According to the official website of the Cyberspace Administration of China (“CAC”), the Measures on Security Assessment of Cross-border Data Transfer (Draft for Comment) (the “Measures”) was released for public comment for one month as of 29 October. Article 1 of the Measures sets out the purpose and value of its introduction – “to regulate the cross-border transfer of data, protect the rights and interests in personal information, safeguard national security and social and public interests as well as promote the safe and free flow of data across borders.”…
Continue Reading Interpretation of the Measures on Security Assessment of Cross-border Data Transfer (Draft for Comment)

On October 15, 2021, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) published its “Sanctions Compliance Guidance for the Virtual Currency Industry” (Guidance). The publication uses a concise and reader-friendly format to inform members of the cryptocurrency industry and the broader public about how OFAC intends to regulate transactions involving cryptocurrencies within the existing framework of sanctions compliance. Most importantly, it outlines the degree of due diligence required to avoid facilitating cryptocurrency transactions with sanctioned individuals and entities and advises cryptocurrency users on best practices as well as the steps they should take if they find themselves transacting with sanctioned individuals and entities.
Continue Reading OFAC : Guidance on Sanctions Compliance and Virtual Currencies