Crypto / Digital Assets

AML / KYC

HKMA Offers Guidance on VASP Account Opening

By Manesh Samtani | 28/04/2023

Deputy chief Arthur Yuen said the HKMA expects regulated VASPs to be able to open a bank account in Hong Kong through a reasonable process.

Crypto / Digital Assets

China to Start Using CBDC in Cross-Border Trade

By Sanday Chongo Kabange | 28/04/2023

Xuzhou will use the e-CNY for payment of Belt and Road trade costs; Changshu City will use it to pay civil servants.

Crypto / Digital Assets

Korea’s New Crypto Bill Passes Key Legislative Subcommittee

By Philip Gant | 28/04/2023

The “Virtual Asset User Protection Bill” consolidates and reconciles 19 legislative proposals introduced over the two years since May 2021.

Enforcement

Terra Co-Founder Daniel Shin Indicted in Korea

By Editors | 27/04/2023

Daniel Shin and nine others were indicted for their roles in the collapse of the Terra stablecoin which caused significant losses for investors.

Crypto / Digital Assets

US Lawmakers Propose Another Draft Bill for Stablecoins

By Editors | 26/04/2023

New bill provides a narrower focus overall and gives state regulators more power to charter stablecoin issuers.

Capital / Liquidity

New York Fed Tightens Rules on Access to Reverse Repo Facility

By Editors | 26/04/2023

The tighter requirements are said to be aimed at preventing stablecoin issuers from parking their reserves at the Fed.

Crypto / Digital Assets

Binance.US Cancels Deal to Acquire Voyager Digital

By Editors | 26/04/2023

The DOJ indicated earlier this week that it was prepared to allow the deal to proceed. Binance.US had the right to cancel if the deal was not closed by 18 April.

Crypto / Digital Assets

Coinbase Asks US Court to Compel SEC to Provide Regulatory Clarity

By Editors | 26/04/2023

Coinbase is asking the court to compel the SEC to a respond to petition filed last year, which asked the regulator to propose and adopt rules for the digital assets sector.

Fintech / Regtech

HKMA, PBOC Explore Use of CBDC for Cross-border Payments

By Editors | 26/04/2023

HKMA deputy chief Darryl Chan said there is scope to expand the Wealth Management Connect scheme and use CDI data for cross-border finance.