Crypto Assets Could Enter Insurers’ Portfolios as Hong Kong Reviews Capital Rules
Hong Kong regulators are reviewing capital requirements for insurers, a move that could eventually open the door for insurance companies to hold cryptocurrencies and other digital assets as part of their investment portfolios. The review signals a cautious but notable shift in how one of Asia’s leading financial hubs is approaching crypto integration within traditional […]
US SEC Takes Action On Abra For Unregistered Crypto Offers
The US SEC has initiated legal proceedings against Abra, accusing the crypto firm of providing unregistered digital asset services that contravene securities laws. In the most recent crackdown, the US SEC has charged Abra, a cryptocurrency firm, with providing unregistered digital asset services to its clients. In a recent press release, the US Securities and […]
Law Commission Suggests New Property Category for Crypto Assets
In its final report on digital assets, the Law Commission of England and Wales encouraged the government to classify all crypto assets as a new form of personal property. The Law Commission is an independent entity predominantly responsible for reviewing and recommending law reforms in England and Wales. It issued a supplemental report on July […]
IMF Publishes Working Paper to Address Crypto Assets Risks
The International Monetary Fund (IMF) published a working paper matrix that aims to identify potential risks associated with the crypto space and policy responses for regulators. The IMF released a working paper titled “Assessing Macrofinancial Risks from Crypto Assets” on September 29. Burcu Hacibedel and Hector Perez-Saiz proposed a crypto-risk assessment matrix (C-RAM) for countries […]
South Korea to Introduce Bill to Freeze North Korean Crypto Assets
According to reports, the South Korean government intends to introduce a measure to track and freeze North Korean virtual and crypto assets used to fund illicit weapons programs. According to a report by a local news outlet, Korea JoongAng Daily, multiple anonymous government sources confirmed on August 3 that the bill is in the works. […]