Crypto / Digital Assets

Seoul Police Raid Crypto Exchange Bithumb Over Fraud Allegations

03/09/2020

Police reportedly raided South Korea’s largest crypto exchange and confiscated data in connection with a fraud investigation involving the pre-sale of BXA tokens to investors.

APRA Consults on Changes to EFS Reporting Standards

25/08/2020

The consultation is open for comment until 25 September. The changes are proposed to be effective for the reporting period ending June 2021.

Fintech / Regtech

Digital Yuan Testing Limited to Small Transactions Only, PBOC Clarifies

25/08/2020

China is currently testing its sovereign digital currency with four state-run commercial banks in Shenzhen, Suzhou, Xiongan and Chengdu.

Securities / Derivatives

Australia Transitions to New Regulatory Regime for Litigation Funders

24/08/2020

Litigation funders will have three months of transition relief before they have to mandatorily hold an AFS licence and comply with rules for managed investment schemes.

Capital / Liquidity

BOT to Launch Debt Restructuring Programme for Businesses

24/08/2020

The new programme is designed to help businesses to restructure debt owed to multiple creditors. A similar programme for household borrowers already exists.

Crypto / Digital Assets

Malaysia, Indonesia Regulators Sign Fintech Cooperation Pact

24/08/2020

The agreement aims to facilitate information sharing, provide joint innovation opportunities, and facilitate cross-border referrals of fintech businesses.

Enforcement

ASIC Takes Former ANZ Unit to Court Over Cybersecurity Failures

24/08/2020

ASIC is seeking orders requiring RI Advice Group to pay a civil penalty and ensure it implements systems to adequately manage cyber risk.

Fintech / Regtech

BSP Takes Consumer Complaints Chatbot Live

20/08/2020

The trilingual automated chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.

Enforcement

ASIC Launches Civil Proceedings in Two Fees-for-no-service Cases

20/08/2020

ASIC has commenced ‘fees for no service’ cases against Asgard Capital Management, BT Funds Management, and StatePlus Super.