Regulatory Updates
Singapore’s Joint Advisory Warns of Rise in Government Official Impersonation Scam Involving Banks
On 10 October 2024, the Singapore Police Force and the Monetary Authority of Singapore issued a joint advisory alerting the public to a surge in...
United States CFTC Issues No-Action letter to KalshiEX and Kalshi Klear for Transition in Clearing Operations
On 4 October 2024, the United States Commodity Futures Trading Commission issued a supplemental no-action letter in response to a request from...
Cumberland DRW LLC, Subsidiary of DRW Holdings, Faces United States SEC Enforcement Action for Alleged Unregistered Securities Trading
On 10 October 2024, the United States Securities and Exchange Commission sought to initiate legal proceedings against Cumberland DRW LLC, a crypto...
U.S. SEC Filed a Complaint Against ZM Quant Investment Ltd. Alleging Crypto Market Manipulation and Demanding Jury Trial
On 9 October 2024, the U.S. Securities and Exchange Commission (SEC) filed a complaint against ZM Quant Investment Ltd., Baijun Ou, and Ruiqi Lau,...
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...