Crypto / Digital Assets

Fintech / Regtech

Hong Kong FSTB Issues Policy Statement on Approach to Virtual Assets

By Manesh Samtani | 31/10/2022

The SFC will be consulting on how retail investors may be given a “suitable degree of access” to virtual assets under Hong Kong’s new licensing regime.

Crypto / Digital Assets

BOT Expects Retail CBDC Launch to Take At Least Five Years

By Editors | 31/10/2022

The BOT expects to begin testing retail CBDC applications with the private sector in December. Ahead of the tests, the BOT is inviting firms to suggest “interesting use cases”.

Crypto / Digital Assets

SGX-owned MaxxTrader Partners with DBS on Digital Assets

By Editors | 30/10/2022

DBS said the partnership enables it to provide more dynamic pricing, financing, and risk solutions to investors, which contributes to Singapore’s growing influence as a global digital asset hub.

Crypto / Digital Assets

UK Lawmakers to Extend FCA Remit to Cover All Crypto

By Editors | 30/10/2022

An amendment to the Financial Services and Markets Bill will empower the FCA to regulate crypto promotions and ban companies that are not authorised to operate in the UK.

AML / KYC

Korea to Increase Scrutiny of Money Laundering Risks via Crypto

By Editors | 27/10/2022

The FSC will increase scrutiny of crypto tokens listed by just a single VASP, stablecoin transaction volumes, and customers making large deposits.

Capital / Liquidity

MAS Proposes New Rules for Crypto Firms, Stablecoin Issuers

By Manesh Samtani | 27/10/2022

Retail investors won’t be allowed leverage and will have to undergo a knowledge test. Stablecoin issuers will have strict rules on reserve assets and a S$1bn capital requirement.

Crypto / Digital Assets

BIS Innovation Hub Releases mBridge Report, Sets Out Next Steps

By Editors | 27/10/2022

The mBridge project team will continue working to get to a minimum viable product that can be used by early adopters next year.

Crypto / Digital Assets

Japan Credit Bureau to Develop CBDC Payments Solution

By Editors | 26/10/2022

JBC, IDEMIA and Soft Space plan to develop a CBDC payment solution and conduct a pilot test with Tokyo merchants.

Crypto / Digital Assets

ASIC Files Suit Over Misleading Claims by Crypto Firm

By Editors | 26/10/2022

ASIC said BPS Financial engaged in unlicensed conduct and made false, misleading or deceptive representations about a crypto token called Qoin.