CRYPTO / DIGITAL ASSETS

Crypto / Digital Assets

UPDATED – Bitpoint Japan Loses $28m in Crypto in Hot Wallet Hack

By Editors | 15/07/2019

The majority of the stolen funds belonged to clients and were held in hot wallets. Crypto exchanges in Japan are required to hold client assets offline in segregated cold wallets.

Fintech / Regtech

China to Respond to Libra with Government Backed CBDC

By Editors | 11/07/2019

The PBOC is organising market-oriented institutions to jointly research and develop a central bank digital currency, in a programme that has already been approved by the State Council.

Crypto / Digital Assets

Singapore Proposes GST Exemption for Digital Token Payments

By Editors | 09/07/2019

Transactions involving digital tokens or cryptocurrencies that function or are intended to function as a medium of exchange will be exempt from GST.

Fintech / Regtech

Malaysia to Finalise Regulatory Framework for ICOs by Year-End

By Editors | 06/07/2019

A framework for ICOs, originally expected by the end of Q1, is now under review by relevant stakeholders, according to deputy finance minister Datuk Amiruddin Hamzah.

Fintech / Regtech

Asia Ahead of Other Regions in FinTech: IMF

By Editors | 04/07/2019

Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.

Crypto / Digital Assets

Taiwan Targets October Start Date for World’s First STO Rules

By Editors | 02/07/2019

Fundraising through STOs will be capped at TWD300mn; individual investors will be allowed to purchase up to TWD300,000 worth of security tokens.

Capital / Liquidity

FSB Chair Issues Letter to G20 Ahead of Osaka Summit

By Editors | 27/06/2019

The letter reports on the FSB’s work to monitor financial stability risks, reform implementation progress, and market fragmentation issues.

AML / KYC

Facebook’s Libra – An Enabler of Money Laundering?

By Charles Delingpole | 26/06/2019

Regulators need to get up to speed with Facebook’s stablecoin technology so they can assess how it mitigates money laundering risks and where its weaknesses lie, says ComplyAdvantage CEO Charles Delingpole.

AML / KYC

Hong Kong AML/CFT Regime Under FATF Spotlight

By Ralph Cunningham | 24/06/2019

The report on the APG-FATF joint assessment is expected to be published in September, and show that Hong Kong still has some work to do.