Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Fintech / Regtech
Non-Resident Indians Allowed to Make UPI Transfers
17/01/2023
NPCI said NRIs in ten jurisdictions can use the UPI platform to digitally transfer funds, using their international mobile numbers.
Securities / Derivatives
India to Complete Transition to T+1 on 27 January
17/01/2023
All large-cap and blue-chip stocks will move to the shortened T+1 settlement cycle on 27 January. Market liquidity and trading volumes are expected to improve.
Securities / Derivatives
Shanghai Seeks to Add ‘Green Equities’ to Stock Connect
17/01/2023
The Shanghai regulator is also seeking to explore the possibility of adding bond targets to the Hong Kong Stock Connect.
Crypto / Digital Assets
Korea FSS to Develop Crypto Market Monitoring Tool
17/01/2023
At a forum on Monday, FSS governor Lee Bok-hyun also said accounting standards will be established to require companies to disclose their crypto exposures.
Crypto / Digital Assets
Iran, Russia Working on Gold-Backed Stablecoin – Report
17/01/2023
The stablecoin is intended to serve as a payment method for foreign trade without requiring the use of any fiat currency.
Enforcement
Taiwan Passes Law Changes to Deter Property Speculation
17/01/2023
The amendments introduce fines up to TWD 50 million for market manipulation and the spreading of false information regarding housing prices.
Market Infrastructure
China Directs Banks to Use Yuan in Cross-border Transactions
17/01/2023
Banks are directed to prioritise the use of the yuan in cross-border trade, as well as in overseas investment and financing transactions.
Crypto / Digital Assets
Nepal ISPs Ordered to Block Crypto Websites, Apps
17/01/2023
Nepal declared crypto illegal in September 2021. The order for ISPs and email providers to block crypto websites and apps is new.
Crypto / Digital Assets
BitConnect Victims Receive $17mn Restitution from Crypto Fraud
16/01/2023
BitConnect was an online crypto lending platform that collapsed in 2018, causing investor losses estimated at over USD 2.4 billion.
Enforcement
Indonesian Court Imposes $370m Fine for Stock Manipulation
16/01/2023
The fine is one of the largest ever in an Indonesian corruption case. Prosecutors reportedly plan to appeal the ruling to seek the death penalty.
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