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.

Crypto / Digital Assets

Korea FSS Probes Use of Crypto by Payment Firms

By Manesh Samtani | 04/06/2022

Regulators also plan to launch a ‘Digital Assets Committee’ this month to bring additional safeguards and regulatory structure to Korea’s crypto industry.

Crypto / Digital Assets

CFTC Files Suit Against Winklevoss-founded Crypto Exchange

By Editors | 03/06/2022

The CFTC says Gemini misled the regulator about whether it could prevent manipulation in the prices used as a benchmark for a bitcoin futures contract.

Crypto / Digital Assets

Fed Explores CBDC Impacts on Monetary Policy Implementation

By Manesh Samtani | 02/06/2022

CBDC withdrawals could reduce bank reserves, which would result in competition for funding, higher interest rates, and ultimately a larger Fed balance sheet.

Crypto / Digital Assets

UnionBank Issues Philippines’ First DLT-based Digital Bond

By Editors | 02/06/2022

The issuance follows a POC project to optimise bond issuance workflows between STACS and PDTC, the Philippines’ national CSD for debt and equities.

Crypto / Digital Assets

Ex-OpenSea Employee Charged for Insider Trading in NFTs

By Editors | 02/06/2022

The former product manager traded on confidential information about which NFTs were going to be featured by OpenSea’s website.

Crypto / Digital Assets

UK Proposes Framework for Dealing with Stablecoin Failures

By Editors | 02/06/2022

HM Treasury proposes to give the BOE powers to appoint administrators to oversee insolvency arrangements with failed stablecoin issuers.

Crypto / Digital Assets

BOJ Releases Phase One Findings from CBDC Testing

By Editors | 01/06/2022

Phase one of CBDC experimentation was conducted from April 2021 to March 2022. The BOJ tested three CBDC ledger design alternatives.

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