Crypto Monthly Update – May 18, 2022

Course Duration: 18 minutes
Course Points: 

Fintelekt Academy presents the May 2022 Crypto Monthly Update by Calvin Koo, Cross-Border Disputes and Investigations Lawyer from Kobre & Kim LLP.

In this episode, Calvin covers the risks associated with Stablecoins and the viewpoints of various regulators on it, a round-up of crypto-related enforcement and legal news and much more!

Key issues featured in this update:

  • FATF’s Report on Stablecoins
  • Hong Kong Monetary Authority’s paper on Stablecoins
  • Dip in the cryptocurrency market
  • US Securities and Exchange Commission’s view on protecting investors in the crypto markets
  • US$182 million stolen from hack of Beanstalk
  • Laundering of funds stolen from the Axie Infinity hack
  • OFAC includes mixer services into their sanctions list
  • Central African Republic makes bitcoin legal tender

Tune in to listen to the entire episode.

Crypto Monthly Update – April 20, 2022

Course Duration: 15 minutes
Course Points: 

Tune in to Fintelekt Academy for the latest April 2022 Crypto Monthly Update by Calvin Koo, Cross-Border Disputes and Investigations Lawyer from Kobre & Kim LLP.

In this episode, Calvin covers the recent hack at popular non-fungible-token (NFT) based online game Axie Infinity, crypto regulations for various jurisdictions, steps being taken by regulators across the globe to curb the misuse of crypto, and a round-up of crypto-related enforcement and legal news.

Key issues featured in this update:

  • Laundering of US$625 million in cryptocurrency from the Ronin blockchain network hack
  • A new rule proposed by U.S. SEC expanding the definition of regulated “dealers”
  • European Union parliament in favor of requiring crypto exchanges and other service providers to comply with the Travel Rule
  • Rules introduced by South Korean crypto exchanges to comply with the Travel Rule for transactions above about USD 800
  • Regulations introduced by Singapore’s Financial Services and Markets Bill for crypto service operators created in Singapore
  • Chinese regulators’ stand on NFTs
  • Shut down of darknet website Hydra by U.S. DOJ and German Federal Criminal Police

Log in to Fintelekt Academy (free registration required) for this Crypto Monthly Update in the third week of every month!

Conversations: Leah Callon-Butler, Emfarsis

Course Duration: 30 minutes
Course Points: 30

In this episode of Fridays with Fintelekt, host Shirish Pathak, Managing Director, Fintelekt Advisory Services is in conversation with Leah Callon-Butler, Director, Emfarsis on cryptocurrency and blockchain adoption, its challenges and potential benefits to society.

Leah’s company Emfarsis, helps early stage companies with their product to market fit. She says that often when a new technology is evolving, it isn’t clear to consumers how it can solve their needs. The same goes for blockchain and cryptocurrencies and Leah works to tell the right stories about how this technology can improve people’s lives. 

An example is her video about the Play to Earn NFT game – Axie Infinity – which has garnered considerable popularity amongst people affected by the pandemic by helping them with an alternative revenue source as it allows cashing out into real money (

While Leah is all for allowing innovators to build new solutions, she recognises the role of regulation in fostering trust and confidence, in making regulated financial institutions enter the space and make it more accessible. However, there is a fine balance to be achieved. She feels that regulating too early without proper industry consultation and understanding of how the technology works could lead to unintended consequences. She thinks that blockchain technology could be more useful to compliance and potentially be a better way to prevent crime. 

For more such insights around the challenges with the FATF travel rule, the financial inclusion potential of the crypto economy, and a variety of resources that the compliance community can use to keep in touch with developments in this space, watch the entire episode. 

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