CRYPTO / DIGITAL ASSETS

AML / KYC

UK FCA Offers Guidance on Crypto Business Registration

By Editors | 26/01/2023

The guidance draws from over 300 applications received by the FCA to date, to help crypto firms prepare their applications for registration.

Big Picture

Tokenisation Can Threaten Financial System Stability: Denis Beau

By Mark Johnston | 25/01/2023

Banque de France official says tokenisation increases operational risks, especially cyber risks, and needs to be regulated “as swiftly as possible”.

Crypto / Digital Assets

NYDFS Issues Guidance on Crypto Custody and Related Disclosures

By Editors | 25/01/2023

The guidance emphasises the “paramount importance of equitable and beneficial interest always remaining with the customer”.

Crypto / Digital Assets

Action Against Crypto Firm Bitzlato Yields Seizures, More Arrests

By Editors | 25/01/2023

Authorities seized EUR 18 million in crypto wallets and froze EUR 50 million in accounts at other crypto exchanges, Europol says.

Crypto / Digital Assets

BISIH London Invites Firms to Test Retail CBDC API Platform

By Editors | 25/01/2023

Project Rosalind’s phase one work will be complete within Q1 and be followed by a further phase focused on testing and validating API functionality.

Capital / Liquidity

EU Lawmakers Back Draft Law to Implement Basel III

By Editors | 25/01/2023

The draft law contains an interim treatment for banks to apply a 1250% risk weight to their cryptoasset exposures until 31 December 2024.

Crypto / Digital Assets

FTX Explores Possible Revival of Global Crypto Business

By Sanday Chongo Kabange | 25/01/2023

FTX’s replacement CEO believes reviving the business could recover more value for customers than a liquidation of assets or sale of the platform.

Crypto / Digital Assets

Korea to Improve Market Access for Foreign Investors, Allow STOs

By Editors | 25/01/2023

Korea will abolish the complex registration system for foreign investors, require English disclosures from listed companies, and establish a regulatory framework for security tokens.

Fintech / Regtech

BIS Paper Offers Technical Model for Assessing DeFi Risks

By Editors | 24/01/2023

The paper highlights the intertwined nature of DeFi protocols, the dependencies they can have on stablecoins, and how such dependencies can present vulnerabilities.