Regulatory Updates
SFC Issues Public Warning Against Proxinex for Suspected Virtual Asset-Related Fraud
On 29 Jul 2024, the Securities and Futures Commission (SFC) issued a public warning regarding Proxinex, an entity suspected of engaging in virtual...
Moomoo Becomes First Digital Brokerage in Singapore to Obtain Major Payment Institution License
On July 28, 2024, Moomoo announced it has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), making...
Chee Hong Tat Appointed Deputy Chairman of MAS Board
On 29 July 2024, the Monetary Authority of Singapore (MAS) announced that Mr. Chee Hong Tat, the Minister for Transport and Second Minister for...
FINMA Publishes New Guidelines on Stablecoins: Enhancing Regulatory Oversight and Strengthening Financial Security in Switzerland
On 26 July 2024, the Swiss Financial Market Supervisory Authority (FINMA) released its latest guidance, “FINMA Guidance 06/2024,” addressing the...
Donald Trump’s Future Crypto Vision: Making the U.S. the Global Crypto Capital
On July 27, 2024, former U.S. President Donald Trump delivered the keynote address at the Bitcoin 2024 conference in Nashville, Tennessee, sending...
Japan Prepares for Bitcoin ETFs with SBI and Franklin Templeton Partnership
As of 26 July 2024, Japan is set to join the global trend of Bitcoin exchange-traded funds (ETFs) following the partnership between Japanese...
SFC Alerts Public to Unlicensed Virtual Asset Trading Platform CoinUnited.io
On 25 July 2024, the Securities and Futures Commission (SFC) issued a stern warning to the public regarding an unlicensed virtual asset trading...
Revolut Secures UK Banking License, Poised to Expand Services
Revolut announced on 20 July 2023 that it has received a preliminary banking license from the UK’s Prudential Regulation Authority (PRA), marking a...
Bank of Ghana and Monetary Authority of Singapore Successfully Demonstrate E-Cedi in Cross-Border Transactions
On 24 July 2024, the Bank of Ghana (BoG) and the Monetary Authority of Singapore have completed a groundbreaking proof of concept (POC)...
Hong Kong Launches Asia’s First Inverse Bitcoin ETF Amidst Volatile Market Conditions
CSOP Asset Management on 22 July 2024 announced the launch of Asia's first inverse Bitcoin exchange-traded fund (ETF), the CSOP Bitcoin Futures...
Keith E. Cassidy Named Interim Acting Director of SEC’s Division of Examinations
The Securities and Exchange Commission, on 22 July 2024, announced that Richard Best, the Director of the Division of Examinations, will take leave...
Marathon Digital Ordered to Pay $138 Million for Breach of Contract, Reflecting Challenges in Upholding Ethical Standards in Crypto Industry
According to a judgment dated July 19, 2024, a federal court jury in Los Angeles has awarded Michael Ho $138 million after finding Marathon Digital...