Swiss Financial Watchdog Releases Revised AML Ordinance, Clarifies Crypto Requirements
The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms. It also clarified certain reporting and identification requirements that apply to crypto transactions. Financial Authorities Adjust Swiss Anti-Money Laundering Rules Concerning Crypto Transfers Following consultations that started earlier this year, the Swiss...
JPMorgan, DBS Bank, SBI Complete Live Defi Trades on Public Blockchain
JPMorgan, DBS Bank, and SBI Digital Asset Holdings have completed their first lives trades on a public blockchain using decentralized finance (defi), tokenized deposits, and verifiable credentials under the supervision of the Monetary Authority of Singapore (MAS). Singapore’s central bank is planning two more pilots that involve Standard Chartered Bank, HSBC, and UOB. JPMorgan, DBS Bank, SBI, Standard Chartered Bank, HSBC, UOB...
US Lawmakers Accuse Gary Gensler of ‘Hypocritical Mismanagement of SEC’ — Say the Chairman ‘Refuses to Practice What He Preaches’
Four congressmen have accused the U.S. Securities and Exchange Commission (SEC) under Chairman Gary Gensler of “regulatory hypocrisy and inconsistency.” They added: “While the SEC is failing to comply with federal transparency and record-keeping laws, the SEC is aggressively enforcing record-keeping laws on private businesses.” Gensler’s Regime at SEC ‘Has Been Characterized by Regulatory Hypocrisy and Inconsistency’ Four lawmakers...
Record Labels Wins $47 Million Piracy Liability Verdict Against ISP Grande
Three years ago, several of the world’s largest music companies including Warner Bros. and Sony Music sued Internet provider Grande Communications. The recording labels accused the Astound-owned ISP of not doing enough to stop pirating subscribers. Specifically, they alleged that the company failed to terminate repeat infringers. Jury Finds Grande Guilty The case eventually went to trial which, after more than two weeks, reached its...
MPA: Mandatory Release Windows Could Exacerbate Piracy
The Motion Picture Association (MPA) represents several of the world’s largest movie industry companies. Traditionally its members were restricted to top Hollywood studios such as Disney and Warner Bros, but three years ago streaming giant Netflix joined the exclusive club. The newcomer hasn’t changed the MPA’s main goal of protecting its members’ content from piracy. The MPA is the driving force behind the Alliance for Creativity and...
