CRYPTO / DIGITAL ASSETS

AML / KYC

MAS Adopts FATF Standards on VASPs in Payment Services Act

By Manesh Samtani | 28/12/2019

MAS has proposed amendments will align the Payment Services Act with the most recent enhancements to the FATF Standards in relation to virtual asset service providers.

Crypto / Digital Assets

MAS Consults on Application of Payment Services Act to Stablecoins

By Manesh Samtani | 26/12/2019

MAS seeks views on whether stablecoin holders deserve the same regulatory protections as e-money, and whether other regulations should be introduced to maintain price stability.

Capital / Liquidity

BCBS Addresses Capital Requirements for “Crypto-Assets”

By Douglas Cheung | 23/12/2019

The BCBS consultation will likely give an indication of the banking industry’s mindset towards holding cryptoassets in the future, says Douglas Cheung at Wolters Kluwer.

Fintech / Regtech

Cryptoasset Risk in Misalignment with Investor Profiles: OECD

By Editors | 18/12/2019

New OECD research has found a strong likelihood of misalignment between the risk profiles of some financial consumers and the riskiness of cryptoassets.

AML / KYC

HKMA Asks Banks, SVFs to Assess AML/CFT Risks of VASP Dealings

By Editors | 17/12/2019

Authorised institutions and SVF licensees should conduct appropriate risk assessments to differentiate the risks of the individual virtual asset service providers they deal with, the HKMA says.

AML / KYC

BCBS Solicits Comments on Prudential Treatment for Crypto Assets

By Manesh Samtani | 12/12/2019

The BCBS proposes to allocate direct crypto-asset holdings to the banking book, and indirect exposures to the trading book, while prohibiting the use of internal models to calculate market risk.

Crypto / Digital Assets

Reducing Settlement Cycles – An Asia Pacific Perspective

By Philippe Dirckx | 09/12/2019

Should the decision be taken to further reduce the settlement period, a number of challenges will have to be overcome, says Senfinasia founder Philippe Dirckx.

Crypto / Digital Assets

ASIC Takes Legal Action Against Unregistered SMSF Scheme Operators

By Editors | 05/12/2019

Investors were encouraged to roll superannuation monies into a self-managed super fund to invest – by way of a loan – in an unregistered scheme operated a former AMP adviser.

AML / KYC

OECD Hails Global Anti-Tax Evasion Efforts as ‘Unprecedented Success’

By Editors | 02/12/2019

Last year saw nearly 90 jurisdictions automatically exchange information on 47 million financial accounts, covering total assets of $4.9tn.