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Stablecoins
Ripple Announces Plans to Issue USD-backed Stablecoin
05/04/2024
Ripple said its reserve assets will be audited by a third-party accounting firm and that it will publish monthly attestations.

Structural Regulation
IOSCO Proposes Guidance on Supervision of Exchanges
05/04/2024
The consultation report provides guidance on supervising exchanges that provide multiple services or are part of a larger group.

Payments & Settlements
ECB Announces Participants for Upcoming DLT Settlement Trials
05/04/2024
The first wave of trials will involve ten market participants, six market DLT operators, and five central banks.

Conduct, Culture & Accountability
US SEC Fines Another Investment Adviser Over Text Messaging
04/04/2024
Senvest Management was fined $6.5mn for failing to preserve business communications that took place on personal devices and messaging apps.

AI Risk & Governance
FSS Korea to Use Naver’s AI Tech in Supervisory Work
04/04/2024
Under a new MoU, the FSS will be able to use Naver’s technologies to enhance its supervision, monitoring, and inspection activities.

Climate Risk
BCBS to Backtrack on Climate-related Standards – Report
04/04/2024
The BCBS plans to make its standards on disclosures and transition plans optional rather than universally adopted due to US pressure.

PEPs & Sanctions
Russia-China Business Facing Banking ‘Bottleneck’ – Report
04/04/2024
VTB, the only Russian bank with a fully-fledged branch in China, is dealing with high demand from companies seeking to open accounts to do business with Russia.

Alternative Markets
Korea’s First ATS Platform to Launch in Q1 2025 – Report
04/04/2024
Over 20 securities firms have declared their intention to participate in Nextrade’s new ATS market, which was given preliminary approval last July.

Market Abuse
Japan SESC Seeks Penalty for HFT Firm Quadeye
04/04/2024
The SESC said Quadeye used “fraudulent means” to engage in high speed trading in TSE-listed stocks.

Tokenisation
Thai SEC Tightens Requirements for Sustainability-related Digital Tokens
04/04/2024
Issues of sustainability-related digital tokens will have to make additional disclosures and engage external reviewers to assess whether sustainability standards are met.
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