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United States
Crypto / Digital Assets
Court Allows Binance.US to Buy Voyager Despite SEC Objection
By Editors | 09/03/2023
The court said the SEC’s objection was “vague”, that it failed to present any evidence, and that it should not have waited until the last minute to raise its concerns.
Fintech / Regtech
FIA to Form New Global Taskforce in Response to ION Outage
By Manesh Samtani | 08/03/2023
The taskforce will assess existing cyber protections, response protocols, and safeguards around third-party service providers.
AML / KYC
US SEC Fines Rio Tinto Over Bribery Scheme Involving Guinea Mining Rights
By Manesh Samtani | 08/03/2023
Rio Tinto paid a former classmate of a Guinean government official for helping it secure mining rights. The consultant later attempted to pay $822,000 to the official.
Crypto / Digital Assets
FTX’s Alameda Sues Grayscale for Trapped Crypto Assets
By Manesh Samtani | 08/03/2023
Alameda accuses Grayscale and its owner Digital Currency Group of “brazen abuse” of their control over nearly USD 19 billion of digital assets held in two trusts.
Crypto / Digital Assets
US Court Authorises Emergency Freeze on Crypto Hedge Fund Assets
By Editors | 08/03/2023
BKCoin and one of its co-founders commingled client money and used some make “Ponzi-like payments” to other investors.
Enforcement
Singapore Police are Investigating Terraform Labs – Report
By Editors | 06/03/2023
Singapore police confirmed “ongoing” investigations into Terraform Labs, which is also being sued by the US SEC following its collapse last May.
Crypto / Digital Assets
Crypto Focused Bank Silvergate Edges Towards Closure
By Manesh Samtani | 06/03/2023
Silvergate warned that it was evaluating its ability to operate as a going concern, prompting client departures and the discontinuation of its crypto payments network.
AML / KYC
US Authorities to Target Those Who Facilitate Sanctions Evasion
By Editors | 06/03/2023
China (incl. HK and Macau), Armenia, Turkey and Uzbekistan are named as “transshipment points commonly used to illegally redirect restricted items to Russia or Belarus”.
Sanctions
US Commerce Department Adds 3 Dozen Entities to Trade Blacklist
By Editors | 06/03/2023
Of the 37 companies added to the list, 28 are Chinese entities including those involved in advanced technologies and genetic data collection.
Enforcement
OFAC Penalises Indian Tobacco-maker for Sanctions Violations
By Editors | 06/03/2023
Godfrey Phillips India exported tobacco to North Korea through a Thai intermediary, saying they were going to China. Hong Kong intermediaries were used to make the payments.
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