Enforcement

Chinese Court Hands Death Sentence to Former Huarong Official

30/05/2024

Bai Tianhui is the second Huarong official to receive a death sentence for corruption after Lai Xiaomin in 2021.

Crypto / Digital Assets

‘Gemini Earn’ Investors Secure Return of $2b in Crypto Assets

30/05/2024

Investors are receiving their digital assets “in kind”, meaning they benefit from crypto price increases since withdrawals were halted in January 2023.

Sanctions

HSBC Completes Sale of Russian Unit to Expobank

30/05/2024

The deal received approval in February but it has taken until now for the sale to be successfully concluded.

Fintech / Regtech

EU Commission Establishes Artificial Intelligence Office

30/05/2024

The new Office is preparing guidelines on AI system definitions and prohibitions, and preparing to draw up codes of practice for general-purpose AI models.

Securities / Derivatives

Major FMIs Offer Blueprint for Digital Asset Ecosystem

30/05/2024

DTCC, Clearstream And Euroclear seek to promote the adoption and acceptance of tokenisation and digital asset securities.

Big Picture

BIS Explores GenAI Use to Boost Central Bank Cybersecurity

30/05/2024

Existing IT staff at central banks may not be fully prepared to handle the fast and disruptive innovations associated with GenAI.

Crypto / Digital Assets

Authorities Take Down “World’s Largest” Malicious Botnet

30/05/2024

US authorities, with international partners, arrested the botnet’s administrator and seized infrastructure and assets.

Crypto / Digital Assets

US Treasury Publishes Illicit Finance Risk Assessment on NFTs

30/05/2024

NFTs are “highly susceptible” to use in fraud and scams, but “rarely” used for proliferation financing or terrorist financing.

Shanghai Announces Measures to Boost Property Market

29/05/2024

The measures include lower minimum down payment ratios and mortgage rates for first- and second-home buyers.