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NEWS: Foreign stablecoins face new US compliance hurdle under GENIUS Act proposal

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LATEST: File photo shows a bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Phot

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NEWS: Binance to block HTX and 15 other crypto platforms over Russia sanctions

WEBINAR: Why the AMLR could make one-time KYC checks obsolete 

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LATEST: Spain plans levy on banks and gambling firms to fund new AML authority

By PAUL O’DONOGHUE, Senior Correspondent

FOREIGN stablecoin issuers could face tougher requirements to access the U.S. market under a new Treasury proposal implementing the GENIUS Act.

The proposal would require foreign issuers to have the technological capability to comply with US lawful orders. The Treasury is also considering whether platforms should verify smart-contract functions designed to “seize,” “freeze,” and “burn” stablecoins.

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NEWS: Binance to block HTX and 15 other crypto platforms over Russia sanctions

WEBINAR: Why the AMLR could make one-time KYC checks obsolete 

 Premium

LATEST: Spain plans levy on banks and gambling firms to fund new AML authority

Regulatory Watch News

  • Serbia: New GRECO report evaluates progress in anti-corruption measures for the central government and law enforcement

    GRECO

    GRECO has made public today its Fifth Round Second Compliance Report on Serbia, setting out an assessment of the progress made by Serbia in implementing GRECO's recommendations issued in its Fifth Round Evaluation Report to prevent corruption and promote integrity in respect of central governments (top executive functions) and law enforcement agencies.

  • FCA bans senior manager for lack of honesty and integrity

    Financial Conduct Authority

     

    The FCA has banned Howard Roland Duckett from working in financial services due to a serious lack of honesty and integrity.
    Mr Duckett was a senior manager at Beauforce Corporation Limited, a debt management firm. The High Court has disqualified Mr Duckett from acting as a company director for 10 years. It found that he had failed to maintain adequate records while director of an unrelated company. The Court also found that Mr Duckett repeatedly lied and attempted to rely on fabricated evidence to distance himself from the company and deny that he was a director. This included falsely claiming that a fictitious individual was responsible for running the business.

  • Scam alert related to banks

    HKMA

    The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press releases issued by the banks listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which have been reported to the HKMA.  Hyperlinks to the press releases are available on the HKMA website.  

           Bank        Type of Scam
    Chong Hing Bank Limited Fraudulent websites and internet banking login screens
    OCBC Bank (Hong Kong) Limited Fraudulent websites and internet banking login screens
     

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