FINTECH / REGTECH

Crypto / Digital Assets

Thai SEC Proposes Rules to Protect Custodied Digital Assets

By Pongnut Thanaboonchai | 30/08/2021

The SEC has proposed new additional requirements for digital asset businesses regarding the custody of clients’ assets, both fiat money and cryptocurrency.

Fintech / Regtech

ABS Offers Standardised Approach to Bank Data Sharing

By Manesh Samtani | 30/08/2021

A new Data Sharing Handbook provides a framework for banks and non-bank ecosystem partners to share data in a safe, secure and responsible manner.

Big Picture

IMF Spotlights Legal Challenges of Fintech for Central Banks

By Sanday Chongo Kabange | 30/08/2021

A new IMF paper discusses the impacts fintech will have on currency issuance, monetary policy implementation, and payment system soundness, among other functions of a central bank.

Fintech / Regtech

MAS Announces Finalists for Global CBDC Challenge

By Editors | 30/08/2021

The finalists include ANZ, Citibank, Consensys, HSBC, IBM, Soramitsu, Standard Chartered, among others. They will progress to an eight-week Acceleration Phase to further develop and refine their solutions.

AML / KYC

FSC Korea Confirms Plans for Dedicated Crypto Bureau at KoFIU

By Manesh Samtani | 26/08/2021

24 of the 63 crypto exchanges operating in Korea have not yet applied for ISMS certification, a KoFIU registration requirement that takes months to obtain.

Fintech / Regtech

US SEC Seeks Regulatory Oversight Over DeFi Platforms

By Pongnut Thanaboonchai | 26/08/2021

SEC chairman Gary Gensler likens DeFi to P2P lending.  In 2008, the SEC said promissory notes issued to P2P investors were securities.

AML / KYC

Screening Financial Instruments for Investment-related Sanctions Risk

By Manesh Samtani | 26/08/2021

Refinitiv identified over 190,000 financial instruments relevant to the US investment ban against Non-SDN Chinese Military-Industrial Complex Companies as of 28 July.

Crypto / Digital Assets

Japan: Crypto Firm Liquid Resumes Services Following $97m Hack

By Editors | 25/08/2021

Liquid has been tracing the movement of the stolen assets and working with other exchanges to freeze and recover the funds.

Fintech / Regtech

BOT Confirms Plans to Pilot Retail CBDC in Q2 2022

By Sanday Chongo Kabange | 24/08/2021

The CBDC will be cash-like and non-interest-bearing, to ensure that it does not compete with deposits or cause runs on financial institutions.