CRYPTO / DIGITAL ASSETS

Crypto / Digital Assets

Visa Reveals Plans to Allow Direct Settlement Using USDC

By Sam Chen | 10/02/2023

Visa has tested the feasibility of accepting large value settlement payments in USDC, using the same process as for foreign currency transactions.

Crypto / Digital Assets

Laos Launches CBDC Proof of Concept with Soramitsu

By Editors | 10/02/2023

The PoC aims to assess how a CBDC can promote financial inclusion, improve cross-border remittances, and modernise Laotian payment systems.

Crypto / Digital Assets

Dubai’s VARA Releases Comprehensive Virtual Asset Framework

By Mark Johnston | 10/02/2023

The regulations aim to provide clarity and certainty and reduce market risks. VASPs must now register to offer virtual asset services in Dubai.

AML / KYC

Japan FSA Issues Draft Rules for Travel Rule Implementation

By Editors | 10/02/2023

The rules will implement laws passed in Japan last year, establishing requirements for Japanese crypto firms to comply with the travel rule.

Crypto / Digital Assets

US SEC Fines Kraken, Forced Shutter of Crypto Staking Programme

By Editors | 10/02/2023

Commissioner Hester Peirce disagreed with the action, saying there isn’t sufficient guidance on the SEC’s regulatory approach to staking programmes.

Crypto / Digital Assets

US SEC Close to Settling Probe Against Crypto Firm Kraken

By Editors | 09/02/2023

Commissioner Hester Peirce says the SEC “has not done a good job” in providing regulatory clarity on crypto.

Crypto / Digital Assets

UK Unveils Roadmap to Potential Digital Pound Issuance

By Manesh Samtani | 08/02/2023

If issued, the digital pound would be subject to strict privacy standards. It would be intended for payments, non-interest-bearing, and subject to an initial cap on holdings.

Crypto / Digital Assets

BIS Innovation Hub to Develop Stablecoin Monitoring Tools

By Editors | 08/02/2023

Project Pyxtrial will investigate technological tools that can enable systemic monitoring of stablecoins and their balance sheets.

Crypto / Digital Assets

UK FCA Directs Crypto Firms to Prepare for New Ad Rules

By Editors | 08/02/2023

Breaches of the rules can result in takedowns of websites, public warnings, and other actions, including up to two years in prison.