Crypto / Digital Assets

Crypto / Digital Assets

MAS to Introduce More Comprehensive Rules for Crypto Sector

By Manesh Samtani | 19/07/2022

MAS will share its strategy for developing Singapore as a digital asset hub in August. New rules for crypto will be proposed in September or October.

Crypto / Digital Assets

BOK to Commence CDBC Testing with Ten Commercial Banks

By Sanday Chongo Kabange | 18/07/2022

The ten banks including Shinhan Bank and NH Nonghyup Bank will test CBDC remittances and payments between individual users.

AML / KYC

How North Korean Cryptocurrency Abuse Is Expanding

By Sasha Erskine | 18/07/2022

Countries must secure new and emerging gateways that are used to circumvent sanctions, as North Korea’s exploitation of cryptocurrency continues.

Capital / Liquidity

BCBS Treatment of Banks’ Crypto Exposures Still Constraining: ISDA

By Manesh Samtani | 18/07/2022

ISDA chief executive Scott O’Malia says the new group 2 exposure limit presents a “significant constraint” on the extent to which banks can participate.

Crypto / Digital Assets

UK Commences Inquiry Into Crypto Asset Risks and Opportunities

By Editors | 17/07/2022

A UK parliamentary committee is collecting evidence on the opportunities and risks that crypto-assets may bring to consumers, businesses and the government.

Crypto / Digital Assets

US Treasury Consults on Digital Asset Risks and Opportunities

By Editors | 17/07/2022

The request for comment seeks input on the opportunities and risks digital assets may pose to consumers, investors, businesses, and financial markets.

Crypto / Digital Assets

Thailand Refines Rules for Crypto Firms, Issues Draft Rules for Banks

By Manesh Samtani | 15/07/2022

The SEC amended capital requirements and other rules for crypto firms. The BOT issued draft rules for banks dealing in crypto. Two crypto exchanges were penalised.

Crypto / Digital Assets

OECD Confirms Timeline Revision for New Global Tax Rules

By Editors | 15/07/2022

A new international treaty for the Pillar One reforms will be finalised by mid-2023 for entry into force in 2024.

Crypto / Digital Assets

BOJ to ‘Carefully’ Examine CBDC Impact on Bank Deposits

By Sanday Chongo Kabange | 14/07/2022

A shift away from bank deposits may not occur if banks offer “smooth exchange of CBDC and deposits” and “attractive services related to CBDC”.