CRYPTO / DIGITAL ASSETS

Crypto / Digital Assets

30 Firms to Launch “Network of Networks” for Digital Assets

By Editors | 11/05/2023

The Canton Network will provide a decentralised infrastructure that connects independent applications like Deutsche Börse’s D7 post-trade platform and Goldman’s GS DAP.

Crypto / Digital Assets

Ex-Coinbase Employee Sentenced to Jail for Insider Trading

By Editors | 11/05/2023

The former Coinbase product manager was sentenced to two years in prison for feeding his brother and a friend information about upcoming crypto listings.

Crypto / Digital Assets

Bankrupt FTX Affiliate Alameda Research Hit with $44b Tax Bill

By Mark Johnston | 10/05/2023

In bankruptcy proceedings, the IRS claims would take precedence over those of unsecured creditors, including FTX’s one million users.

Crypto / Digital Assets

MAS Proposes Amendments to Payment Services Regulations

By Editors | 09/05/2023

The consultation covers amendments to Payment Services Regulations and existing notices to include newly scoped-in payment services like DPT services.

Crypto / Digital Assets

BNP Paribas to Start Providing e-CNY Services in China

By Editors | 09/05/2023

BNP Paribas will partner with Bank of China to launch an e-CNY services for corporate clients and explore the CBDC’s use in supply chain finance and other areas.

Crypto / Digital Assets

US SEC Ordered to Respond to Coinbase Petition Within 10 Days

By Editors | 08/05/2023

The SEC must indicate whether or not it will provide formal rule-making for the digital assets sector, and the reasons for its decision.

Crypto / Digital Assets

New Bill Unveiled to Strengthen Crypto Regulation in New York

By Manesh Samtani | 08/05/2023

The CRPTO Act would ban the use of the term “stablecoin”  except for digital assets backed 1:1 with the safest of reserve assets. Crypto platforms would have to reimburse fraud losses.

Capital / Liquidity

Hong Kong Financial System Remains Resilient: IMF Staff

By Editors | 07/05/2023

IMF staff said credit risk will “likely continue to materialise”, and banks should properly recognise and provision for credit losses, including those from Mainland property exposures.

Enforcement

NYDFS Fines BitFlyer for Deficient Cybersecurity Programme

By Editors | 07/05/2023

BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.