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Category: Compliance

  • [The Network Firm] 2025 Crypto Accounting Guide: How to Protect Your Startup from Financial Pitfalls

    [The Network Firm] 2025 Crypto Accounting Guide: How to Protect Your Startup from Financial Pitfalls

    Wei Xiang

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    Bitcoin ETFs have arrived. Token ETFs are next.  Regulatory clarity is improving, and institutional interest in the crypto space is steadily growing.  With these market shifts, expectations for financial transparency and operational rigor are higher than ever—especially for crypto startups. As a crypto founder or CFO, it’s essential to establish sound financial practices early to meet… Read more

  • [BIS] Cryptocurrencies and decentralised finance: functions and financial stability implications

    [BIS] Cryptocurrencies and decentralised finance: functions and financial stability implications

    Wei Xiang

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    1. DeFi mimics traditional finance (TradFi) functions but introduces new risksDeFi aims to provide financial services such as payments, lending, and asset management without intermediaries. However, its design—based on anonymity and automation—exposes users to new forms of market failures, including information asymmetry and systemic vulnerabilities. 2. Smart contracts and composability: innovation and fragilitySmart contracts enable… Read more

  • [FIAU] Administrative Measure Publication Notice – OKCoin Europe Limited

    [FIAU] Administrative Measure Publication Notice – OKCoin Europe Limited

    Wei Xiang

    Date of Sanction: April 1, 2025Entity: OKCoin Europe LimitedSector: Virtual Asset Service Provider (VASP)Supervisory Action: On-site compliance review conducted in April 2023Penalty Imposed: €1,054,269 fine and a follow-up directive under Regulation 21 of the PMLFTR Business Risk Assessment (BRA) Deficiencies: Customer Risk Assessment (CRA) Failures: Customer Profile and Business Relationship Monitoring: Ongoing Monitoring and Enhanced… Read more

  • [SFC] Terms and conditions for providing staking services

    [SFC] Terms and conditions for providing staking services

    Wei Xiang

    Key Purpose To ensure that staking services provided by licensed virtual asset trading platforms are conducted safely, transparently, and with robust investor protections, especially for retail clients. Scope of Staking Services Custody & Safeguards Risk Management Operators must: Client Communication & Transparency Blockchain Protocol & Validator Assessment Recordkeeping & Reporting Read more

  • PwC Global Crypto Regulation Report 2025

    PwC Global Crypto Regulation Report 2025

    Wei Xiang

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    The U.S. moves towards regulatory clarity Asia’s proactive crypto regulations MiCAR’s transitional period creates uncertainty Middle East and emerging market frameworks UK’s cryptoasset regime in progress Integration of crypto into traditional finance Read more

  • [HKMA] Distributed Ledger Technology in the Financial Sector: A Study on the Opportunities and Challenges

    [HKMA] Distributed Ledger Technology in the Financial Sector: A Study on the Opportunities and Challenges

    Wei Xiang

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    In recent years, the financial services industry has witnessed a significant transformation, driven by the emergence of innovative technologies that are redefining the way institutions operate, interact with customers, and manage risk. Among these technological advancements, Distributed Ledger Technology (DLT) has garnered significant attention for its potential to enhance transparency, efficiency, and security in financial… Read more

  • [Grant Thornton] 2025 Crypto Policy Outlook

    [Grant Thornton] 2025 Crypto Policy Outlook

    Wei Xiang

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    Under the second Trump administration, U.S. regulatory attitudes have fundamentally shifted toward supporting digital assets. That has created new momentum for legislation on cryptocurrencies, including stablecoins. President Trump signed an executive order declaring crypto a national priority and supporting “the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.”… Read more

  • [Cayman Islands Government] VIRTUAL ASSET (SERVICE PROVIDERS) (AMENDMENT) REGULATIONS, 2025

    [Cayman Islands Government] VIRTUAL ASSET (SERVICE PROVIDERS) (AMENDMENT) REGULATIONS, 2025

    Wei Xiang

    This document outlines the latest amendments to the Virtual Asset (Service Providers) Act (2024 Revision) under the Virtual Asset (Service Providers) (Amendment) Regulations, 2025 (SL 19 of 2025), published on February 27, 2025. The key changes include: Conclusion: The 2025 amendments introduce stricter licensing requirements, updated fees, and enhanced regulatory oversight for VASP operations in… Read more

  • [Pragmax Consulting] Redefining Compliance: From Cost to Competitive Advantage

    [Pragmax Consulting] Redefining Compliance: From Cost to Competitive Advantage

    Wei Xiang

    Challenging Compliance Myths: The True Meaning of Compliance: Conclusion: Compliance, when approached strategically, becomes a powerful tool for growth, innovation, and resilience. It empowers businesses not just to survive but to thrive by creating a solid foundation for long-term success. https://www.pragmaxconsulting.com/post/redefining-compliance-from-cost-to-competitive-advantage Read more

  • [TRM] The Journey to a Crypto License in Singapore

    [TRM] The Journey to a Crypto License in Singapore

    Wei Xiang

    1. Evolution of Crypto Licensing in Singapore 2. Substance Over Form in the Application 3. Significance of a Singapore License https://www.trmlabs.com/post/webinar-recap-the-journey-to-a-crypto-license-in-singapore Read more