The $6.4 billion Binance hack has exposed how decentralized finance can help attackers move stolen assets beyond the reach of freezing powers, underscoring what's at stake in the U.K.'s review of financial crime risks linked to DeFi, lawyers say.
The $6.4 billion Binance hack has exposed how decentralized finance can help attackers move stolen assets beyond the reach of freezing powers, underscoring what's at stake in the U.K.'s review of financial crime risks linked to DeFi, lawyers say.
The Financial Conduct Authority has said it will simplify U.K. rules governing derivatives deals between companies in the same corporate group, shortening notification periods and reducing paperwork for firms seeking exemptions from clearing and margin requirements.
The Bank of England said Wednesday that it is starting to design a new system for everyday payments to reduce fraud, give consumers and businesses more choice over how they pay and to support emerging forms of digital cash.
A Singaporean oil company failed to impose a freezing order against its former chief executive and "de facto chief financial officer" after a London appellate court ruled that it had not demonstrated the men were trying to hide allegedly misappropriated funds.
Almost two-thirds of young people in the U.K. have encountered suspicious money-making offers online, with criminals increasingly using social media to recruit money mules, a trade body warned Wednesday.
