China Asks Visa, Mastercard to Lower Fees on Domestic Transactions

24/06/2024

Visa and Mastercard were asked to reduce their fees so local merchants are more willing to accept card payments from foreign visitors to China.

Crypto / Digital Assets

SNB Extends CBDC Project ‘Helvetia’ for Two More Years

24/06/2024

The SNB said it has become “the world’s first central bank” to carry out a monetary policy operation in a live production environment using DLT.

ESG / Sustainability

China Issues 3yr Plan to Make Coal Power Greener

24/06/2024

The plan includes financing support for eligible projects through REITs, green bonds, green lending, government investments, subsidies and other channels.

AML / KYC

Korea: Simpler Registration Requirement Yielding More Foreign Inflows

24/06/2024

Around 300-400 new accounts are now being opened each month by foreign investors, compared to just 105 monthly during 2023.

Sanctions

Malaysia, Thailand Commencing Procedures to Join BRICS

24/06/2024

Thailand has submitted a formal letter of intent to join BRICS. Malaysia has decided to join and will start work on the formal procedures “soon”.

Fintech / Regtech

EU Commission Launches Consultation on Use of AI in Finance

23/06/2024

The consultation and a series of workshops target all financial stakeholders, covering use cases, benefits, barriers, risks and stakeholder needs.

Sanctions

Japan Foreign Ministry Announces New Russia Sanctions

22/06/2024

The new measures include a prohibition on exports to 14 entities based in Russia, as well as companies based in China, Hong Kong, India, Kazakhstan and Uzbekistan.

Sanctions

EU Ambassadors Agree on 14th Russia Sanctions Package

22/06/2024

The package includes sanctions on Russia’s LNG sector, the SPFS financial messaging system, and entities in third countries that allegedly helped Russia.

Sanctions

OFAC Sanctions 12 Execs of Cybersecurity Firm Kaspersky Lab

22/06/2024

Kaspersky products, services, and software updates will also be banned in the US starting from 29 September due to the company’s Russian ties.