Sanctions

Iran Launch of CBDC to Combat Sanctions is ‘Imminent’ – Report

02/12/2024

The Central Bank of Iran also recently launched a SWIFT alternative, the “ACU-MIR” system, which is enabling transactions with countries such as India and Pakistan.

China NFRA Encouraging Banks to Lend to Small & Micro Enterprises

02/12/2024

The NFRA has revised its framework for annual regulatory evaluations of banks to increase focus on the provision of credit to micro and small enterprises.

Crypto / Digital Assets

HKMA Announces Launch of Digital Bond Grant Scheme

30/11/2024

The scheme offers grants of up to HK$2.5mn for each eligible digital bond issuance to promote bond tokenisation in Hong Kong.

Market Infrastructure

BOK Cuts Rates Again in Response to Trade Uncertainties

30/11/2024

This is the first back-to-back rate cut since 2019, signalling concerns over the clouded outlook for Korea’s export-reliant economy.

Fintech / Regtech

China Issues Action Plan for Further Developing Digital Finance

30/11/2024

FIs are directed to designate a leading department for digital transformation and improve the quality and efficiency of digital financial services.

AML / KYC

AUSTRAC Fines 16 Firms for Failure to Submit Compliance Reports

30/11/2024

The infringement notices were issued for failure to submit 2023 annual compliance reports. The firms had a history of non-compliance.

Market Infrastructure

Australian Parliament Passes First Tranche of Privacy Law Reforms

29/11/2024

The reforms expand the OAIC’s powers, giving it monitoring, investigative and inspection powers and the ability to issue infringement and compliance notices.

AML / KYC

FCA Unveils New 5-year Strategy to Boost Trust in UK Market

29/11/2024

FCA chief operating officer Emily Shepperd said tackling financial crime is one of four pillars of the new strategy.

Capital / Liquidity

BCBS Finalises Technical Amendments to Basel Framework

29/11/2024

The amendments concern the standardised approach to credit risk and the capital charge for Group 2a cryptoassets. An amendment to the CCR framework is also proposed.