CBDCs

Swift Concludes 12 Weeks of Tests on CBDC Interlinking Solution

10/03/2023

Nine banks and three central banks participated in testing Swift’s API-based CBDC connector across two blockchain networks and fiat-based payment systems.

Anti-Money Laundering

SFC Fines City International Futures for AML Compliance Failures

10/03/2023

City International Futures is the 6th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

AI Risk & Governance

IOSCO to Develop Capacity Building Tool for Emerging Markets

09/03/2023

The so-called “MASI” tool will assist in self-assessments against the IOSCO core principles and facilitate comparisons against more developed regulatory frameworks.

Anti-Money Laundering

HK Issues Record Fine Against Unlicensed Money Service Business

09/03/2023

A Hong Kong money changer and two directors were fined for operating a money service business before their licence application was approved.

Resolution & Recovery

Crypto Focused Bank Silvergate to Enter Into Liquidation

09/03/2023

Silvergate has served as one of the main banks for crypto companies. The wind down and liquidation plan includes full repayment of all deposits.

Cryptocurrency

NYAG Files Lawsuit Against Crypto Platform KuCoin

09/03/2023

In a first by a US authority, the lawsuit claims that Ether is a security, meaning KuCoin was required to register as a securities broker or dealer.

Trading & Investment

ASIC Issues Stop Orders Against Interactive Brokers’ Securities Lending Product

09/03/2023

ASIC says Interactive Brokers inappropriately included investors in the target market that didn’t align with the features and risks of the product.

Anti-Money Laundering

Korea Customs: Crypto Involved in 70pc of Illicit Fund Flows in 2022

09/03/2023

The illicit crypto transactions were mostly aimed at purchasing foreign virtual assets with the intention of exploiting the so-called “Kimchi premium”.

Reporting & Disclosures

Bursa Malaysia, LSEG to Launch Sustainability Reporting Platform

09/03/2023

At Invest Malaysia 2023, funding incentives for the Bursa Carbon Exchange were also announced, along with other initiatives to increase the vibrancy of the Malaysian capital market.