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United States
Enforcement
US SEC Penalises SPAC for Allowing Embezzlement by CFO
By Editors | 27/02/2023
A lack of internal controls and oversight allowed the SPAC’s CFO to misappropriate cash and falsify financial reports for over a year.
Crypto / Digital Assets
US Prosecutors Unveil More Charges Against FTX Founder
By Editors | 26/02/2023
The additional charges allege that Sam Bankman-Fried conspired to commit bank fraud and to make more than 300 illegal political donations.
Crypto / Digital Assets
Crypto-focused Custodia Bank Continues to Pursue Fed Master Account
By Editors | 26/02/2023
The Fed board refused to reconsider its decision to reject Custodia Bank’s application to become a member of the Federal Reserve System.
Crypto / Digital Assets
US Indicts Russian Actors Over Crypto Pyramid and Ponzi Scheme
By Editors | 24/02/2023
The charges include one count of conspiracy to commit wire fraud for each of the four defendants, who were among the 11 charged by the SEC last year.
Capital / Liquidity
US Regulators Warn of Liquidity Risks Tied to Crypto Assets
By Editors | 24/02/2023
US federal banking regulators highlight key liquidity risks and some effective practices to monitor and appropriately manage those risks. US […]
Market Infrastructure
DSB Announces Launch Dates for UPI Service
By Editors | 24/02/2023
The UPI UAT environment and a client onboarding and support platform will be available from 17 April, and the UPI production environment from 16 October.
Crypto / Digital Assets
Regulatory Scrutiny Causing Seismic Shifts in Stablecoin Market
By Sam Chen | 24/02/2023
Since the NYDFS ordered Paxos to stop minting BUSD, the world’s third-largest stablecoin, its market cap has shrunk by over $4bn.
Enforcement
Wells Fargo, HSBC Drawn into SEC Whatsapp Probe
By Editors | 22/02/2023
Wells Fargo said regulators are investigating its compliance with records-retention requirements. HSBC said it is close to a settlement with regulators.
Market Infrastructure
14 European Exchanges Join Forces to Develop Consolidated Tape
By Editors | 22/02/2023
The participating exchange groups include Deutsche Boerse Group, Euronext, Nasdaq, and SIX Group, as well as the local exchanges in several European cities.
AML / KYC
NYDFS Enhances Capabilities to Detect Crypt-related Crime
By Editors | 22/02/2023
The additional capabilities will help NYDFS detect insider trading, market manipulation, and front-running activity.
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