Crypto / Digital Assets

AML / KYC

IDAXA to Develop Global AML Standards for Crypto Industry

By Editors | 20/12/2022

IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.

Crypto / Digital Assets

NYDFS Issues Guidance on Crypto-Related Activities for Banks

By Sanday Chongo Kabange | 19/12/2022

New York regulated banks, as well as branches and agencies of foreign banks licensed by the NYDFS, need prior approval to engage in virtual currency-related activities.

Crypto / Digital Assets

US Lawmakers Introduce AML/CFT Bill for Crypto Firms

By Mark Johnston | 19/12/2022

The bill would categorise all crypto firms as money transfer businesses, requiring them to implement AML programmes and prohibiting the use of crypto mixers.

Capital / Liquidity

Basel Rules for Cryptoassets to Take Effect in Jan 2025

By Manesh Samtani | 19/12/2022

1,250% risk weight not applicable to custodied assets. Infrastructure risk add-on no longer mandatory. Gross limit on total Group 2 exposures raised from 1% to 2%.

Crypto / Digital Assets

BOK Seeks Legal Authority to Regulate Stablecoins

By Editors | 17/12/2022

BOK says stablecoins pegged to foreign currencies should be subject to foreign exchange laws, while those pegged to the Korean won should fall under the central bank’s regulatory remit.

Crypto / Digital Assets

Ant Group Embeds e-CNY Processing in Alipay Digital Wallet

By Editors | 17/12/2022

The integration of third party payments platforms is expected to boost e-CNY adoption while preventing the displacement of existing players in China’s payments sector.

Crypto / Digital Assets

Australia Seeks Input on Strategic Plan for Payments System

By Manesh Samtani | 15/12/2022

The government will also empower the RBA to regulate digital wallet providers and improve the regulatory framework for crypto service providers.

Crypto / Digital Assets

Hong Kong to List First Crypto Futures ETFs on 16 Dec

By Editors | 15/12/2022

The ETFs are being launched by CSOP Asset Management, one linked to Bitcoin futures and the other to Ether futures traded on the CME.

Fintech / Regtech

HashKey, ZA International to Cooperate on Digital Assets

By Editors | 14/12/2022

The two groups will cooperate on digital assets, Web3 and DLT. ZA International recently unveiled plans to tokenise its ZA Coin.