United States

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    Capital / Liquidity

    Fed Plans to Toughen Capital, Liquidity Rules for Banks

    By Manesh Samtani | 18/05/2023

    Fed, FDIC and OCC officials as well as former executives from failed banks testified before lawmakers this week.

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    Enforcement

    OFAC Sanctions Key Actor in Russian Ransomware Ecosystem

    By Editors | 16/05/2023

    The Russian national helped to develop and deploy ransomware variants Hive, LockBit, and Babuk. A $10mn award is offered for information that leads to his arrest.

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    Market Infrastructure

    MAS Issues “Close-to-Final” Derivatives Reporting Rule Updates

    By Manesh Samtani | 16/05/2023

    MAS set October 2024 as the commencement date for its new OTC derivatives reporting rules, aligning with ASIC.

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    Crypto / Digital Assets

    US SEC Responds to Coinbase Request for Regulatory Clarity

    By Editors | 16/05/2023

    The SEC said it has no obligation to issue the “broad new regulations” for digital assets that Coinbase has requested.

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    Crypto / Digital Assets

    Tether’s Excess Stablecoin Reserves Reach All-time High

    By Editors | 15/05/2023

    Tether has $81.8bn in consolidated total assets, exceeding its $79.4bn in liabilities. Excess reserves held in gold and bitcoin were published for the first time.

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    Sanctions

    OFAC Makes Structural Changes to Minimise Collateral Damage of Sanctions

    By Editors | 15/05/2023

    OFAC hired a chief sanctions economist to lead a new division that will assess the potential collateral economic effects of proposed sanctions.

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    Crypto / Digital Assets

    Creditors of Bankrupt Crypto Firm QuadrigaCX to Get Payout

    By Mark Johnston | 15/05/2023

    The payout amounts to about 13 percent of the value of creditor claims filed against QuadrigaCX, which was found to be a Ponzi scheme and a fraud.

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    Enforcement

    Lawsuit Alleges Jump Trading Manipulated TerraUSD Stablecoin

    By Mark Johnston | 15/05/2023

    Illinois lawsuit accuses high-frequency crypto trading firm Jump Trading manipulated TerraUSD stablecoin.

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    Sanctions

    US DOJ Approves First Transfer of Seized Russian Funds to Ukraine

    By Editors | 15/05/2023

    “While this represents the United States’ first transfer of forfeited Russian funds for the rebuilding of Ukraine, it will not be the last,” said Attorney General Merrick Garland.

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    Capital / Liquidity

    FDIC to Charge Banks $16bn to Recover SVB, Signature Losses

    By Manesh Samtani | 14/05/2023

    The FDIC proposes to require lenders with more than $50bn in assets to cover 95% of the losses associated with the SVB and Signature Bank failures.

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