Crypto / Digital Assets

Crypto / Digital Assets

China: Hainan to Increased Scrutiny of ‘Digital Collectibles’ Industry

By Editors | 03/02/2023

Hainan authorities issued a notice highlighting the risks of fraud, money laundering, and illegal fund-raising in relation to digital collectibles, the term used for NFTs in China.

AML / KYC

UK Launches Consultation on Regulatory Framework for Crypto

By Manesh Samtani | 01/02/2023

The framework will require crypto exchanges to define token listing standards, strengthen rules for intermediaries and custodians, and introduce a crypto market abuse regime.

Crypto / Digital Assets

EIB Issues First GBP Digital Bond on Public Blockchain

By Editors | 01/02/2023

The issue marks the first ever digital bond denominated in GBP, as well as the first public issuance on Orion, HSBC’s new tokenisation platform.

Crypto / Digital Assets

Crypto Firm Celsius Operated as Ponzi Scheme, Report Says

By Editors | 01/02/2023

Celsius, now in bankruptcy, used customer funds to prop up the price of its own token for years, including to allow insiders to cash out.

Crypto / Digital Assets

US SEC Probes Investment Advisers Over Crypto Asset Custody

By Editors | 01/02/2023

The US regulator is inquiring into how investment advisers assess third-party custodians used to hold clients’ crypto assets.

Big Picture

Responsible Innovation in Financial Markets: Observations from the Trenches

By Manoj Ramia | 01/02/2023

Digital Asset’s Manoj Ramia says responsible financial innovation should be informed by reality, focus on solving real problems and stay within regulatory guardrails.

Crypto / Digital Assets

New York Regulator Investigating Crypto Firm Gemini

By Editors | 01/02/2023

Gemini emphasised connections to the FDIC when customers asked if their assets were safe. Almost $1bn in customer assets have since been frozen on the platform.

AML / KYC

HKMA Confirms Plans to Introduce Stablecoin Regulations

By Editors | 01/02/2023

Stablecoins must be fully backed, redemption at par must be available at all times, and issuers must be licenced. Algorithmic stablecoins will not be accepted.

Crypto / Digital Assets

Bank Indonesia Consults on Wholesale CBDC Development

By Editors | 31/01/2023

The consultation paper covers access, issuance, redemption, funds transfer, technical aspects and implications for the financial system.