Singapore-based cryptocurrency platform Coinhako has been granted a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) to offer Digital Payment Token (DPT) Services under the Payment Services Act (PSA). The exchange is one of five firms […]
On May 2 2022, Australian Transaction Reports and Analysis Centre (AUSTRAC) accepted an enforceable undertaking (EU) from National Australia Bank Limited (NAB) to improve the bank’s compliance program and bring it into line with Australia’s anti-money laundering and counter-terrorism financing […]
India’s Finance Minister has highlighted the importance of technology in the regulation of cryptoassets during a panel discussion hosted by the International Monetary Fund (IMF). Nirmala Sitharaman told the panel that there were concerns about digital assets in her country […]
Singapore’s significant Financial Services and Markets (FSM) Bill has been approved by the country’s parliament. The bill is set to expand the powers of the Monetary Authority of Singapore (MAS) and address regulatory weaknesses in the cryptoasset space. It marks […]
An extensive report into the adequacy of Australia’s anti-money laundering and combating the financing of terrorism (AML/CFT) measures has condemned a delay in expanding the scope of the country’s regulations. The Senate committee report focuses on the failure to expand […]
As Australia steps up its response to Russia’s invasion of Ukraine, it has targeted 39 Russians in its first use of the Magnitsky sanctions for human rights abuses. 14 Russians are accused of serious corruption, along with 25 Russian “perpetrators […]
New legislation to build a regulatory framework covering crypto custody, market licensing, taxation, and decentralized autonomous organizations (DAO), has been proposed by the Australian government. A consultation paper has been released on a planned Digital Services Act (DSA), seeking input […]
One of the key announcements from the Financial Action Task Force’s March Plenary was its confirmation of changes to Recommendation 24 and its Interpretive Note relating to beneficial ownership standards. The new standards require countries to ensure that competent authorities […]
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has started civil proceedings against Australia’s largest casino operator, Crown Resorts, alleging “serious and systemic non-compliance” with the country’s anti-money laundering and combatting the financing of terrorism (AML/CTF) laws. The action relates […]
The Australian Transaction Reports and Analysis Center (AUSTRAC) has issued new guidance aimed at helping firms identify and verify sources of funds and wealth, as part of their know your customer (KYC) processes. The draft guidance follows the regulator’s recent […]
South Korea’s largest telecom provider is to pay $6.3m to settle a US Securities and Exchange Commission (SEC) action over alleged bribes. KT Corp, which is publicly traded and listed on the New York Stock Exchange, engaged in multiple schemes […]
The Monetary Authority of Singapore (MAS) is set to be granted enhanced powers to regulate virtual asset service providers (VASPs) as part of a significant new bill consolidating its supervisory powers.
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