Crypto / Digital Assets

Crypto / Digital Assets

BIS Develops Prototype Monitoring Platform for Stablecoins

By Manesh Samtani | 01/08/2024

The Pyxtrial platform provides near real time data about stablecoins’ balance sheets, enabling a more efficient and responsive monitoring process for supervisors.

Crypto / Digital Assets

US Lawmaker Proposes to Create Strategic Bitcoin Reserve

By Editors | 31/07/2024

A Hong Kong lawmaker said including Bitcoin in the city’s strategic financial reserves is something that should be considered.

Big Picture

Stablecoins Weaken Liquidity Ratios of Banks: ECB Paper

By Editors | 31/07/2024

Banks that issue their own stablecoins or collect deposits from stablecoin issuers would see their liquidity ratios decline.

Enforcement

US Authorities Charge Founder of Crypto Firm BitClout

By Editors | 31/07/2024

Nader Al-Naji faces civil and criminal charges for allegedly lying to investors and misappropriating investments for personal expenses and gifts.

AML / KYC

MAS Tightens Licensing Requirements for Payment Services

By Ranamita Chakraborty | 31/07/2024

Applicants must submit a legal opinion, an independent assessment report by an external auditor, and have a governance structure for compliance and AML/CFT oversight.

AML / KYC

Fed Terminates Enforcement Action Against Silvergate Bank

By Editors | 31/07/2024

The enforcement action has been in effect since May 2023 to protect depositors. Silvergate has since completed its liquidation and wind-down plan and paid back depositors.

Crypto / Digital Assets

India to Issue Policy Paper on Crypto ‘Before September’

By Ajoy K Das | 30/07/2024

The paper will include proposals on the scope of cryptocurrency regulations, based on the IMF-FSB roadmap adopted by the G20 last year.

AML / KYC

Interpol Issues Red Notices for Hong Kong Crypto Promoters

By Sanday Chongo Kabange | 30/07/2024

The HKPF had asked Interpol to help locate the crypto promoters over their suspected role in a cryptocurrency deception case.

Crypto / Digital Assets

HKMA Opens Tender for Services to Support CBDC Sandboxes

By Editors | 30/07/2024

Hosting and supporting services would have to support up to 25 participants in the Project Ensemble and e-HKD sandboxes.