United States

AML / KYC

FinCEN Issues Interim Final Rule on Beneficial Ownership Reporting

By Manesh Samtani | 24/03/2025

Only entities formed under the law of a foreign country and that have registered to do business in the US will have to report their BOI to FinCEN.

Crypto / Digital Assets

Thai SEC Exempts Fund Managers from Digital Asset Licence

By Thisanka Siripala | 24/03/2025

The new rules aim to integrate traditional financial institutions into the digital asset investment ecosystem.

Sanctions

OFAC Removes Crypto Mixer Tornado Cash from Sanctions List

By Manesh Samtani | 24/03/2025

The decision follows a court decision that Tornado Cash’s smart contracts do not qualify as ‘property’ under the IEEPA.

Securities / Derivatives

CFTC Relaxes Reporting Rules for Japanese Swap Dealers

By Mark Johnston | 24/03/2025

The CFTC issued a staff interpretation in response to industry concerns raised by SIFMA on behalf of Japanese nonbank swap dealers.

Sanctions

OFAC Publishes Final Rule Extending Record-keeping Requirements

By Editors | 24/03/2025

The extension of record-keeping requirements is meant to align with the extension of the statute of limitations for sanctions violations.

Crypto / Digital Assets

Korean Authorities Investigate Bithumb Over Embezzlement

By Thisanka Siripala | 21/03/2025

The investigation centres on claims that Bithumb financed a USD 2 million apartment deposit for its former CEO.

Sanctions

US Sanctions Chinese Oil Refinery for Buying Iranian Oil

By Manesh Samtani | 21/03/2025

8 vessels and 12 additional entities were also sanctioned, including the owner of an oil storage terminal in China’s Huizhou Port.

Capital / Liquidity

Taiwan Mandates Central Clearing for TWD Interest Rate Swaps

By Mark Johnston | 20/03/2025

TAIFEX launched OTC clearing services for TWD IRS contracts in 2022, but central clearing has not yet been mandatory.

Crypto / Digital Assets

MAS Grants In-Principle Approval to Crypto Major Cumberland

By Nithya Subramanian | 19/03/2025

Cumberland’s regulatory progress in Singapore comes after the US SEC agreed to drop its lawsuit against the firm earlier this month.