Stablecoins

Japan: JVCEA Becomes Self-Regulatory Body for Stablecoins

26/10/2024

The FSA has recognised the JVCEA as the self-regulatory body for stablecoins and fund transfer businesses, on top of its existing focus on crypto exchanges and crypto-related derivatives trading firms.

PEPs & Sanctions

DOJ Can Prosecute State-Owned Turkish Bank, Court Rules

25/10/2024

Halkbank was accused in 2019 of helping Iran to evade US sanctions, but the possibility of legal immunity surrounding the case has been ongoing until now.

Structural Regulation

NZX Amends Market Maker Eligibility Settings, Effective 22 Nov

25/10/2024

From 22 November, firms will be able to participate as market makers without being direct trading participants of NZX.

Climate Risk

BCBS Seeking Better Understanding of Banks’ Climate Practices

25/10/2024

The BCBS surveyed banks on their practices for collecting data, adapting their IT systems, and using tools like scenario analysis, among other areas.

KYC & CDD

GLEIF Opens Mumbai Office to Support LEI Adoption in India

25/10/2024

The new office will help GLEIF build closer engagement with the market to ease and support LEI adoption, while also spreading awareness of the vLEI.

PEPs & Sanctions

US Finalised $20b Portion of G7 Loan for Ukraine

24/10/2024

The rest of the $50bn loan will be provided by other G7 allies. Earnings from frozen Russian assets will be used for repayments.

Structural Regulation

China Approves New Insurance Units by BNP Paribas, Prudential

24/10/2024

The NFRA approved the creation of a property insurance joint venture between BNP and Volkswagen Financial Services; and an insurance asset management firm by Prudential Financial.

CBDCs

CBDC Platform mBridge is Open to US Dollar Inclusion: Central Bankers

24/10/2024

Current and former central bankers speaking at Sibos discussed the importance of the mBridge platform and how it can evolve to meet broader market needs.

Anti-Money Laundering

FinCEN Issues New Alert on Countering Hezbollah Activities

24/10/2024

The alert builds on a May advisory on Iran-backed terrorist groups and sets out indicators to assist FIs in identifying and reporting activity involving Hezbollah.