Crypto / Digital Assets

Korea Launches New Alerting System for Abnormal Crypto Activity

04/07/2023

DAXA said the alert messages will be triggered by sudden price changes and spikes in trading or deposit volumes, among other indicators.

Capital / Liquidity

China Holds $3tr in Unreported FX Reserves, says Former Treasury Official

04/07/2023

Former US Treasury official Brad Setser suggests China is concealing nearly half of its FX reserves within state-owned commercial and policy banks.

Capital / Liquidity

Chinese Banks Further Lower USD Deposit Rates to Halt Yuan Decline

04/07/2023

The big five state-owned banks have capped their dollar deposit rates at 2.8 percent, down from 4.3 percent previously, effective from 1 July.

Capital / Liquidity

Argentina Embraces Yuan Accounts to Tackle Dollar Shortage

04/07/2023

The central bank of Argentina stated that it has granted permission for local banks to accept yuan deposits.

AML / KYC

China Intensifies Efforts to Combat Tax Fraud

03/07/2023

The crackdown is focusing on major industrial and regional cases and professional criminal gangs.

Crypto / Digital Assets

Thai SEC Prohibits Crypto Lending, Deposit Taking Services

03/07/2023

Crypto firms will also have to disclose a warning about the risks associated with trading cryptocurrencies from 31 July 2023.

Lawrence Wong Appointed Chairman of MAS Board

03/07/2023

Lawrence Wong will replace Tharman Shanmugaratnam, who will step down to run in Singapore’s upcoming presidential election.

Securities / Derivatives

Korea Passes Bill to Strengthen Penalties for Unfair Trading

03/07/2023

The FSC will be able to impose a penalty surcharge of up to twice the amount of illegally earned profits. The enhanced penalties will take effect in January 2024.

Capital / Liquidity

PBOC Expands Lending Support Facilities to Boost SME, Agri Sectors

03/07/2023

The PBOC is expanding its relending and rediscounting facilities to incentivise commercial banks to issue loans to small businesses and the agricultural sector.