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Crypto / Digital Assets
BOE Publishes Primer Explaining Plans for Possible CBDC
By Editors | 09/06/2022
The BOE will seek views from the public later this year about the possible issuance of a CBDC in the “second half of the decade” at the earliest.
Crypto / Digital Assets
NYDFS Issues Regulatory Guidance for Stablecoin Issuers
By Editors | 09/06/2022
The guidance outlines criteria specifically addressing stablecoin redeemability, asset reserve requirements, and independent audit requirements.
Crypto / Digital Assets
US SEC Reportedly Probing Binance 2017 Token Offering
By Editors | 09/06/2022
The SEC is also investigating market making companies owned by Binance’s CEO and whether company insiders may have engaged in trading abuses.
AML / KYC
DOJ Calls for Stronger International Cooperation on Crypto Crime
By Editors | 08/06/2022
The paper says the US should help foreign nations develop the tools, technical expertise, and infrastructure necessary to conduct complex crypto-related investigations.
Crypto / Digital Assets
Investment Scams On the Rise in Australia: ACCC
By Editors | 08/06/2022
Australia has seen a sharp increase in investment scams this year. Text messages have become the most common scam contact mode.
Crypto / Digital Assets
US Senators Propose Regulatory Framework for Crypto Assets
By Manesh Samtani | 08/06/2022
The CFTC would be granted authority over crypto spot markets, based on the understanding that “most digital assets are more similar to commodities than securities”.
Crypto / Digital Assets
BIS Paper Explains Why Crypto Cannot Function as Money
By Editors | 08/06/2022
Fragmentation without interoperability implies that cryptocurrencies cannot fulfil the role of money as a coordination device, the paper says.
Crypto / Digital Assets
Hong Kong SFC Issues Warning on NFT-related Risks
By Editors | 06/06/2022
Some NFTs have ‘crossed the boundary’ between a collectible and a financial asset, which would bring them under the SFC’s remit and require licensing.
AML / KYC
EU Proposes to Make AML Compliance a Licence Condition
By Editors | 05/06/2022
EBA, EIOPA and ESMA propose that AML/CTF compliance be a specific requirement for firms, including crypto firms, to obtain and maintain their licences.
Crypto / Digital Assets
Japan Approves Law Clarifying Legal Status of Stablecoins
By Manesh Samtani | 05/06/2022
Under the revision bill, only licensed banks, trust companies, and registered money transfer agents will be able to issue stablecoins.
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