Category Archives: Compliance

Crypto market liquidity dries up following Alameda and FTX collapse

The crypto market has experienced a liquidity dry-up in the wake of the collapse of crypto exchange FTX and its sister trading firm Alameda Research, according to data provider Kaiko. The firms, founded by disgraced former billionaire Sam Bankman-Fried, were key market participants until they filed for bankruptcy protection earlier this month. This has created […]

This Week in Coins: Bitcoin Avoids Heavy Losses as FTX Contagion Spreads

This week saw continued FTX fallout week as many crypto companies confessed the extent of their exposure to the collapsed empire. In week two of the FTX disaster story, crypto investors can expect things to get worse before they get better. However, the two market leaders, Bitcoin and Ethereum, no longer appear to be in […]

Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy

FTX, in a bombshell emergency court filing Thursday, said it has credible evidence that Bahamian regulators directed former CEO Sam Bankman-Fried to gain “unauthorized access” to FTX systems to obtain digital assets belonging to the company after it had filed for Chapter 11 bankruptcy protection. The filing said Bankman-Fried transferred those assets to the custody […]

Another NFT venture disappeared hours after launch, this time with $815K

With each passing day, the crypto scams are becoming bolder, but the latest NFT rug pull is as brazen as it gets. SudoRare, a platform meant to facilitate NFT transactions, managed to run off with around $815,000 worth of user funds just six hours after launch. The platform was an iteration, or what is referred […]

Australia Unveils Plans for Crypto Regulations Unlike ‘Anywhere Else in the World’

Crypto regulations will be informed by a phase of comprehensive “token mapping” research, according to Australia’s Treasurer. Australia’s crypto regulators are attempting to go where no government has ever. That’s according to them, at least. On Monday, the Australian treasury announced a multi-step plan to establish a crypto regulatory framework that it claims will be […]

Kucoin flagged by Ontario Securities Commission

The OSC is continuing to crack down on unregistered crypto exchanges, warning investors of Kucoin for the second time this August. The Ontario Securities Commission (OSC) today issued an alert flagging 13 companies that “are not registered to deal or advise in securities in Ontario,” including the Seychelles-based MEK Global Limited and the Singapore-incorporated PhoenixFin […]

NAVIGATING THE NEW AML COMPLIANCE LANDSCAPE – PDF DOWNLOAD

Financial crime remains at record highs as the pandemic continues to accelerate digitization and create new opportunities for fraudulent activities. As a result, AML institutions and other AML regulated entities worldwide. Scaling up staff to deal with evolving AML challenges is problematic. So how can organizations do more with less while complying with tightening regulations? […]

Fed’s annual Jackson Hole meeting.

Every year in August, the Federal Reserve holds a small gathering of the world’s leading economists and policymakers against the backdrop of the Grand Teton Mountains in Wyoming. Only about 120 people attend the event every year. Still, the publicly-released papers and speeches — as well as media engagements by policymakers — have made the […]

Canadian regulatory council creates new preregistration filing for crypto platforms

The Canadian Securities Administrators will require crypto trading platforms to file an undertaking committing them to investor protections while their registration is in process. The Canadian Securities Administrators (CSA), the council of provincial and territorial securities regulators, announced Monday that crypto trading platforms would be expected to provide a preregistration undertaking to their principal regulators […]

Crypto.com Pre-Registration Undertaking with OSC

Crypto.com has announced that it has signed its first pre-registration undertaking with the Ontario Securities Commission in Canada. The undertaking marks Crypto.com as the first global cryptocurrency platform operating under this undertaking in the country. In an official statement, Crypto.com says the following: Crypto.com is committed to working with the OSC to offer a suite […]

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