CRYPTO / DIGITAL ASSETS

Crypto / Digital Assets

BSP’s CBDC Testing to Continue in Sandbox Until 2024

By Editors | 19/01/2023

The BSP is testing large value CBDC transactions among a limited number of FIs. A retail  CBDC is not being explored.

Crypto / Digital Assets

Crypto Firms Team Up to Accelerate Climate Action

By Mark Johnston | 19/01/2023

The partnership comprises the GBBC, Eqo Networks, BxCi, Solana Foundation, Ripple, Regen Network, and Climate Collective.

Crypto / Digital Assets

Thailand: New Crypto Custody Regulations Take Effect

By Tung Li Lim | 19/01/2023

The regulations provide clarity on the IT controls custody providers must have in place to mitigate cyber risks in their management of crypto wallets and keys.

AML / KYC

HKMA Consults on Changes to AML/CFT Guideline for Banks

By Manesh Samtani | 19/01/2023

Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.

AML / KYC

Authorities Dismantle Russia-Linked Crypto Firm Bitzlato

By Manesh Samtani | 18/01/2023

Bitzlato facilitated $700mn in crypto transfers for Hydra users and received more than $15mn in ransomware proceeds.

Crypto / Digital Assets

2022: A Roaring Year for Digital Assets in Singapore

By Angela Ang | 18/01/2023

Angela Ang looks back at digital asset developments in 2022 in Singapore, and ahead to what to expect in 2023.

Crypto / Digital Assets

EU: MiCA Vote Delayed Again Until April 2023 – Report

By Editors | 18/01/2023

The delay is reported to be due to technical issues associated with translating the English text into the EU’s 24 official languages.

Crypto / Digital Assets

Chinese Securities Firm Switches on CBDC Payment Option

By Editors | 17/01/2023

China’s e-CNY system can also now capable handle offline payments, and “tap to pay” can function when devices are powered off.

Crypto / Digital Assets

Korea FSS to Develop Crypto Market Monitoring Tool

By Editors | 17/01/2023

At a forum on Monday, FSS governor Lee Bok-hyun also said accounting standards will be established to require companies to disclose their crypto exposures.