Crypto / Digital Assets

AML / KYC

FATF Issues Guidance Paper on Digital Identity Systems

By Editors | 07/03/2020

The guidance recommends a risk-based approach which relies on a set of assurance frameworks and technical standards for digital ID systems.

Crypto / Digital Assets

Supreme Court Overturns RBI Circular Barring Banks from Crypto Dealings

By Editors | 04/03/2020

The ruling is hailed as a big win for the crypto sector. But, the government  has yet to act on an interministerial committee’s recommendations to ban all private cryptocurrencies.

AML / KYC

OFAC Sanctions Two Chinese Nationals Over Stolen Cryptocurrency

By Editors | 03/03/2020

OFAC has linked two Chinese nationals to the 2018 theft of $250mn in cryptocurrency by the Lazarus Group, a US-designated North Korean cybercrime group.

Crypto / Digital Assets

Thailand SEC Sets Out Three Year Strategic Plan for Capital Market

By Editors | 28/02/2020

The strategic plan includes greater integration of ESG factors in the market, enhancing SME and startup access to capital, promoting the use of digital and e-KYC technologies, among others.

AML / KYC

Meeting New Compliance Challenges Through Digital Identity

By Peter Guy | 27/02/2020

Digital identity systems could form a significant component of the compliance infrastructures at the new digital banks in the years to come, says Refinitiv’s Phillip Malcolm.

AML / KYC

Hong Kong Announces Budget Initiatives to Boost Financial Sector

By Manesh Samtani | 26/02/2020

The initiatives include a waiver on stamp duties paid by ETF market makers, tax concessions for private equity funds, and planned enhancements to Hong Kong’s AML/CTF regime.

Securities / Derivatives

SFC Highlights Key Regulatory Initiatives in Quarterly Report

By Editors | 25/02/2020

Among the initiatives were the launch of the new OFC regime for private fund managers, a regulatory framework for virtual assets, and enhancements to the investor compensation regime.

AML / KYC

FATF Highlights Digital Identity, Virtual Assets as Key Priority Areas

By Manesh Samtani | 24/02/2020

At its Plenary, the FATF highlighted the use of digital identity systems, the new standards for virtual assets, and efforts to tackle illegal wildlife trade as some of its key initiatives.

AML / KYC

FATF Commends Korea, Warns Pakistan, Blacklists Iran

By Manesh Samtani | 24/02/2020

Korea has a sound legal and institutional framework. Pakistan is asked to complete its action plan. Countermeasures against Iran are reinstated.