AML / KYC

Report Warns of Elevated Digital Attacks Rate Throughout 2023

21/05/2023

LexisNexis Risk Solutions published a new report showing a 50 percent year-on-year increase in APAC’s payment attack rate.

Fintech / Regtech

FSC Korea Vows to “Actively” Support AI-based Financial Services

19/05/2023

FSC chairman Kim Joo-hyun asked FIs to actively invest in and use AI to strengthen the global competitiveness of Korea’s financial industry.

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.