Capital / Liquidity

Yellen Not Considering ‘Blanket Insurance’ for US Bank Deposits

23/03/2023

Regulators are reviewing banking risks on a case-by-case basis. The FDIC would only step in to protect all depositors if there are systemic or contagion risks.

ESG / Sustainability

Biden Blocks Anti-ESG Bill; Texas to Divest from HSBC

23/03/2023

HSBC was added to a list that will requires state governmental entities in Texas to divest from all of the bank’s publicly traded securities within 360 days.

Crypto / Digital Assets

Eurex to Launch Europe’s First Bitcoin Futures Contract

23/03/2023

The contract, developed in partnership with FTSE Russell and Digital Asset Research, will launch on 17 April 2023.

Securities / Derivatives

SFC Publishes “Quick Reference” Licensing Guides

23/03/2023

The quick reference guides are intended to encourage more family offices and private equity businesses to operate in Hong Kong.

Crypto / Digital Assets

US Authorities Consider Taxing NFTs as Collectibles

23/03/2023

Under the US tax code, collectibles are subject to a 28% capital gains tax rate, compared to 20% for stocks, bonds and cryptocurrencies.

ESG / Sustainability

Malaysia to Launch Sustainability Reporting Platform in April

23/03/2023

UMW Corp and Maybank will be early adopters of the platform, which was developed by Bursa Malaysia in collaboration with LSEG.

Enforcement

US SEC Simultaneously Charges Crypto Founder, Eight Celebrities

23/03/2023

Tron founder Justin Sun sold unregistered securities to US investors, manipulated TRX and BTT markets, and paid celebrities to tout the offerings without disclosing their compensation.

Sanctions

US, UK, EU and Australia Target Iran With New Sanctions

22/03/2023

The sanctions were imposed for human rights abuses and violations as well as the production and supply of drones to Russia.

Crypto / Digital Assets

Stablecoin Reserves Should be Held at Central Banks: Circle

22/03/2023

Circle is seeking to be able to hold USD reserves with the Fed rather than with various financial partners. In the long run, a wholesale CBDC could be used.