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The Hong Kong Monetary Authority (HKMA) has released the conclusions of its public consultation on the three-tier banking system, proposing a transition to a two-tier system. (Read More)
The Hong Kong Monetary Authority has fined WeChat Pay Hong Kong Limited HK$875,000 for contravening anti-money laundering regulations. (Read More)
HKMA has imposed a HK$10 million penalty on DBS Bank (Hong Kong) for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. (Read More)
Tse Tsun Wai has been convicted and fined for engaging in unlicensed financial activities, according to the Securities and Futures Commission. (Read More)
The Securities and Futures Commission (SFC) has welcomed the appointment and re-appointment of several Non-Executive Directors. (Read More)
The HKMA alerts the public about unauthorized banking activities by a firm operating without proper authorization in Hong Kong. (Read More)
The UK Law Commission scoping paper suggested legal reforms for DAOs, a review of the Companies Act and international cooperation on AML and tax frameworks.
The SFC and HKMA have published their annual updates to the list of financial services providers under the OTC derivatives regulatory regime. (Read More)
The potential misuse of the CBDC technology trumped arguments about innovation or even good legal drafting.
The Bank of England's proactive regulatory shift aims to integrate emerging technologies, highlighted by the introduction of the Digital Securities Sandbox.
The Philippines has officially exited the FATF grey list. Learn how the SEC plans to strengthen anti-money laundering (AML) compliance through Project HARBOR, expanded NPO outreach, and new crypto regulations.
Cryptocurrencies and DeFi have shaken up the world of finance, but the spotlight on Sam Bankman-Fried (SBF), the mysterious FTX founder, has raised serious concerns about how the U.S. government handles financial regulation and fairness. SBF faces some serious accusations like misusing customer funds, market manipulation, insider trading, witness tampering, and money laundering. Some folks [...]
The post Double Standards in Finance: SBF’s Legal Troubles Spark Concerns appeared first on Crypto Breaking News.
On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing to discuss the recent bank collapses in the United States and the regulatory response. Throughout the testimonies, digital assets and crypto businesses were mentioned. Senate Banking Committee chairman Sherrod Brown claimed on Tuesday [...]
The post Senate Banking Committee Holds Hearing on Recent Bank Collapses, Calls for Tougher Regulations appeared first on Crypto Breaking News.
Sam Bankman-Fried (SBF), the former CEO of FTX, now faces a 13-count indictment as U.S. officials have added new charges. One of the new charges alleges that SBF leveraged $40 million to influence “one or more Chinese government officials.” Details of the Bribery Charges Against Sam Bankman-Fried Sam Bankman-Fried (SBF), the co-founder and former CEO [...]
The post Former FTX CEO Sam Bankman-Fried Faces New Bribery Charges for Alleged Crypto Payment to Chinese Officials appeared first on Crypto Breaking News.
On Monday, U.S. president Joe Biden published the administration’s economic report and addressed the subject of cryptocurrencies. The section titled “The Perceived Appeal of Crypto Assets” describes the currencies as “mostly speculative investment vehicles” that are “unbacked” and “traded without fundamental anchors.” The White House insists that crypto assets do not deliver on their promises [...]
The post Biden Administration’s Economic Report Deems Crypto Assets ‘Mostly Speculative Investment Vehicles’ appeared first on Crypto Breaking News.
After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look at what fractional-reserve banking is and why [...]
The post Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking appeared first on Crypto Breaking News.
In a circular released by the Capital Markets Authority of Kuwait, the regulator reaffirmed its position that Kuwait strictly prohibits the use of virtual currencies and bans mining activities within the Gulf state. The authority also emphasized the importance for businesses to inform customers about potential “risks that may arise” with dealing with crypto assets [...]
The post Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset Ban appeared first on Crypto Breaking News.
Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” reached the top Google Trends [...]
The post Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket appeared first on Crypto Breaking News.
Blackrock’s CEO, Larry Fink, stated in an interview on Friday that he does not anticipate a “big recession” in the United States. However, he believes that “inflation is going to be stickier for longer.” In contrast to the U.S. central bank’s 2% goal, Fink predicts that “we’re going to have a 4ish floor in inflation.” [...]
The post Blackrock CEO Expects Inflation to Persist, but No Major US Recession in 2023 appeared first on Crypto Breaking News.
The Hong Kong Monetary Authority has opened a public consultation on proposed amendments to the Banking Ordinance, aiming to strengthen regulatory frameworks and enhance banking stability. (Read More)
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