Legal
Liquidation of 3AC Ordered in British Virgin Islands
  • A person with knowledge of the matter told Sky News that a BVI court had ordered the liquidation of crypto hedge fund Three Arrows Capital on 27 June.
  • Earlier this week, Voyager Digital issued a notice of default to 3AC for failing to pay its loan of 15,250 BTC and 350 million USDC.
10 hours ago
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Crypto.com Granted In-Principle License in Singapore
  • One of the advantages of receiving a Major Payment Institution license is that it allows companies to provide Digital Payment Token services to customers in Singapore.
  • In order to acquire the license, Crypto.com was obliged to act in accordance with AML and CFT legislations, as well as comply with a number of legal demands.
June 22, 2022, 1:33 PM
Kris Marszalek, Co-Founder and CEO at Crypto.com

Kris Marszalek, Co-Founder and CEO at Crypto.com, on the MoneyConf Stage during day two of RISE 2018 at the Hong Kong Convention and Exhibition Centre in Hong Kong. Seb Daly/RISE via Sportsfile

Japan Passes Stablecoin Bill to Protect Investors
  • After the bill takes effect in 2023, only licensed banks, registered money transfer agents, and trust companies will be allowed to issue stablecoins in Japan.
  • The bill notes that in order for stablecoins to be considered digital money, they must be linked to the price of yen or another legal tender.
June 3, 2022, 1:28 PM
Court of justice sign written in Japanese outside court

Court of justice sign written in Japanese outside court. Shutterstock

Singapore’s MAS to Explore Blockchain and DeFi Use Cases
  • Called Project Guardian, the new MAS pilot will be led by financial heavyweights J.P. Morgan, DBS Bank, and Marketnode.
  • The first pilot of the project will explore DeFi applications in wholesale funding markets through the creation of liquidity pool of tokenized bonds and deposits.
May 31, 2022, 11:32 AM
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Apr 29, 2022
Binance Blocks Accounts of Relatives of Russian Government Officials
  • The accounts of Elizaveta Peskova, daughter of spokesman Dmitry Peskov, Polina Kovaleva, stepdaughter of Sergei Lavrov, and Kirill Malofeev, son of oligarch Konstantin Malofeev, have already been closed.
  • Last week the exchange had also implemented new stricter rules for Russian users with crypto holdings of more than €10,000, following the latest sanctions on Moscow from the E.U.

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Apr 27, 2022
Gibraltar to Combat Crypto Market Manipulation With New Rules
  • The legislation will implement new standards for crypto market integrity in Gibraltar, designed to combat insider trading and market manipulation in the sector.
  • DLT providers will now be required to seek out and prevent insider trading, and the publication of misleading information aimed at manipulating the crypto market.
Apr 27, 2022
Cuba’s Central Bank to License VASPs Starting May
  • The license will be available for individuals as well as organizations and will be valid for a year, though its validity can be extended for a second year.
  • VASPs that fail to comply with the new licensing regime will face penalties in line with existing banking rules and regulations.
Apr 20, 2022
Binance.US Acquires Money Transmitter License in Puerto Rico
  • With this license, Binance.US now operates in 45 states and seven territories of the U.S., moving it a step closer to its goal of providing services in all states and territories.
  • Binance.US CEO Brian Shroder noted that this license was important to the exchange, as Puerto Rico is a particularly important market for the growth of crypto.
Apr 15, 2022
Tornado Cash to Use Chainalysis to Block OFAC Sanctioned Addresses
  • Roman Semenov, co-founder of Tornado Cash, explained that the blockade only applies to the platform’s frontend, and not the underlying smart contract.
  • The news came only a day after the Treasury Department alleged that North Korean hacker group Lazarus was connected to the $625 million Ronin bridge hack.
Apr 11, 2022
Coinbase India Suspends UPI Payments Shortly After Launch
  • The exchange has stopped accepting payments through the United Payments Interface system only three days after its launch in India.
  • The system is governed by the National Payment Corporation of India, which said it was “not aware of any crypto exchange using UPI” only hours after the exchange was launched.
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