designated Russian crypto miners and a bank offering sanctions evasion services. The UK sanctioned Russian generals and others supporting the military.

AML / KYC

AUSTRAC Issues New Guidance on Ransomware, Crypto Crime

By Manesh Samtani | 21/04/2022

Financial services businesses are asked to use the indicators in the guides in transaction monitoring to detect potential illicit activity and file SMRs.