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Crypto / Digital Assets
BIS Innovation Hub Announces New Set of Projects
By Editors | 20/06/2022
The first three Eurosystem Centre projects will focus on crypto markets, quantum-resistant cryptography for payments, and climate-related disclosures.
Fintech / Regtech
‘Substantial Changes” Needed to Fully Reap Benefits of DeFi: BIS
By Sanday Chongo Kabange | 19/06/2022
A new BIS bulletin highlights a growing trend in DeFi to rely on forms of centralisation, and a need for it to ultimately fall within the regulatory umbrella.
Fintech / Regtech
BSP Upgrades Infrastructure to Support Big Data Applications
By Editors | 16/06/2022
The BSP plans to start using big data sources and applications in 2023, starting with an index that will analyse online news to gauge the sentiment.
Enforcement
US SEC Penalises Schwab Over Robo-Adviser Disclosures
By Editors | 16/06/2022
High cash balances resulted in lower returns for robo-adviser clients. The effect of this “cash drag” was not disclosed to clients, the SEC said.
AML / KYC
Singapore Trade Finance Registry to Go Live in Q4
By Editors | 16/06/2022
The Association of Banks in Singapore has selected MonetaGo and GUUD to deliver a registry that will prevent duplicate financing and fraud.
Big Picture
HKIMR Explores Pandemic Lessons for Operational Resilience
By Editors | 16/06/2022
Effective implementation of business continuity plans was a key factor contributing to operational resilience, says new report.
AML / KYC
US, UK to Jointly Promote Privacy-Enhancing Tech for AML
By Editors | 15/06/2022
The joint initiative will seek to accelerate the development of privacy-preserving federated learning solutions that can help to combat financial crime.
AML / KYC
Russia Launches Blockchain-Based Alternative to SWIFT
By Editors | 14/06/2022
Russian state-owned firm Rostec said the blockchain-based platform will allow settlements in national currencies and eliminate the risk of sanctions.
AML / KYC
FATF Re-rates UK for Progress on Correspondent Banking
By Editors | 14/06/2022
The FATF also commends the UK for progress made to expand its FIU’s ability to conduct operational analysis.
Crypto / Digital Assets
Australia: New Govt to Push Ahead with BNPL, Crypto Regulation
By Editors | 14/06/2022
The government will also continue a consultation process started by Josh Frydenberg on a regulatory framework for the crypto sector.
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