Capital / Liquidity

BCBS Reports Basel Adoption Progress Despite Covid Disruptions

17/10/2021

All jurisdictions now have final rules in force for the CCyB, following implementation in China. Three more jurisdictions have adopted the final TLAC rules.

Crypto / Digital Assets

Sri Lanka to Develop Regulatory Framework for Cryptocurrency

15/10/2021

The committee will advise Sri Lanka’s cabinet on a regulatory framework for Sri Lanka for blockchain, digital banking and crypto mining.

Crypto / Digital Assets

S. Korean Legislators Seek to Delay Cryptocurrency Taxation

14/10/2021

Lawmakers are proposing to delay plans to tax cryptocurrency gains by one year to 2023, and to impose a more generous tax framework.

Crypto / Digital Assets

China Names Crypto Mining as Prohibited Activity on ‘Negative List’

14/10/2021

China’s latest ‘negative list’ removes six industries, while introducing new restrictions for the media, finance and cryptocurrency sectors.

Fintech / Regtech

BSP Migrates to API-Based Regulatory Reporting

14/10/2021

Banks have six months to enable capabilities to generate XML reports and ensure appropriate personnel is in place.

Enforcement

Hong Kong Police Arrest 32 Over PLGS Loan Fraud

13/10/2021

A syndicate with triad links allegedly use cold calls and posed as bank staff to lure victims into the illicit scheme promising government-guaranteed low-interest loans.

ESG / Sustainability

Japan to Start Investing Foreign Reserves in ESG Bonds

12/10/2021

Japan would become the first G7 government to use its foreign reserves for ESG investments, as it ramps up efforts to combat climate change.

Fintech / Regtech

Laos Central Bank to Explore CBDC Issuance

11/10/2021

To help explore the feasibility of a CBDC, the Bank of the Lao PDR has enlisted Japanese fintech Soramitsu, which also help developed Bakong in Cambodia.

Fintech / Regtech

S. Korea to Tighten Rules for Bigtechs in Financial Services

11/10/2021

FSS governor Jeong Eun-bo said regulators will seek to enable fair competition between digital platform providers and financial companies.