CRYPTO / DIGITAL ASSETS

Crypto / Digital Assets

MAS to Require Trust Holding of DPT Customers’ Assets

By Jill Wong | 04/07/2023

MAS says the move is aimed at preventing the loss of customers’ assets and to facilitate a recovery in the event of a DPT provider’s insolvency.

Crypto / Digital Assets

Hong Kong Establishes Task Force to Advance Web3 Development

By Sanday Chongo Kabange | 03/07/2023

The task force will bring together industry leaders and regulators to provide advice on developing Hong Kong into a Web3 hub.

Crypto / Digital Assets

Thai SEC Prohibits Crypto Lending, Deposit Taking Services

By Editors | 03/07/2023

Crypto firms will also have to disclose a warning about the risks associated with trading cryptocurrencies from 31 July 2023.

Crypto / Digital Assets

Korean Authorities Probes Crypto Lender Delio Over Fraud Allegations

By Sanday Chongo Kabange | 03/07/2023

Regulators are investigating Delio on suspicions that it engaged in fraudulent activities, embezzlement and breach of trust.

Crypto / Digital Assets

RBNZ to Develop Monitoring Capabilities for Crypto Markets

By Sanday Chongo Kabange | 02/07/2023

The RBNZ is not planning to introduce a regulatory framework for cryptoassets until global best practice becomes clearer.

Crypto / Digital Assets

South Korea Passes Virtual Asset User Protection Bill

By Editors | 02/07/2023

The bill focuses on protecting virtual asset users and preventing unfair trading practices. The new framework will be implemented within one year.

Enforcement

UK: Financial Services and Markets Act Receives Royal Assent

By Editors | 29/06/2023

The Act sets a path to reform Solvency II, gives the FCA regulatory powers over crypto, and provides stronger protections for victims of APP fraud.

Crypto / Digital Assets

EU Commission Issues Legislative Proposal to Introduce CBDC

By Editors | 29/06/2023

The ECB will decide whether to move to the next phase of the project after its investigation phase is concluded in October.

Crypto / Digital Assets

BIS Releases Interim Report on Project Mariana

By Editors | 29/06/2023

Project Mariana is studying the use of DeFi automated market makers and wholesale CBDC for cross-border foreign exchange transactions.