Crypto / Digital Assets

Japan Considers Relaxation of Crypto Taxation Policies

30/08/2022

Authorities are considering a system under which crypto asset issuers would only be taxed when profits are generated, and not based on unrealised gains.

Crypto / Digital Assets

BOK Calls for Reversal of ICO Ban in Korea

30/08/2022

BOK says the ban has resulted in domestic companies turning overseas to issue new crypto assets, which are then listed on Korean crypto exchanges.

Capital / Liquidity

Financial Stability Institute Publishes Paper on LEX Standard

30/08/2022

The large exposures standard seeks to monitor and limit the loss an internationally active bank can face from a single client or a group of connected counterparties.

AML / KYC

Philippine Banks, Telecom Partner to Combat Cybercrime, Fraud

30/08/2022

BAP member banks and Globe Telecom will share data and intelligence to help counter cybercrime and fraud threats.

Enforcement

Korean Regulators Start Short-selling Inspections at Foreign Firms

30/08/2022

The FSS has launched an inspection of Morgan Stanley’s short-selling practices. Similar inspections at BAML and Goldman Sachs will come next.

Crypto / Digital Assets

UnionBank Becomes First Philippine Bank to Enable Crypto Trading

30/08/2022

UnionBank has also been exploring other uses of blockchain technology, as it seeks to future-proof its business and expand its metaverse footprint.

APRA Relaxes Phase 2 Timelines of Superannuation Data Project

29/08/2022

The overall consultation timeline for Phase 2 of the Superannuation Data Transformation project is being extended from 9 months to 14 months.

Market Infrastructure

New Zealand FMA Sets Out Priorities in New Corporate Plan

29/08/2022

The FMA will prioritise work on three new legislative regimes: financial advice licensing, climate-related disclosures, and conduct licensing.

Australia Proposes Reduced Barriers to Financial Advice Profession

29/08/2022

Treasury proposes to remove tertiary education requirements for experienced financial advisers, and simpler requirements for new entrants to the industry.