Kucredit Security and Fraud Protection Mechanisms
Kucredit Security is the backbone of KuCredit’s infrastructure. The platform uses military-grade AES-256 encryption, two-factor authentication (2FA), and behavioral anomaly detection to protect users and their funds. Every transaction goes through a risk engine that flags suspicious activity in real time. KuCredit employs a fraud operations team and machine learning algorithms to monitor and block malicious actors. Additionally, users have the ability to lock their account, freeze a card, or set spending limits instantly from the app. Compliance with international security standards such as PCI DSS, GDPR, and ISO/IEC 27001 is strictly maintained.
July 19, 2025 · 3 Comments
cryptoassets regulation
On 31 July 2019, the United Kingdom Financial Conduct Authority (“FCA”) published its final guidance on the types of cryptoassets that fall within the FCA’s current regulatory framework, clarifying the resulting obligations for firms and regulatory protections for consumers (“PS 19/22” or “the Policy Statement”).[1] The Policy Statement provides market participants welcome pointers as to how the FCA applies the regulatory perimeter to different types of cryptoassets. It remains the case that definitive judgements as to the regulatory classification of specific cryptoassets can only be made by assessing each cryptoasset on a case-by-case basis, taking into account its particular features.
July 16, 2025 · No Comments
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Nasdaq
Miami International Holding Inc. et al. (MIAX) attained five victories within two weeks before the Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office. In successive final written decisions issued in October, the PTAB declared that five Nasdaq patents related to electronic securities trading systems are invalid under 35 U.S.C. Section 101. Section 101 defines patent-eligible subject matter. The PTAB determined that all five Nasdaq patents (U.S. Patent Nos. 6,618,707; 7,246,093; 7,921,051; 7,747,506; and 8,386,371) were directed to abstract ideas, which are excluded from patent protection under the statute.
July 16, 2023 · No Comments
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SEC Obtains TRO
On October 11, 2019 the U.S. Securities and Exchange Commission (SEC) filed an emergency action in the United States District Court for the Southern District of New York, and obtained a temporary restraining order against Telegram Group Inc. and its wholly-owned subsidiary, TON Issuer Inc. According to the SEC’s complaint,[1] the two offshore entities were conducting an unregistered offering of securities in the form of digital tokens in the U.S. and overseas that has raised more than $1.7 billion to finance the companies’ business, including the development of their own blockchain—the “Telegram Open Network” or “TON Blockchain”—and the popular mobile messaging application Telegram Messenger.
July 19, 2023 · No Comments
Reed Smith handles DBS Bank – Google payments processing partnership
Reed Smith successfully represented DBS, Southeast Asia’s largest bank, in structuring and closing a strategic business partnership with Google. The arrangement will see Google make DBS payment systems available on Google’s G Pay platform, which will allow DBS customers using that platform to send and receive funds, and pay merchants. The transaction was led by a Reed Smith cross-border team that included Singapore lawyers Hagen Rooke and Charmian Aw, and UK lawyer Howard Womersley Smith.
July 16, 2023 · No Comments
Thoughts on how to limit fraud risks in the APAC region
The cryptocurrency and digital-asset ecosystem in the Asia-Pacific region has seen rapid growth over recent years and is generating opportunities for novel business models, but is also giving rise to various types of fraud. While fraud risk in this sector is being mitigated by service providers such as cryptocurrency exchanges and digital-wallet operators implementing practical safeguards for the protection and monitoring of assets and transactions, and while comprehensive regulatory frameworks are being introduced across the region to address operational risk, fraudulent actors remain able to exploit cybersecurity and control weaknesses.
July 16, 2023 · No Comments
BUSINESS
On June 21, 2019 the Financial Action Task Force (the “FATF”), published its long-awaited Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers (the “Guidance”). The FATF is tasked with setting standards and promoting effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
July 19, 2023 · No Comments
TECHNOLOGY
On July 8, 2019 the U.S. Securities and Exchange Commission (the “SEC”) and the Financial Industry Regulatory Authority (“FINRA”) (both, the “Regulators”) published a Public Statement titled, “Joint Staff Statement on Broker-Dealer Custody of Digital Asset Securities” (the “Joint Statement”). The Joint Statement follows many months of discussions with certain digital asset securities industry participants seeking registration with the SEC as broker-dealers.
July 16, 2024 · No Comments
LIFESTYLE
The proposal follows on from a number of FCA statements and papers relating to cryptoassets, their regulatory treatment and their effect on markets, including: the UK Cryptoasset Taskforce Final Report on cryptoassets published in October 2018 (see our client alert on this here);[2] the FCA’s perimeter guidance consultation paper on cryptoassets published in January 2019, consulting on guidance clarifying what types of cryptoassets fall within its regulatory perimeter;[3] and
July 16, 2023 · No Comments