Crypto / Digital Assets

India: Four Public Sector Banks to Run CBDC Pilot

05/09/2022

The RBI has reportedly asked State Bank of India, Punjab National Bank, Union Bank of India and Bank of Baroda to run a CBDC pilot internally.

Enforcement

Korean Authorities Arrest 16 Over Illegal FX Transactions

05/09/2022

In some cases, funds were remitted overseas via commercial banks, disguised as payments for trade businesses to exploit the “Kimchi premium”.

Hong Kong Targets Removal of Hotel Quarantine Requirement

05/09/2022

Chief Executive John Lee is leaning towards scrapping hotel quarantine before a November summit of global bankers and the Hong Kong Rugby Sevens tournament.

Crypto / Digital Assets

New Crypto Advertising Rules Take Effect in Thailand

04/09/2022

Crypto firms with advertising already on display have 30 days to amend their advertisements to achieve compliance with the new rules.

Securities / Derivatives

Russia Bond CDS Auction to Be Held on 12 September

04/09/2022

The amounts holders of CDS on Russian debt are likely to receive has reportedly dropped by about a third since early June.

AML / KYC

German Prosecutors Raid JP Morgan as Part of Cum-Ex Probe

04/09/2022

Around 1,500 people are currently under investigation across 50 international and domestic financial institutions and brokers.

Market Infrastructure

Shenzhen, Hong Kong to Establish Qianhai FTZ as VC Hub

04/09/2022

VC firms, sovereign wealth funds, and PE funds that set up in the Qianhai free-trade zone will be given cash grants, rental subsidies, and other rewards.

International Court Orders Korea to Pay Damages Over 2012 KEB Sale

04/09/2022

US PE firm Lone Star Funds initially planned to sell its stake in KEB for $6.3bn in 2008. Following approval delays, the stake was eventually sold in 2012 for just $2.9bn.

Crypto / Digital Assets

FBI Calls on DeFi Platforms to Bolster Safeguards Against Theft

04/09/2022

DeFi platforms are asked to institute real time analytics, monitoring, rigorous code testing, and incident response plans.