08/28/2023
US Treasury sets out crypto tax reporting proposal
The form, covering information such as customers’ capital gains and losses, would be sent to both customers and the IRS.
Legal,Regulation,Tax & Compliance
08/25/2023
SmartSearch Reveals Worrying Trend as Challenger Banks Display Lack of Commitment to Compliance
SmartSearch has revealed concerns that challenger banks could receive substantial fines and significant reputational damage associated with Anti-Money Laundering (AML) breaches.
08/25/2023
Modulus files new order type patent for its white label futures exchange
The Modulus futures exchange made international news previously as the technology upon which FTX built their exchange empire.
08/24/2023
A&O advises the HKMA on legal and regulatory considerations for tokenisation of bonds in Hong Kong
This contribution marks another milestone in the exploration and promotion of wider adoption of bond tokenisation in Hong Kong.
08/23/2023
Big tech to face full force of new EU law
The landmark law is part of the EU's legal arsenal deployed to bring tech companies to heel
08/22/2023
SS&C Signs Definitive Agreement to Acquire Iress' Managed Funds Administration Business
Acquisition strengthens SS&C Global Investor & Distribution Solutions offering in Australia
08/22/2023
SEC charges fintech investment adviser with violating marketing rule
In the first case involving the SEC's amended marketing rule, Tian has agreed to pay over $1 million to settle the charges, without admitting or denying the findings.
08/21/2023
New Saudi ‘insurtech’ rules will help ‘foster innovation’
The Kingdom’s fintech sector sees no sign of slowing up
08/18/2023
Mastercard launches CBDC partner programme
Their efforts include Fluency’s work to build interoperability among different CBDCs
08/18/2023
Netwealth targeted by scammers in clone attack
The FCA warned that this firm is not authorised but has been contacting people pretending to be an authorised firm.
08/17/2023
MAS’ AML/CFT Inspections Put Wealth Management Firms on Notice
The inspections of wealth management FIs are part of MAS’ ongoing efforts to strengthen Singapore’s AML/CFT regime.
08/17/2023
Visa faces DoJ probe into tokenisation technology pricing
The company offers merchants a lower price if they use it.
08/17/2023
Virtual assets firm M2 secures Abu Dhabi nod to offer crypto services
ADGM's FSP license entails M2 to offer institutional and retail clients in the UAE the ability to buy, sell and maintain custody of virtual assets
08/17/2023
Sumsub enhances Wirex’s virtual asset transfer and compliance with new partnership
This will encompass thorough KYC checks, AML screenings, and a host of verifications that align with regulatory mandates and Wirex’s unique business specifications.
08/16/2023
Experian charged with spamming customers who signed up to protect their identity
Consumers who wish to freeze or take other steps to manage their Experian credit information online must create an account with ECS.
08/16/2023
Currencycloud Almost Doubles Customer Base in Oceania Following AFS Licence
With increased local capacity, the company will now look to diversify its client portfolio across sectors including regulated derivative brokerages, PSPs and wealthtech companies.
08/15/2023
UK – Court of Appeal overrules first instance judge on Bitcoin File Format question
Since some of the defendants were based outside of the jurisdiction, Dr Wright required permission of the court to serve his claim form.
08/14/2023
How Anti-Gambling Regulations Indirectly Boosted Crypto in South Korea: Tiger Research Report
This suggests that while Upbit accounts for the world’s second-largest trading volume, 13 per cent of Binance’s trading volume is from South Koreans.
08/14/2023
Bank of Canada paper casts doubt on CBDC value
Nearly all - 98% - of Canadian adults have a bank account, while 87% have a credit card and internet access is high.
08/14/2023
FinTech And Blockchain In The Caribbean
Both the Cayman Islands and the BVI have introduced their own set of specific legislation dealing with digital assets