Fintech / Regtech

PDPC Issues Data Protection Guidance for Blockchain Apps

22/07/2022

The guidance provides data protection recommendations for firms developing and deploying blockchain apps that process personal data.

Crypto / Digital Assets

UK Gov Publishes Financial Services and Markets Bill

22/07/2022

The bill establishes HM Treasury’s authority to make regulations for digital assets including stablecoins.

Enforcement

China CAC Fines Didi ¥8bn for Data Security Breaches

22/07/2022

The fine is seen as a sign that China’s regulatory crackdown in the tech sector is winding down. Didi is expected to be able to resume normal operations.

Mortgage Refinancing Transactions Made Safer in Hong Kong

21/07/2022

Under the new PAPT mechanism, mortgage refinance proceeds can be transferred directly from one bank to another rather than via a law firm.

Capital / Liquidity

BNM Sets Deadline for Foreign Insurers to Reduce Stakes in Local Firms

21/07/2022

Most foreign insurers in Malaysia have not complied with a 70 percent limit set in 2009 on their ownership in local firms.

Fintech / Regtech

Five ASEAN Central Banks to Link Payment Systems

21/07/2022

The central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand will formally sign an agreement on payment connectivity in November.

Fintech / Regtech

Philippines: Diokno Directs SEC to Further Digitalise Markets

21/07/2022

Finance Secretary Benjamin Diokno directed the SEC to use digital technologies to improve monitoring, build investor trust, protect the investing public, and better serve the economy.

Market Infrastructure

NZ FMA Consults on New Licence Conditions Under CoFi

21/07/2022

Banks, insurers and non-bank deposit takers will need a ‘financial institution licence’ issued by the FMA starting in early 2025.

Capital / Liquidity

China to Recapitalise Small Banks Through Local Government Debt

21/07/2022

Regulators are working to accelerate the issuance of special local government bonds to help boost the capital of small and medium-sized banks.