Tag: RegTech

December 19, 2022

A little more than a year after its introduction in October 2021, Nigeria’s eNaira has only managed to get an adoption rate of 0.5%. The legislation that is set to be passed comes as a result of this fact. According […]

December 15, 2022

Russia’s Central Bank Eases Supervision of Digital Asset Platforms Amid Sanctions The Central Bank of the Russian Federation (CBR) has allowed issuers of digital financial assets (DFAs) not to disclose information sensitive in the light of sanctions risks. The exemption, […]

December 15, 2022

Bafin President Convinced Self-Regulation Won’t Work for Crypto The man at the helm of the Federal Financial Supervisory Authority of Germany (Bafin) has urged for global regulation of the cryptocurrency space. This would ensure better protection for consumers, prevent money […]

December 14, 2022

The United States Securities Exchange Commission (SEC) filed a claim against eight individuals associated with Atlas (NYSE:ATCO) Trading, a Discord-based forum. The forum’s co-founders, affiliated podcasters and YouTubers are being alleged of stock manipulation. The claim was filed with the […]

December 14, 2022

Court filings continue to shed light on the dubious relationship between FTX and Alameda Research, in which the hedge fund was afforded an “unfair” trading advantage as well as unprecedented access to user holdings on the cryptocurrency exchange. The United […]

December 14, 2022

Through the partnership Regnology will support the central bank with its Data Management Maturity Programme (DAMAMA) initiative – which aims to transform its data management capabilities and establish a unified regulatory reporting platform. Regnology’s technology platform and Regulator 3 solution […]

December 12, 2022

Bybit to Limit Services for Traders Who Have Not Passed Identity Verification Crypto exchange Bybit will restrict some services that are currently available to users who are yet to pass its verification procedure. The crypto trading platform, one of the […]

December 9, 2022

EU to Consider New Reporting Requirements for Crypto Platforms Serving European Users The executive power in Brussels intends to push through new “tax transparency rules” for the crypto industry. The proposal announced on Thursday concerns all service providers facilitating transactions […]

December 9, 2022

3 U.S. Bureaucrats Believe Crypto Miners Need to Report Carbon Emissions and Environmental Assessments Senators Ed Markey (D-MA), Jeff Merkley (D-ORE), and Jared Huffman (D-CA) have introduced a bill that would require “an interagency study on the environmental and energy […]

December 2, 2022

Amendments to Financial Intelligence Centre Act The South African government recently said persons operating crypto-related businesses will be added to the list of accountable institutions in regard to the regulatory purview. According to a Nov. 29 Government Notice, the addition […]

November 30, 2022

Kraken Settles With OFAC The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced Monday a settlement with Payward Inc. (d/b/a Kraken), a Delaware-incorporated crypto exchange. The announcement states: ”Kraken agreed to remit $362,158.70 to settle its […]

November 28, 2022

The collapse of the now-bankrupt cryptocurrency exchange FTX has put the Singapore prime minister and the ruling government in a hot seat. Prime Minister Lee Hsien Loong and Deputy Prime Minister Lawrence Wong are set to face grilling questions for […]

November 18, 2022

The report details how new non-bank firms, in particular fintechs, are adding “significantly” to the number of firms competing in core consumer finance markets. To shore up consumer protection, the report recommends that oversight for these newer firms should be […]

November 16, 2022

Turkish Financial Watchdog Sets Out to Dig Deeper Into FTX Case Turkey’s Financial Crimes Investigation Board (MASAK), a body subordinated to the Ministry of Finance in Ankara, has started an investigation into the insolvency of cryptocurrency exchange FTX, joining financial […]

November 16, 2022

Rep. Brad Sherman on Cryptocurrency Regulation Congressman Brad Sherman (D-CA), chairman of the subcommittee on Investor Protection and Capital Markets, released a statement regarding the implosion of cryptocurrency exchange FTX on Sunday. FTX’s “sudden collapse” has been “a dramatic demonstration […]

November 11, 2022

The New York Innovation Center (NYIC) of the Federal Reserve Bank of New York and the Monetary Authority of Singapore (MAS) will launch a joint experiment with wholesale central bank digital currencies (wCBDCs). Regulators are keen to test the wCBDCs […]

November 11, 2022

California’s Department of Financial Protection Investigates FTX, Publishes Consumer Warning Following the report that shows the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating FTX, California’s DFPI has published a consumer warning about […]

November 10, 2022

EU Commission to Propose Legislation for Eurozone’s Digital Currency Authorities in the euro area have already made good progress in exploring the rationale and the potential benefits and risks of a central bank digital currency (CBDC), the head of the […]

November 9, 2022

Rising Demand for Crypto ETFs in Hong Kong Hong Kong’s top financial regulator is “actively looking” to set up a regulatory framework that allows retail investors to trade exchange-traded funds (ETFs) with exposure to cryptocurrency futures, Ignites Asia reported Monday. […]

November 9, 2022

Twenty-two per cent of CEOs, chairmen and directors admit that the banks and building societies they work for are unlikely to become compliant with the regulation by the time the April deadline comes around. This is the central concern of […]