U.S. Court Orders $230 Million in Penalties for Fraud in Commodity and Digital Asset Trading

by Theresa Joy Lacatan | Sep 5, 2024 | Blog News, Crypto News

On 3 September, 2024, the Commodity Futures Trading Commission (CFTC)  announced the penalty imposed by Judge Mary Rowland of the United States District Court for the Northern District of Illinois in the case of Commodity Futures Trading Commission v. Jafia LLC, Sam...

WazirX Parent Company Seeks Moratorium in Singapore High Court Amid Financial Crisis

by Theresa Joy Lacatan | Sep 3, 2024 | Blog News, Crypto News

On 27 August 2024, Zettai Pte. Ltd., the parent company of the cryptocurrency exchange WazirX, filed an application with the Singapore High Court seeking a moratorium under Section 64 of the Insolvency, Restructuring, and Dissolution Act 2018. The application,...

ADGM Introduces Consultation Paper for Fiat-Referenced Stablecoin Issuers

by Theresa Joy Lacatan | Sep 3, 2024 | Blog News, Crypto News

On 20 August, 2024, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) issued Consultation Paper No. 7, proposing a regulatory framework for the issuance of Fiat-Referenced Tokens (FRTs). This paper outlines regulations for these...

Hong Kong Monetary Authority Imposes Penalty on WeChat Pay Hong Kong for Anti-Money Laundering Failures

by Theresa Joy Lacatan | Sep 3, 2024 | Blog News, Crypto News

The Hong Kong Monetary Authority (HKMA) has concluded its investigation into WeChat Pay Hong Kong Limited (WPHK), resulting in a HK$875,000 penalty for violations under the Payment Systems and Stored Value Facilities Ordinance (PSSVFO). The penalty was imposed for...

CFTC Approves Kalshi Klear LLC Refistration as DCO: New Era of Event-Based Trading in the Financial Markets

by Theresa Joy Lacatan | Sep 3, 2024 | Blog News, Crypto News

On 29 August 2024, the Commodity Futures Trading Commission (CFTC) granted Kalshi Klear LLC an Order of Registration as a derivatives clearing organisation (DCO) under the Commodity Exchange Act (CEA). Kalshi’s affiliate, KalshiEx LLC, was already registered as...

Latvijas Banka invites Pre-Licensing Consultations Ahead of New EU Regulations

by Theresa Joy Lacatan | Sep 2, 2024 | Blog News, Crypto News

On 29 August 2024, the Bank of Latvia extended an invitation to crypto-asset service providers (CASPs) and consulting service providers to engage in pre-licensing consultations as they prepare to comply with the forthcoming European Union (EU) Markets in Crypto-Assets...