Crypto / Digital Assets

Crypto / Digital Assets

India No Longer Likely to Ban Cryptocurrencies – Report

By Ranamita Chakraborty | 29/10/2021

Finance ministry officials have reportedly said that a law for cryptocurrencies could as soon as February 2022, around the time of India’s next general Budget.

Big Picture

FSB Annual Report Warns of Continued Financial Stability Risk

By Manesh Samtani | 28/10/2021

Sudden sharp movements in asset prices could spill over across the financial system and the unwinding of policy support could prompt insolvencies and credit losses.

Fintech / Regtech

Nigeria Launches Central Bank Digital Currency, eNaira

By Editors | 27/10/2021

The eNaira is expected to boost cross-border trade and financial inclusion, improve transaction efficiency, and make monetary policy more effective.

AML / KYC

FATF Concludes Plenary, Finalises Work in Key Areas

By Manesh Samtani | 23/10/2021

The FATF will issue updated guidance for VASPs next week. A statement on Afghanistan was released. Beneficial ownership and cross-border payments also in focus.

AML / KYC

Australia Senate Report Proposes New Crypto Licensing Regime

By Manesh Samtani | 21/10/2021

The committee recommends a new category of market licence be created for crypto exchanges and a new company structure for DeFi platforms.

Crypto / Digital Assets

NYSE Launches First US ETF Linked to Bitcoin with SEC Approval

By Sanday Chongo Kabange | 21/10/2021

The ProShares bitcoin ETF had almost $1bn in turnover on the first trading day, after receiving a green light from the SEC last week.

Enforcement

CFTC Fines Tether as US Regulators Scrutinise Crypto Markets

By Mark Johnston | 21/10/2021

The CFTC has fined Tether $41mn and Bitfinex’s parent $1.5mn. Meanwhile New York prosecutors have directed two crypto lending platforms to cease operations.

Big Picture

Crypto Asset Regulation “A Matter Of Urgency”, says BOE

By Mark Johnston | 18/10/2021

Deputy governor Jon Cunliffe says a “plausible scenario” involving a collapse in crypto-asset prices would have financial stability implications.

Crypto / Digital Assets

ASIC Seeks Extension of CFD Product Intervention Order to 2031

By Sanday Chongo Kabange | 18/10/2021

ASIC says there were 45 percent fewer loss-making retail client accounts and losses were smaller as a result of its October 2020 product intervention order.