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BRITAIN’S financial watchdog said on Wednesday (Jan 11) it had fined Al Rayan Bank £4 million (S$6.5 million) for failing to put in place adequate controls to prevent money laundering.

CREDIT Suisse Group is considering cutting the bonus pool for 2022 by about half, according to people familiar with the matter, capping a grim year in which the bank was forced to raise US$4 billion after a string of losses.

GAINS in the Thai baht, Asia’s best performer in the past six months, is frustrating exporters and many private companies that are complaining that the strong currency is hurting them.

AN unexpected rally in the Indian rupee to above 82 to the US dollar was powered mostly by offshore market participants and helped the non-deliverable forward (NDF) and onshore rates to almost converge, traders said on Wednesday (Jan 11).

US-BASED cryptocurrency exchange Coinbase Global is closing the bulk of its operations in Japan as part of a move to adjust international investment amid a slump in the digital-asset sector.

INDONESIA’S wealth fund is seeking to accelerate its timeline to hit its US$200 billion target by 2024 as it eyes more energy and digital investments, according to its chief executive officer.

VOYAGER Digital won court approval to sell its crypto platform to Binance.US for US$20 million as part of Voyager’s plan to liquidate in bankruptcy.

THE brother of a former Coinbase Global product manager was sentenced to 10 months behind bars for his role in a scheme to trade on inside information about when the cryptocurrency exchange was going to list new tokens.

WELLS Fargo & Co will slim down its home lending business by reducing its mortgage servicing portfolio and exiting the correspondent lending business, the company said on Tuesday. “We are making the decision to continue to reduce risk in the mortgage business by reducing its size and narrowing its focus,”...

BINANCE Holdings, the biggest cryptocurrency exchange, acknowledged past flaws in the management of its stablecoin’s reserves which at times led to more than US$1 billion in missing collateral, according to one analysis.