CRYPTO / DIGITAL ASSETS

Crypto / Digital Assets

FSC Korea Proposes Rules to Protect Virtual Asset Users

By Manesh Samtani | 12/12/2023

VASPs must store at least 80% of customers’ virtual assets in cold wallets, purchase liability insurance, hold reserves, and monitor for abnormal transactions.

Enforcement

Binance’s CZ Zhao Now Required to Remain in US Until Sentencing

By Editors | 11/12/2023

Initially, a magistrate judge appeared to be allowing Zhao to leave the US until his sentencing hearing in February. A district court judge has reversed this ruling.

Market Infrastructure

RBI in Talks With HK, US on Cross-border CBDC Payments

By Ajoy K Das | 08/12/2023

The RBI has set up a working group to create a roadmap for settling international remittances using CBDCs.

Crypto / Digital Assets

Taiwan Considers Platform Design for Possible Future CBDC

By Editors | 08/12/2023

Taiwan’s central bank has completed a wholesale CBDC feasibility and technology study but has not yet decided whether to introduce a CBDC.

Capital / Liquidity

BCBS Says it Will Launch Three New Consultations

By Manesh Samtani | 08/12/2023

The consultations will deal with the standards for crypto assets, interest rate risk in the banking book, and window-dressing by G-SIBs.

Crypto / Digital Assets

Singapore, China Announce New Bilateral Cooperation Agreements

By Manesh Samtani | 08/12/2023

The agreements include a cross-border e-CNY pilot, a possible PayNow-UnionPay linkage, and an MoU between SGX and GFEX.

Crypto / Digital Assets

Solomon Islands Central Bank Starts Testing CBDC

By Editors | 08/12/2023

The central bank is testing the CBDC for retail transactions, P2P transfers, interbank transactions, and cross-border payments.

Crypto / Digital Assets

Japan Prepares to Relax Crypto Taxation Policies

By Editors | 08/12/2023

The reforms will allow corporations to hold crypto assets without being taxed on unrealised gains at the end of each year.

Crypto / Digital Assets

US Authorities Secure Guilty Plea from Crypto Founder

By Editors | 07/12/2023

Anatoly Legkodymov pleaded guilty to operating Hong Kong-registered Bitzlato as a money transmitting business that allowed criminals to launder illicit proceeds.