Regulatory Updates
US SEC Files Market Manipulation Lawsuit Against CLS Global FZC LLC and Andrey Zhorzhes
On October 9, 2024, the United States’ Securities and Exchange Commission (US SEC) filed a complaint against CLS Global FZC LLC and Andrey Zhorzhes,...
South Korean FSC Announces Establishment of Digital Asset Protection Foundation to Secure Safe Return of Funds Amid VASP Closures
On 25 September 2024, the South Korean Financial Services Commission (SK FSC) announced its authorization of the digital asset industry’s plan to...
Monetary Authority of Singapore Issues Consultation Paper on Regulatory Approach for Digital Token Service Providers
On 4 October 2024, the Monetary Authority of Singapore (MAS) publishes a Consultation Paper on Proposed Regulatory Approach, Regulations and Notices...
HKVAX Secures Regulatory Licenses, Strengthening Its Position as a Leading Virtual Asset Platform in Hong Kong
On 2 October 2024, Hong Kong Virtual Asset Exchange (HKVAX) officially announced that it had obtained Type 1 (dealing in securities) and Type 7...
US CFTC Hosts Events During World Investor Week to Highlight Fraud Protection and Relationship Scams
On 4 October 2024, the United States’ Commodity Futures Trading Commission (CFTC), through its Office of Customer Education and Outreach (OCEO),...
Singapore Enforces New Anti-Money Laundering Rules: Tightens Crypto Regulations to Combat Money Laundering
On 4 October 2024, the Singapore’s Inter-Ministerial Committee (IMC) issued its report, presenting the findings and recommendations following a...
UAE Introduces New VAT Regulations Affecting Virtual Assets: What Businesses Need to Know
On 6 September 2024, the UAE Cabinet issued Cabinet Decision No. 100 of 2024, significantly amending the Federal Decree-Law No. 8 of 2017 on Value...
UK FCA Fines Starling Bank £29 Million for Failures in Financial Crime Systems and Controls
On 2 October 2024, the UK Financial Conduct Authority (UK FCA) issued a final notice for a fine of £28,959,426 imposed on Starling Bank Limited for...
US Judge finds New California Election Deepfake Law Unconstitutional and imposed Preliminary Injuction against Assembly Bill 2839
On 2 October 2024, U.S. District Judge John A. Mendez by its order issued a preliminary injunction against California’s newly enacted law, Assembly...
U.S. SEC Announces Departure of Enforcement Director Gurbir S. Grewal, Names Acting Leadership
On 2 October 2024, the U.S. Securities and Exchange Commission (US SEC) announced the resignation of Gurbir S. Grewal, Director of the Division of...
Barclays Bank Settles with US CFTC Over Five Million Misreported Swap Transactions, Agrees to US$4 Million Penalty
On 30 September 2024, the United States’ Commodity Futures Trading Commission (US CFTC) announced that Barclays Bank PLC had reached a settlement in...
Singapore High Court Grants Zettai Pte. Ltd. Four-Month Moratorium Amidst Cryptocurrency-Related Financial Crisis
On 27 September 2024, the High Court of the Republic of Singapore issued an order in the ongoing case of Zettai Pte. Ltd., a company undergoing...