In order to strengthen the supervision of the cryptocurrency market, the Monetary Authority of Singapore (MAS) has amended the Payment Services Act and other related laws to expand the scope of supervision to a wider range of digital payment token (DPT) services, including custody services, DPT transmissions and cross-border fund transfers. The new rules, which will take effect on 4 April, are designed to align with global anti-money laundering (AML) and countering the financing of terrorism (CFT) standards, while enhancing user protection and ensuring financial stability. MAS requires DPT service providers to segregate customer assets, maintain accurate books and records, and ensure that assets are safe against cyber threats and operational risks. The new rules also include transitional arrangements to help existing service providers comply by October 4. （Coin Edition）

The U.S. Treasury Department's recent risk assessment report shows that criminals are increasingly using virtual assets for illegal activities. Some virtual asset service providers (VASPs) have either claimed to be exempt from US regulations or have failed to register properly, creating challenges for regulatory oversight, the report said. The report also says that some existing Decentralized Finance services fail to comply with AML/CFT regulations, making them vulnerable to exploitation by criminals. Certain terrorist groups, including ISIS-K and Hamas, have developed a deeper understanding of virtual assets and are experimenting with different types of use.

R&D firm Delphi Labs and the Astroport Foundation have launched an inscription platform called Asteroid for the Cosmos Hub network, Gold Finance reported. Asteroid contributors released the first CFT-20 Token, Asteroids (ROIDS), on Tuesday as a proof of concept. The total supply of this Token is 100 million.

On November 24, the European Banking Authority (EBA) issued a consultation paper today saying that the current European regulations are no longer sufficient to manage AML/CFT standard compliance between cryptocurrency providers, and proposes to merge the AML/CFT standards of payment service providers (PSPs) and crypto asset service providers (CASPs); protocol and blockchain network compatibility to facilitate integration, as well as to evaluate data integration and data reliability. Under the proposed new rules, CASPs would also need to obtain and hold information on self-custody addresses, ensure that cryptoasset transfers can be individually identified, and verify that the address is owned or controlled by CASP customers. These requirements will be enforced when the transfer amount in a self-custody account is higher than €1,000 (it is not specified whether it will be monthly, daily or single). The new guidelines are scheduled to come into effect on December 30, 2024.

PANews reported on November 24 that the European Banking Authority (EBA), the European Union's banking regulator, issued a consultation paper today saying that the current European regulations are no longer sufficient to manage AML/CFT standard compliance among cryptocurrency providers. The EBA proposes to merge AML/CFT standards for Payment Service Providers (PSPs) and Crypto Asset Service Providers (CASPs). It also recommends requiring CASPs to "transmit information in a seamless and interoperable manner" by enhancing the interoperability of their protocols. The EBA has asked interested parties to comment by February 26, 2024. After soliciting comments, the new guidelines will take effect on December 30, 2024. Under the proposed new rules, CASPs would also need to obtain and hold information on self-custody addresses, ensure that transfers of crypto assets can be individually identified, and verify that the address is owned or controlled by the CASP customer. These requirements will be enforced when the transfer amount for a self-custody account is higher than €1000, although the EBA does not specify whether it will be monthly, daily, or single.