Enforcement

Fed, OFAC Penalise Wells Fargo for Sanctions Non-Compliance

02/04/2023

Wells Fargo’s predecessor, Wachovia, provided software that was used by a foreign bank to process USD 532 million in prohibited transactions.

Crypto / Digital Assets

BIS Innovation Hub to Launch Cryptoasset Data Project

02/04/2023

Project Atlas will allow users to visualise cross-border flows in cryptoasset and DeFi markets via publicly available dashboards.

Crypto / Digital Assets

Japan to Create Expert Panel on CBDCs Within April

02/04/2023

The launch of the panel will coincide with the start of a digital yen pilot programme involving the BOJ and private sector participants.

Market Infrastructure

ASEAN to Reduce Reliance on Major Currencies to Safeguard Stability

02/04/2023

ASEAN finance ministers and central bank governors agreed to increase usage of local currencies for trade settlements.

Enforcement

US Court Dismisses Archegos-related Lawsuit Against Banks

01/04/2023

The judge ruled that Goldman Sachs and Morgan Stanley were not liable to investors for selling stocks they knew Archegos would be forced to sell.

Crypto / Digital Assets

Mirae Asset, SK Telecom to Collaborate on Security Token Business

01/04/2023

Mirae Asset Securities and SK Telecom formed a consortium to collaborate on creating a business ecosystem for security tokens.

AML / KYC

Taiwan to Unveil New Anti-Fraud Measures Within One Month

01/04/2023

The Taiwan government has reportedly been seeking assistance from companies including Google and Meta to help combat online fraud.

Market Infrastructure

Singapore, Malaysia Launch Cross-border QR Payments Link

31/03/2023

The payment linkage will allow customers of participating financial institutions to make retail payments by scanning NETS QR and DuitNow QR codes.

CBIRC Issues New Branch Operation Rules for Trust Companies

31/03/2023

Trust companies can set up remote branches based on their needs, but management headquarters must be in their registered domicile.