Regulatory Updates
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...
US PCAOB Publishes New QC 1000 Guidelines to Strengthen Audit Quality, Effective January 2025
On September 9, 2024, the United States’ Public Company Accounting Oversight Board (PCAOB), with the approval of the United States Securities and...
U.S. District Court Issues Permanent Injunction and $7 Million Disgorgement Against Yakov Cohen in Binary Options Fraud Case
On 5 September, 2024, the United States District Court for the Northern District of Illinois issued a Consent Order for Permanent Injunction and...
US Court Partially Grants Coinbase’s Motion in Legal Battle with US SEC
On 5 September 2024, U.S. District Judge Katherine Polk Failla issued a ruling in the ongoing legal case between the U.S. Securities and Exchange...
FCA’s New Listing Rules and Digital Securities Sandbox: Insights from Sarah Pritchard’s Speech
On 6 September 2024, Sarah Pritchard, the Executive Director of Markets and International at the UK’s Financial Conduct Authority (UK FCA),...