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.

Fintech / Regtech

Korea to Start Charging for Use of Open Banking Platform

16/01/2023

The FSS will develop billing standards and retroactively calculate fees MyData service providers will have to pay in 2024 for their usage in 2023.

China to Fully Digitalise Bank Confirmation Letter Issuance

16/01/2023

Banks are directed to allow accounting firms to use digital platforms to request and receive confirmation letters for use in audits.

ESG / Sustainability

WWF-Singapore Publishes Sustainable Banking Assessment 2022

16/01/2023

The report calls on financial sector regulators to implement and align E&S risk management requirements for banks to ensure financial stability.

Securities / Derivatives

Schroders Wins Approval to Set Up Mutual Fund Unit in China

16/01/2023

The Schroders approval follows several other new approvals for foreign-owned mutual fund businesses, granted to Neuberger Berman, Fidelity International, and Manulife.

CBIRC Issues New Rules on Reporting Regulatory Statistics Data

15/01/2023

Banks and insurers are required to manage statistical reporting work centrally, from a dedicated department, and to establish data review, governance, and quality control mechanisms.

AML / KYC

Illicit Crypto Transactions Reached All-time High in 2022

15/01/2023

Chainalysis says 44 percent of 2022’s illicit transaction volume came from activity associated with sanctioned entities, including sanctioned crypto exchange Garantex.