Regulatory Updates
US CFTC Extends No-Action Relief for EU and UK Nonbank Swap Dealers
On 20 September 2024, the U.S. Commodity Futures Trading Commission (US CFTC) issued an extension of its no-action relief for nonbank swap dealers...
Latvijas Banka Invites Innovative Start-ups to Apply for “Fintech Factor 2024” Competition
On 19 September 2024, Latvijas Banka announced the return of the Latvian FinTech Forum, scheduled for 5 November 2024, at the Small Guild in Riga....
SEC Settles Charges with Rari Capital and Founders Over Misleading Investors and Unregistered Broker Activity
On 18 September 2024, the United States’ Securities and Exchange Commission (US SEC) announced that Rari Capital Inc., along with its co-founders...
Reserve Bank of Australia and Treasury Release Joint Paper on CBDC’s and Digital Money Future in Australia
On 18 September 2024, the Reserve Bank of Australia (RBA) and Treasury published a comprehensive joint report ‘Central Bank Digital Currency and the...
DBS Bank to Offer OTC Crypto Options and Structured Notes by Q4 2024
In Fourth Quarter of 2024, DBS Bank of Singapore, is set to launch over-the-counter (OTC) cryptocurrency options and structured notes, targeting...
US SEC Charges Prager Metis with Auditor Independence Violations, Agrees to US $1.95 Million Settlement
On 17 September 2024, the US Securities and Exchange Commission (US SEC) announced a settlement with Prager Metis CPAs, LLC and its California...
US CFTC Announces Amendments to Rule Submission Procedures for Registered Entities
On 12 September 2024, the Commodity Futures Trading Commission (US CFTC) published amendments to Regulation Part 40, impacting the rule submission...
Sui Network Integrates with USDC and CCTP to Boost Liquidity and Cross-Chain Capabilities
Sui Network, a layer-1 blockchain, has announced the integration of native USD Coin (USDC) and the Cross-Chain Transfer Protocol (CCTP), effective...
US SEC Issues Cease-and-Desist Order Against Flyfish Club for Unregistered Offering of Crypto Asset Securities
On 16 September 2024, the U.S. Securities and Exchange Commission (US SEC) issued a cease-and-desist order against Flyfish Club, LLC, a...
UK High Court Identifies Tether as Property while Deciding a Case on Cryptocurrency Theft
In the case Fabrizio D'Aloia v Persons Unknown Category A & B and Others [2024] EWHC 2342 (Ch), the claimant, Mr. Fabrizio D’Aloia, a successful...
UK FCA Files First Charges Against Individual for Operating Illegal Crypto ATMs
On 10 September 2024, UK Financial Conduct Authority (UK FCA) charged Mr. Olumide Osunkoya, a 45-year-old resident of London, for operating multiple...
WazirX Moratorium Proceedings Update: Second Affidavit and Subsequent Findings
On 10 September 2024, while considering the second affidavit filed by Nischal Shetty, authorised representative for Zettai Pte. Ltd, the Singapore...