Crypto / Digital Assets

Canvas Completes First FX Transaction Using Australian CBDC

18/05/2023

The eAUD was traded for foreign currency stablecoin USDC, representing the first foreign exchange transaction using the RBA’s pilot CBDC.

Thailand Considers Using Local Currency Settlement for China Trade

18/05/2023

Bank of Thailand has been studying the barriers to yuan-baht payments and plans to reduce these barriers this year.

Securities / Derivatives

Shanghai Bourse to Launch Options on STAR Market ETF

17/05/2023

The options will be linked to an ETF that tracks the biggest 50 stocks on the STAR Market. The options are expected to launch within weeks.

AML / KYC

EU Council Formally Adopts New Legal Framework for Crypto

17/05/2023

New rules under MiCA cover issuers of utility tokens, asset referenced tokens, stablecoins, service providers such as trading venues, and wallets where crypto-assets are held.

ESG / Sustainability

Philippine SEC Adopts ASEAN SRF Standards

14/05/2023

Rules are established to enable local and ASEAN-member investment companies and CIS operators to offer sustainable and responsible funds locally and across the region.

FSB Assessing Role of Social Media in Bank Failures

11/05/2023

Head of financial stability analysis Costas Stephanou said the FSB plans to issue a detailed report on its findings later in 2023 or next year.

AML / KYC

India Brings Company Formation Agents into Scope of AML Law

11/05/2023

Persons who act as formation agents, directors, trustees and nominee shareholders for companies and LLPs are brought into scope.

Capital / Liquidity

MAS Considers Possible Changes to Deposit Insurance Scheme

10/05/2023

MAS will issue a consultation by the end of June on proposals to ensure Singapore’s deposit insurance scheme remains fit for purpose.

FSC Korea to Lower Regulatory Burden for Firms Seeking M&A

09/05/2023

The FSC will ease requirements on potential buyers to prove their financial capacity and set up facilities to help finance M&A activity.