United States

Sanctions

OFAC Sanctions Two North Koreans Living in Beijing

By Editors | 16/06/2023

The husband and wife allegedly work for a North Korean state organisation that helps procure equipment for weapons programmes.

AML / KYC

US Lawmakers Introduce Bills to Increase FinCEN Accountability

By Editors | 15/06/2023

One of the bills will delay the effective date for the upcoming beneficial ownership information reporting requirements.

Enforcement

Bittrex Gets Court Approval to Allow Customer Withdrawals

By Mark Johnston | 14/06/2023

The DOJ had argued that allowing customer withdrawals would subordinate a government claim, but the court ruled in favour of Bittrex.

Crypto / Digital Assets

US SEC Responds to Court Order on Crypto Rulemaking

By Manesh Samtani | 14/06/2023

The SEC said it has not yet decided what action to take regarding Coinbase’s rulemaking petition, but that it will provide an update by 11 October 2023.

Capital / Liquidity

US Lawmaker Calls for Reversal of FSOC Plans for Nonbank FIs

By Editors | 14/06/2023

Patrick McHenry said the FSOC’s plans to designate non-bank financial entities as systemically important based on size rather than activities will be problematic.

Crypto / Digital Assets

US Federal Judge Declines to Freeze Binance.US Assets

By Editors | 14/06/2023

The federal judge overseeing the case ordered the SEC and Binance.US to negotiate other restrictions instead.

Sanctions

China Military Pilot Training Targeted by US Export Controls

By Mark Johnston | 14/06/2023

US Commerce Department’s Bureau of Industry and Security added 43 entities to its Entity List for aiding China’s military modernisation programmes.

AML / KYC

JPMorgan Agrees to Settle Epstein Lawsuit for $290m

By Editors | 13/06/2023

JPMorgan will not have to admit liability, but will have to issue a public statement saying it regrets its association with Epstein.

Capital / Liquidity

HSBC Forms New ‘Innovation Banking’ Division Out of SVB UK Acquisition

By Sanday Chongo Kabange | 13/06/2023

The new ‘HSBC Innovation Banking’ brand will roll out globally in the coming months, with innovation-focused teams in the UK, US, Israel and Hong Kong.