Subscribe here to receive this newsletter in your inbox on the 1st and 16th of every month. Our Top 5 Articles From the Week The SEC Releases Compliance Notice on Future Crypto Regulations As the traditional financial world begins its mainstream adoption of crypto assets, the process of legitimizing digital assets as financial products pose a myriad of risks and regulatory challenges. Today, the U.S. Securities and Exchange Commission (SEC) released an 8-page document that details the framework in which the agency will…

Subscribe here to receive this newsletter in your inbox every Monday. Our Top 5 Articles From the Week Tether Faces 500 Bitcoin Ransom Tether has revealed a ransomware demand in which threat actors are allegedly demanding 500 Bitcoin ($24 million). Over the weekend, the blockchain and cryptocurrency organization said on Twitter that a demand for payment had been made, on pain of documents being leaked online that would “harm the Bitcoin ecosystem.” The…

Speed Read FATF is set to revise its June 2019 guidelines (also known as the FATF Travel Rule) for VASPs and stablecoins. The FATF will publish a public consultation draft in March and expects to release the final guidelines in June this year. The FATF also aims to address the…

Subscribe here to receive this newsletter in your inbox every Monday. Our Top 5 Articles From the Week US Charges Three North Korean Hackers Over Crypto Attacks and WannaCry Ransomware On Wednesday, the United States Department of Justice announced charges against three North Korean hackers. Making the announcement, Assistant Attorney General John Demers condemned the North Korean program, the most famous branch of which is Lazarus Group. Demers said: “North Korea’s operatives, using keyboards rather than guns, stealing digital wallets…

Regulators around the world are introducing increasingly stringent and specific laws to fight crypto crime. Whilst the global volume of illicit crypto-based activities has significantly reduced, the war against money laundering, terrorist financing and fraud is far from over. …

Subscribe here to receive this in your inbox on the 1st and 16th of every month. Our Top 5 Articles From the Week FinCEN’s Wallet Rule Aims to Close Crypto-Cash Reporting Gap, Official Says Financial institutions report large cash and crypto transactions differently. This gap led to a controversial rule proposed by the Financial Crimes Enforcement Network (FinCEN) late last year, an official said Monday. Speaking at a virtual panel hosted by compliance firm TRM Labs, FinCEN Deputy Director Michael Mosier was referring to…

Subscribe here to receive this newsletter in your inbox every Monday. Our Top 5 Articles From the Week UN Says North Korea Funded Nuclear Weapons With Crypto Hacks in 2020: Report North Korea has modernized its nuclear weapons and ballistic missiles by flaunting United Nations sanctions, using cyberattacks to help finance its programs and continuing to seek material and technology overseas for its arsenal including in Iran, U.N. experts said. The panel of experts monitoring sanctions on the Northeast Asian nation…

Subscribe here to receive this newsletter in your inbox every Monday. Our Top 5 Articles From the Week Founder of $90 Million Cryptocurrency Hedge Fund Pleads Guilty A 24-year-old founder of two New York-based cryptocurrency hedge funds with more than US$100 million (S$133 million) in investments pleaded guilty on Thursday (Feb 4) to securities fraud. Stefan He Qin was charged with one count of securities fraud, after duping investors by claiming he used a trading algorithm to…

Subscribe here to receive this in your inbox on the 1st and 16th of every month. Our Top 5 Articles From the Week FinCEN to Impose New Regulation for Crypto Holdings at Foreign Exchanges The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulations affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets. FinCEN, a bureau of the U.S. Department of the Treasury, issued a notice on Thursday regarding…