Stablecoins

Facebook Sells Stablecoin IP and Tech Assets to Silvergate

07/02/2022

The sale was announced after it became clear from dialogue with federal regulators that “the project could not move ahead”.

Emerging Prudential Risks

Skills Gap a Key Bottleneck for Macao Financial Sector: IMF

02/02/2022

The IMF proposes a multi-prong approach to bridge the skills gap and support the development of modern financial services in Macao.

Resolution & Recovery

India: Unity Small Finance Bank Takes Over PMC Bank Branches

01/02/2022

Unity Small Finance Bank is offering immediate repayment of PMC Bank deposits up to INR 500,000, which makes whole 96 percent of depositors.

Credit Risk

Korea FSS Amends Rules to Facilitate Lending by Internet-only Banks

30/01/2022

Internet-only banks will be allowed to use a lower weight for existing household loans when calculating calculating loan-to-deposit ratios.

Anti-Money Laundering

Europol Outlines Different Ways Criminals Use Cryptocurrency

29/01/2022

A new Europol report highlights that the illicit use of crypto includes “all types of crime that require transfers of monetary value”.

Trading & Investment

KRX Chief Vows to Improve Investor Protection in Stock Market

28/01/2022

Sohn Byung-doo suggests lockup periods be imposed on executives following an IPO, and that companies be required to consider retail investors when processing spinoff IPOs.

Cryptocurrency

Myanmar to Ban Crypto Under New Cybersecurity Law

28/01/2022

Under the proposed law, using cryptocurrency may lead to imprisonment of 6-12 months in prison or fines up to USD 2800.

Reporting & Disclosures

EBA Finalises Pillar 3 Disclosure Rules for ESG Risks

28/01/2022

Once approved by the European Commission, EU banks will have to start making ESG disclosures in 2023, with full phase-in by June 2024.

Cloud & Infrastructure

China Launches Data Platform for Wealth Management Sector

27/01/2022

The platform is expected to help wealth management companies expand and enhance their product sales channels – especially the WMC units of smaller-scale banks.