Regulatory Updates
U.S. Court Orders $230 Million in Penalties for Fraud in Commodity and Digital Asset Trading
On 3 September, 2024, the Commodity Futures Trading Commission (CFTC) announced the penalty imposed by Judge Mary Rowland of the United States...
WazirX Parent Company Seeks Moratorium in Singapore High Court Amid Financial Crisis
On 27 August 2024, Zettai Pte. Ltd., the parent company of the cryptocurrency exchange WazirX, filed an application with the Singapore High Court...
ADGM Introduces Consultation Paper for Fiat-Referenced Stablecoin Issuers
On 20 August, 2024, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) issued Consultation Paper No. 7,...
Hong Kong Monetary Authority Imposes Penalty on WeChat Pay Hong Kong for Anti-Money Laundering Failures
The Hong Kong Monetary Authority (HKMA) has concluded its investigation into WeChat Pay Hong Kong Limited (WPHK), resulting in a HK$875,000 penalty...
CFTC Approves Kalshi Klear LLC Refistration as DCO: New Era of Event-Based Trading in the Financial Markets
On 29 August 2024, the Commodity Futures Trading Commission (CFTC) granted Kalshi Klear LLC an Order of Registration as a derivatives clearing...
Latvijas Banka invites Pre-Licensing Consultations Ahead of New EU Regulations
On 29 August 2024, the Bank of Latvia extended an invitation to crypto-asset service providers (CASPs) and consulting service providers to engage in...
HKMA Launches Project Ensemble Sandbox to Advance Tokenisation in Financial Sector
On 28 August, 2024, the Hong Kong Monetary Authority (HKMA) officially launched the Project Ensemble Sandbox today, for the practical adoption of...
US SEC Enhances Reporting Requirements for Investment Companies and Issues Guidance on Liquidity Risk Management
On 28 August, 2024, the U.S. Securities and Exchange Commission (US SEC) announced new amendments to reporting requirements for certain registered...
ASIC Against Greenwashing: Strict Sustainability Reporting Reforms
On 23 August 2024, the Australian Securities and Investments Commission (ASIC) announced a series of regulatory interventions aimed at curbing...
FINMA Tightens Oversight on VASPs: Elevates IT and Cybersecurity Standards in Latest Audit Forms
On 27 August 2024, the Swiss Financial Market Supervisory Authority (FINMA) published two new set of audit forms i.e. GB-A Regulatory audit report...
Australian Federal Court Delivers Landmark Judgment Penalising Kraken Crypto Exchange
On 23 August 2024, the Federal Court of Australia delivered a landmark judgment against Bit Trade Pty Ltd, the operator of the Kraken cryptocurrency...
ASIC’s Corporate Plan 2024-25 Embraces Blockchain, Virtual Assets, and CBDCs in Financial Landscape
On 22 August 2024, the Australian Securities and Investments Commission (ASIC) unveiled its much-anticipated Corporate Plan for 2024-25, setting the...