Fintech / Regtech

Philippines Proposes Regulatory Framework for ICOs

09/08/2018

Draft rules propose issuers undergo initial assessment to determine if ICO tokens are securities; security tokens must be registered with the SEC and proceeds must be maintained in escrow.

Securities / Derivatives

SFC Warns Against Disguised Margin Financing

06/08/2018

Suspected margin financing arrangements involve unlicensed affiliates of licensed corporations or third parties who appear to be engaging in securities margin financing without an SFC licence in order to circumvent regulatory requirements.

AML / KYC

Philippines, Indonesia to Cooperate on AML/CFT

06/08/2018

The governors of BSP and BI signed an MoU to cooperate on AML and CFT for payment and settlement systems, focusing on policy dialogue, information exchange and capacity building.

Fintech / Regtech

S. Korea FSS Pushes for Blockchain Use in Stock Transactions

06/08/2018

FSS is advocating for regulatory agencies and private companies to work together to enable stock trading through blockchain, noting progress in the US, UK, Japan and Australia to move forward on the technology.

Securities / Derivatives

China Raises Reserves Required to Short Yuan in Bid to Stem Losses

06/08/2018

Chinese yuan reached its lowest level since end-May 2017 amid growing economic uncertainty and trade war concerns, prompting the PBOC to defend the currency by making it more costly to bet on weakness.

AML / KYC

RBI Probes KYC/AML Compliance at Payments Banks

06/08/2018

Paytm and Fino Payments Bank have been barred from accepting new clients due to the RBI’s concerns about their adherence to KYC/AML norms.

AML / KYC

S. Korea Announces Revised Tax Bill

06/08/2018

Bill expands crackdown on tax evasion, ends derivatives tax exemptions, disqualifies crypto exchanges as SMEs for tax reductions.

Capital / Liquidity

PBOC Takes Softer Stance on Bank Lending Caps – Report

02/08/2018

Central bank guidance indicates a willingness to be more flexible on lending caps, as economy starts to cool and is threatened by a trade war with the US.

Market Infrastructure

IOSCO Issues Recommendations on Managing Extreme Volatility

02/08/2018

IOSCO believes volatility control mechanisms support the goal of ensuring markets are fair, efficient and transparent, thereby increasing market integrity and investor confidence.