Crypto / Digital Assets

FSB Updates G20 on Covid-19, Climate, Crypto Work

13/07/2022

Accompanying the letter to the G20 is a report on exit strategies to address COVID-19 scarring in the financial sector, and a statement on crypto-asset regulation.

Enforcement

China Imposes Antitrust Fines Against Tencent, Alibaba, Others

12/07/2022

Tencent was fined CNY 6 million for its involvement in 12 transactions on a list of deals that were not properly reported.

Enforcement

Korea FSS Bolsters Ability to Confront FIs in Court

12/07/2022

The FSS will be able to engage competent law firms with greater ease, and in some cases share legal costs with the FSC.

Fintech / Regtech

Cambodia Establishes Common National Standard for QR Payments

12/07/2022

NBC intends to use the new KHQR system to facilitate cross-border payments within the region in future.

Securities / Derivatives

Australia to Explore Unintended Impacts of Super Reforms

12/07/2022

In light of the upcoming review, the government will pause a planned extension of APRA’s performance tests beyond MySuper products for 12 months.

Crypto / Digital Assets

New Report Offers Guidance to Central Banks on CBDC Design

12/07/2022

A report from CPMI, BISIH, IMF and World Bank assesses the options for access to and interoperability of CBDCs, to ensure they improve cross-border payments.

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.