Manesh Samtani
Manesh manages the news desk and serves as an editor at Regulation Asia. He covers regulatory changes across Asia Pacific that impact banking, capital markets, asset management, and financial services more generally. Manesh is a former trader and investment consultant with a degree in Finance and Banking. manesh@regulationasia.com
Articles by Manesh Samtani
AML / KYC
US SEC Fines Crypto Firm Nexo for Unregistered Securities Offering
20/01/2023
Nexo settled charges from US regulators for $45mn. The company was separately raided by Bulgarian authorities last week.
Crypto / Digital Assets
NAB to Launch AUD Stablecoin Around Mid Year
20/01/2023
NAB plans allow clients to use the stablecoin for repo transactions, cross-border remittances, and carbon credits trading.
AML / KYC
HKMA Consults on Changes to AML/CFT Guideline for Banks
19/01/2023
Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.
AML / KYC
Authorities Dismantle Russia-Linked Crypto Firm Bitzlato
18/01/2023
Bitzlato facilitated $700mn in crypto transfers for Hydra users and received more than $15mn in ransomware proceeds.
Enforcement
China Further Signals End to Tech Sector Crackdown
18/01/2023
Didi passed its security review and is allowed to resume onboarding new customers. Government entities are acquiring “golden shares” in some tech giants.
Capital / Liquidity
RBI Proposes to Adopt ECL Approach for Loan Provisioning
17/01/2023
Indian banks currently still use the incurred loss model, which the RBI says delays NPA identification, loan reclassification, and provisioning.
Enforcement
Thailand: SEC’s Latest Tool to Protect Crypto Investors: Free E-Learning
16/01/2023
The ‘Crypto Academy’ is one of several measures the SEC has taken to protect crypto investors since local exchange Zipmex halted customer withdrawals in July 2022.
Crypto / Digital Assets
Samsung Asset Management Lists Hong Kong’s Third Crypto ETF
16/01/2023
The ETF traded 92,550 units on its first day, compared to 1,435,800 units traded between CSOP’s two ETFs on their first day last month.
ESG / Sustainability
Korea Issues Guidelines to Improve Transparency of ESG Bond Ratings
16/01/2023
The guidelines reflect IOSCO’s recommendations and will be implemented as KOFIA best practice from 1 February 2023.
Crypto / Digital Assets
CFTC Takes First Action Involving Decentralised Crypto Exchange
12/01/2023
The CFTC filed fraud and swap manipulation charges against a hacker, saying the Commodity Exchange Act applies to decentralised blockchain-based trading platforms.
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