Capital Adequacy

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.

Cryptocurrency

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.

Cryptocurrency

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.

Cryptocurrency

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.

Capital Adequacy

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.

Fraud, Scams & Cybercrime

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.

Sustainable Finance

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.

CBDCs

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.

Cloud & Infrastructure

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.