On September 30, 2022, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) published an enforcement release on the USD 116,048 settlement with Tango Card, Inc. (Tango Card).
On December 22, 2020 the Securities and Exchange Commission (“SEC”) adopted amendments under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors (“New Rule”). The aim of the amendments is to create a single modernized rule that regulates investment advisers’ marketing communications in today’s ever-evolving advertisement practices, technology and expectations.
After extensive negotiations, the European Union (EU) recently reached a provisional agreement on what will likely become the first major and most comprehensive crypto regulation framework globally.
Over the last few years, Southeast Asia has been one of the frontrunners in fintech adoption globally. The combination of a sizable, young, tech-savvy population that actively uses e-commerce and digital payments, extensive mobile internet coverage, and government support have made it one of the fastest-growing fintech markets globally.
On August 8th, 2022 the Ethereum smart-contract mixer Tornado Cash was sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) for its role in laundering more than $7 billion worth of cryptocurrency since its creation in 2019. Of this amount, over $455 million was stolen by the North Korean state-sponsored hacking organization Lazarus Group which the US sanctioned in 2019.
