Governance
FSB stresses need for regulation of crypto-assets
Source: FSB
Against the backdrop of the recent turmoil in crypto-asset markets, the Financial Stability Board (FSB) made the following statement today on the international regulation and supervision of crypto-asset activities.
Bank of England to announce crypto regulation
The Bank of England’s Financial Policy Committee has called for widespread crypto regulation, reported Coindesk on Wednesday.
UK financial regulators to be given powers over Big Tech cloud providers
The UK's financial regulators are to be given powers to test the resilience of big cloud providers like IBM, Google, Microsoft and Amazon and perform on-site inspections.
Financial regulators probe DeFi markets
International securities regulator Iosco is setting up a task force to examine the risks and opportunities arising from decentralised finance (DeFI), which it says is quickly evolving to mirror conventional financial markets.
ECB to issue eurozone warning over crypto regulation – FT
The European Central Bank (ECB) is expected to issue a strong warning to eurozone countries around the pressing need to harmonise regulation across the crypto industry, the FT reports.
Regulators seek legal ground for revoking licences of firms who breach AML rules
European regulators are pushing for new laws that would give them the power to revoke licences for firms in serious breaches of anti-money laundering rules.
Regis-TR fined €186,000 by Esma for catalogue of reporting failures
The European Securities and Markets Authority (Esma) has fined trade repository Regis-TR €186,000 for eight breaches of the European Market Infrastructure Regulation.
EU reaches agreement on landmark MiCA regulation for crypto
The Council Presidency and European Parliament have settled on the Markets in Crypto-Assets (MiCA) proposal; ruling that crypto-asset service providers will require authorisation to operate in the EU, not including NFTs or media-related digital assets.
Regulator hits Anchorage Digital over AML failures
The Office of the Comptroller of the Currency (OCC) has issued a consent order against digital asset custody services provider Anchorage Digital Bank over Bank Secrecy Act anti-money laundering failures.
Global AML fine amounts fall as regulators turn their attention to crypto
Source: Kroll
Kroll, the leading provider of data, technology and insights related to risk, governance and growth, has found that whilst anti-money laundering (AML) continues to dominate global financial crime regulation, enforcement activity is slowing as attention turns from banks to other financial institutions.
Charles Schwab pays $187m to settle SEC robo-advisor charges
Subsidiaries of Charles Schwab have agreed to pay $187 million to settle SEC charges that they misled clients about fees for the broker's robo-advisor product.
IMF calls for regulatory crackdown on fast-growth fintechs
The International Monetary Fund says fast-growing finechs pose challenges for both regulators and less technologically advanced banks, whose long-term viability may be under threat.
Feds seize $3.6bn in crypto linked to Bitfinex hack
US authorities have arrested two people and seized $3.6 billion wort of bitcoin in relation to the 2016 hack of cryptocurrency exchange Bitfinex.