Sanctions

Korea Unfreezes Iranian Funds as Part of US Prison Swap Deal

14/08/2023

$7bn of Iran’s funds have been frozen in South Korea since May 2019, after sanctions waivers for oil imports were allowed to expire.

Crypto / Digital Assets

SFC Grants ‘Approval In-Principle’ to HKVAX for Virtual Asset Trading

14/08/2023

Hong Kong’s SFC grants “in-principle” approval to HKVAX, the first given since the VATP licences granted to HashKey and OSL earlier this month.

Securities / Derivatives

BSP Issues New Rules for UITFs on the Use of Benchmarks

14/08/2023

The BSP specifies a one-year transition period to allow unit investment trust funds to review their benchmarks and make changes where needed.

AML / KYC

SEBI Tightens Disclosure Requirements for FPIs

14/08/2023

FPIs are required to provide information on persons with ownership, economic interest or control in an FPI.

Crypto / Digital Assets

Bank of Canada Discusses Potential Challenges of CBDC Adoption

14/08/2023

Consumers with unmet payment needs could only benefit from a CBDC if it is adopted widely by other consumers and merchants.

Enforcement

SFC, CSRC Agree to Allow Block Trading on Stock Connect

14/08/2023

Block trading will enhance price discovery and encourage more overseas investors to participate in the A-share market through Stock Connect, said the SFC’s Julia Leung.

Crypto / Digital Assets

US Judge Revokes Bankman-Fried Bail for Witness Tampering

13/08/2023

Sam Bankman-Fried gave documents to journalists and tried to interfere with witnesses. He was taken to jail on Friday.

Fintech / Regtech

RBI Announces Planned Upgrades to UPI System

13/08/2023

One new feature will enable users to initiate UPI transactions by conversing with an AI-powered system. Japan is exploring a potential UPI linkage.

AML / KYC

RUSI Publishes Virtual Assets Risk Assessment Guide

12/08/2023

The guide offers a ‘virtual assets risk assessment framework’, as well as risk mitigation strategies and best practices.