Cryptocurrency

Japan Scrutinises Crypto Exchanges, Industry Body to Release New Rules

21/06/2018

FSA to issue business improvement orders on registered crypto exchanges; self-regulatory industry association to release new voluntary rules on 27 June.

Cryptocurrency

Crypto ‘Poor Substitute’ for Conventional Money – BIS

21/06/2018

Lack of trust, poor efficiency and vast energy use are cited among other reasons for cryptocurrency’s limited potential to replace conventional money in the latest BIS annual report.

Market Risk

Hong Kong Targets September for OTC Derivatives Margin Rules

20/06/2018

SFC consultation proposes to phase-in IM requirements to avoid market disruption; VM to take effect on 1 September 2019.

Anti-Money Laundering

S. Korea FIU to Supervise Crypto Exchanges Like Banks

19/06/2018

Legislation introduced to bring cryptocurrency exchanges under the direct supervision of KoFIU, obligating them to adopt AML/CFT directives including systems to monitor for and report suspicious transactions.

Capital Adequacy

HKMA Imposes Enhanced Supervisory Arrangements on Indian Bank Branches

14/06/2018

Due to capital deficiencies, the Hong Kong branches of Allahabad Bank, Punjab National Bank and Indian Overseas Bank must hold HQLA equivalent to 100% of unpledged deposits and should not solicit customer deposits, among other measures.

Cybersecurity

HKMA Adds Two Additional Phases to Cyber Resilience Assessment

14/06/2018

Second phase to cover 60 authorised institutions with higher risk, third phase to cover about 90 remaining institutions; HKMA expressed concern about lack of qualified C-RAF assessors.

Market Abuse

China, Hong Kong to Deepen Cross-Boundary Market Surveillance

14/06/2018

Regulators discussed collaboration on market surveillance, intelligence sharing, coordinated investigations, and the establishment of a notification mechanism for cases involving dual listed shares and cross-boundary market misconduct.

Trading & Investment

Taiwan, S. Korea Launch ETF Cross Listings

13/06/2018

Cross listed ETFs track tech stocks traded in the two countries; following 2015 MoU that sought to expand cooperation between the TWSE and KRX.

Fraud, Scams & Cybercrime

Cryptocurrency Worth $1.1bn Stolen in H1 2018 – Report

12/06/2018

Theft facilitated by $6.7mn dark web marketplace for crypto-related malware; cryptocurrency exchange most vulnerable to attack.