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Category: Compliance

  • [MAS etc.] INTER-MINISTERIAL COMMITTEE ON ANTI-MONEY LAUNDERING

    [MAS etc.] INTER-MINISTERIAL COMMITTEE ON ANTI-MONEY LAUNDERING

    Wei Xiang

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    The IMC is strengthening the three key pillars of Singapore’s AML framework: Prevent, Detect, Enforce. PROACTIVE PREVENTION Strengthen AML standards for gatekeepers Further support gatekeepers to enhance capabilities to combat money laundering Engage non-regulated sectors to enhance their understanding of ML risks Strengthen mechanisms to deter misuse of companies TIMELY DETECTION Strengthen sensemaking and information-sharing… Read more

  • [DFSA] Regulation of Crypto Tokens

    [DFSA] Regulation of Crypto Tokens

    Wei Xiang

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  • [pwc] QFC Digital Asset Regulations 2024

    [pwc] QFC Digital Asset Regulations 2024

    Wei Xiang

    The Qatar Financial Centre (QFC) has introduced new regulations for digital assets, effective from September 1, 2024. These regulations aim to establish a comprehensive framework for token-based activities within the QFC. QFC has defined a broad scope for the new regulations, focusing on permitted tokens and token services providers: QFC has defined clear rules for… Read more

  • [Failsafe X LDU] The Guide To BLOCKCHAIN SECURITY AND COMPLIANCE

    [Failsafe X LDU] The Guide To BLOCKCHAIN SECURITY AND COMPLIANCE

    Wei Xiang

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    Key MAS Requirements for SPIL/MPIL Licensees: 1. Technology Risk Management 2. Critical System Identification and Data Protection 3. Cyber Hygiene and IT Security 4. Incident Response and Reporting Practical Steps and Best Practices: 1. Developing a Technology Risk Management Strategy 2. Cybersecurity Best Practices for Digital Asset Companies 3. Preparing for MAS Audits and Inspections… Read more

  • [Law Commission] Digital assets as personal property: Supplemental report and draft Bill

    [Law Commission] Digital assets as personal property: Supplemental report and draft Bill

    Wei Xiang

    Digital assets are increasingly important in modern society. They are used for an expanding variety of purposes — including as valuable things in themselves, as a means of payment, or to represent or be linked to other things or rights — and in growing volumes. Electronic signatures, cryptography, smart contracts, distributed ledgers and associated technology… Read more

  • [LDU] Navigating Web3: A Legal Handbook for Innovators

    [LDU] Navigating Web3: A Legal Handbook for Innovators

    Wei Xiang

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    The goal of this eBook is to equip Web3 innovators, startups, and entrepreneurs with practical legal guidance specific to decentralized ecosystems. We aim to help you understand the key regulatory frameworks, avoid common legal pitfalls, and make informed decisions about compliance, fundraising, and offshore structuring. Regulations such as AML (Anti-Money Laundering) and KYC (Know Your… Read more

  • SCA and VARA set regulatory framework for the UAE’s virtual assets sector

    SCA and VARA set regulatory framework for the UAE’s virtual assets sector

    Wei Xiang

    The Securities and Commodities Authority (SCA) signed a cooperation agreement with Dubai’s Virtual Assets Regulatory Authority (VARA) to bolster the UAE’s position as a leading global hub for virtual assets, in alignment with the ‘The Principles of the 50’ and the government’s visionary aspirations to build the world’s best and most dynamic economy. “We strive… Read more

  • [elven] Deep Dive into Dubai VARA License

    [elven] Deep Dive into Dubai VARA License

    Wei Xiang

    VARA License: The Dubai Virtual Assets Regulatory Authority (VARA) has established moderate and transparent compliance regulations for Virtual Asset Service Providers (VASPs) under Dubai VA Law (Law No. 4 of 2022). As of now, 13 VASPs have obtained licenses, and another 8 are in the application process. Disclosure Requirements: In terms of record-keeping and compliance… Read more

  • [elven] Deep Dive into Hong Kong SFO / AMLO License

    [elven] Deep Dive into Hong Kong SFO / AMLO License

    Wei Xiang

    SFO/AMLO Licenses: The Hong Kong Securities and Futures Commission (SFC) has established strict and transparent compliance regulations for Virtual Asset Trading Platforms (VATPs). The licenses under the Securities and Futures Ordinance (Cap. 571) (SFO) and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (AMLO) are highly applicable to VATPs. Currently, two virtual asset trading… Read more

  • [BitCompli] Navigating MiCA Compliance: Key Requirements & Actionable Steps for European CASPs

    [BitCompli] Navigating MiCA Compliance: Key Requirements & Actionable Steps for European CASPs

    Wei Xiang

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