Crypto / Digital Assets

Crypto Firm Celsius Network Accused of Running Ponzi Scheme

12/07/2022

A lawsuit filed by a former Celsius money manager says the company mismanaged customer funds, failed to perform basic internal auditing, and manipulated crypto-assets.

Capital / Liquidity

HKMA Issues Revised Capital Adequacy Ratio Return

12/07/2022

The changes are mainly to cater for banks’ reporting of equity investments in funds in accordance with the requirements that came into effect on 1 July.

AML / KYC

India Enables Rupee Settlement Mechanism for International Trades

12/07/2022

The mechanism allows international trades to be invoiced and settled using the rupee, enabling India to buy Russian oil without US sanctions exposure.

Market Infrastructure

CPMI Offers Global Framework for Interlinking Payment Systems

12/07/2022

The growing use of APIs and the adoption of ISO 20022 have opened up new possibilities for facilitating payment system interlinking, CPMI says.

Securities / Derivatives

FSC Korea to Strengthen Financial Consumer Protection Act

12/07/2022

The FSC intends to amend the Act to allow only exceptional cases of consumer solicitation, where consent is obtained from the customers in advance.

HKMA Issues Bank Guidance on Selling Protection Linked Plans

12/07/2022

Banks should discuss their plans for selling PLP with the HKMA and the details of pre-implementation reviews conducted by an independent party.

Securities / Derivatives

IOSCO Issues Op Resilience Guidance for Markets, Intermediaries

12/07/2022

IOSCO has set out observations and lessons learned from the pandemic response to help inform future operational resilience arrangements.

Crypto / Digital Assets

FSB Issues Statement on Crypto Assets Ahead of G20 Meeting

11/07/2022

The statement clarifies that so-called stablecoins and other crypto-assets “do not operate in a regulation-free space”.

Crypto / Digital Assets

Fed Vice Chair Calls for Swift Action on Crypto Regulation

11/07/2022

This is the right time to establish which crypto activities are permissible for regulated entities and under what constraints, Lael Brainard said.