Payments & Settlements

BSP Proposes Enhance Guidelines for Electronic Fund Transfers

15/06/2023

In the event of unsuccessful transactions, financial institutions must return the amount to the sender within one hour.

Cryptocurrency

ESMA Sets Out Plans for Crypto Rule Consultations

15/06/2023

With MiCA now in force, ESMA said it would consult on a range of technical standards that will be published in three packages.

Structural Regulation

Canada Pauses Work With AIIB to Probe China’s Involvement

15/06/2023

Canada will halt activity with the AIIB, after an official alleged that the bank was dominated by the Chinese Communist Party.

KYC & CDD

US Lawmakers Introduce Bills to Increase FinCEN Accountability

15/06/2023

One of the bills will delay the effective date for the upcoming beneficial ownership information reporting requirements.

Clearing & Post-Trade

India Supervisory Regime for CCPs Gains UK Equivalence

15/06/2023

Indian CCPs have been facing the possibility of losing their ability to provide clearing services to UK market participants.

Emerging Prudential Risks

US Lawmaker Calls for Reversal of FSOC Plans for Nonbank FIs

14/06/2023

Patrick McHenry said the FSOC’s plans to designate non-bank financial entities as systemically important based on size rather than activities will be problematic.

Cryptocurrency

US Federal Judge Declines to Freeze Binance.US Assets

14/06/2023

The federal judge overseeing the case ordered the SEC and Binance.US to negotiate other restrictions instead.

Cryptocurrency

MAS Grants Crypto Bank Sygnum In-Principle Licence Approval

14/06/2023

Sygnum said it would expand its Singapore offering to include regulated crypto brokerage services, available to accredited and institutional investors.

Payments & Settlements

India, Myanmar to Start Using Rupee for Trade Settlements “Soon”

13/06/2023

The RBI has so far authorised Punjab National Bank to open a special rupee vostro account for foreign trade settlements with Myanmar.