Our new report – What Does 2023 Hold? Key Upcoming Developments and Enforcement Trends covers nine major areas we expect will shape 2023.
On February 9, 2023, the SEC announced that it had settled charges against the world’s third largest centralized crypto exchange by volume for offering a crypto staking program that the SEC deemed to be the offering and selling of unregistered securities.
Following a host of notable bankruptcy filings in the digital asset industry, the New York State Department of Financial Services (DFS) recently issued guidance (the DFS Guidance) to emphasize sound custody and disclosure practices for firms providing digital asset custody services to better protect customers in the event of an insolvency or similar proceeding.
Potentially in connection with the recent events rocking the crypto industry, FINRA is conducting a new sweep on “Crypto Asset Communications” by broker-dealers. If they haven’t already received the request, broker-dealers with crypto-related affiliates likely will be contacted. Notably, this is the first announced sweep that FINRA has issued in over a year.
Our new episode is the second of two episodes focusing on cryptoassets and regulatory developments, taking off from our publication Crypto around the World. The episode covers ESG, decentralized finance (DeFi) and the future impact of central bank digital currencies.
The People’s Bank of China (PBOC) promulgated The Measures for the Supervision and Administration of Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) of Financial Institutions (Measures), which came into effect on 01 August 2021. The new Measures have widened the scope of applicable institutions by adding developmental financial institutions, consumer finance companies, loan companies, non-banking payment institutions and many other types of financial service companies.