ASIC’s 2024 Financial Advice Update Highlights Compliance, Cybersecurity, Ethical Practices, and Investor Protection

by Theresa Joy Lacatan | Aug 14, 2024 | Blog News, Crypto News

On 9 August 2024, the Australian Securities and Investments Commission (ASIC) released it’s financial advice update that discusses the importance of compliance across multiple critical areas. This update addresses the need for accurate record-keeping on the financial...

Korea Fintech Week 2024: Pioneering the Future of Finance with AI and Global Innovation

by Theresa Joy Lacatan | Aug 14, 2024 | Blog News, Crypto News

On July 25, 2024, the Financial Services Commission (FSC) officially announced the schedule for this year’s highly anticipated Korea Fintech Week, set to take place from August 27 to 29 at the iconic Dongdaemun Design Plaza in Seoul. This event, the largest of its...

RBI Deputy Governor Highlights Impact of CBDCs on Deposit Insurance at Asia Pacific Conference

by Theresa Joy Lacatan | Aug 13, 2024 | Blog News, Crypto News

On August 13, 2024, in a compelling address at the International Association of Deposit Insurers (IADI) Asia Pacific Regional Committee (APRC) International Conference, Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra highlighted the evolving...

CFTC Penalizes Texas Firm $100,000 for Unregistered Broker Activities

by Theresa Joy Lacatan | Aug 13, 2024 | Blog News, Crypto News

On August 12, 2024, the Commodity Futures Trading Commission (CFTC) imposed a $100,000 fine on Cost Management Solutions, LLC (CMS), a Texas-based corporation, for operating as an unregistered Introducing Broker (IB). The order, which simultaneously files and settles...

SEC Charges OTC Link LLC with Failing to Report Suspicious Transactions, Imposes $1.19 Million Penalty

by Theresa Joy Lacatan | Aug 13, 2024 | Blog News, Crypto News

On August 12, 2024, the Securities and Exchange Commission (SEC) took decisive action against OTC Link LLC, a New York-based broker-dealer, for neglecting to file mandatory Suspicious Activity Reports (SARs) over a period exceeding three years. The firm has agreed to...

Bahamas Pioneers New Digital Asset Regulations: DARE Act 2024 Takes Effect

by Theresa Joy Lacatan | Aug 13, 2024 | Blog News, Crypto News

On 26 July 2024, the Securities Commission of the Bahamas (SCB) announced the Digital Assets and Registered Exchanges Act, 2024 (DARE Act) which came into effect on 29 July, 2024. It aims to establish a clear legal framework for the issuance, sale, and trade of...