AML / KYC

NYDFS Issues Guidance Recommending Use of Blockchain Analytics

05/05/2022

The guidance emphasises the importance of blockchain analytics in conducting due diligence, transaction monitoring and sanctions screening.

US Fed Announces Biggest Rate Increase Since 2000

05/05/2022

The Federal Reserve has also outlined plans to shrink its USD 9 trillion balance sheet in phases, starting in June.

AML / KYC

European Commission Proposes Complete Ban on Russian Oil

05/05/2022

Three more Russian banks will be removed from SWIFT, three broadcasters will be blocked, and more military officers and individuals will be sanctioned.

Enforcement

US SEC Expands Enforcement Unit Dedicated to Crypto, Cyber

05/05/2022

The additional resources will be used to prioritise investigations related to crypto asset offerings, exchanges, lending and staking products, as well as DeFi platforms, NFTs and stablecoins.

Fintech / Regtech

FSC Korea Issues New Rules for Fractional Investing Services

05/05/2022

The FSC will classify fractional investment products as securities on a case-by-case basis and require issuing firms to adopt investor protection measures.

Market Infrastructure

RBA Calls on Major Banks to Enhance NPP Services

05/05/2022

The RBA is seeking assurances on the timely implementation of new NPP services, and asking banks to improve the reliability of the NPP services they already provide.

Capital / Liquidity

ISDA to Recognise China as Clean Netting Jurisdiction

04/05/2022

ISDA plans to publish a legal opinion recognising China as a jurisdiction in which close-out netting can be applied, paving the way for a more diversified onshore derivatives transactions.

APRA Scraps Expectations on Negative Rate Preparedness

04/05/2022

Banks asked for an extension on a 31 July 2022 deadline, citing market conditions and resource pressures due to other priorities.

Fintech / Regtech

S. Korea Set to Delay Capital Gains Tax for Crypto

04/05/2022

President-elect Yoon Seok-yeol is planning to defer the tax to 2025 to allow time for the enactment of a new set of regulations designed to protect consumers.