FINTECH / REGTECH

AML / KYC

DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021

By Sanday Chongo Kabange | 11/08/2021

In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.

AML / KYC

BSP to Finalise Members of Open Finance Body This Year

By Sanday Chongo Kabange | 10/08/2021

The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.

Fintech / Regtech

Cambodia Explores Cross-border Transactions Using ‘Bakong’

By Editors | 10/08/2021

Cambodia launched its Bakong digital currency in October 2020. In the first half of 2021, 1.4 million transactions worth $500mn were recorded.

Fintech / Regtech

Bank of Korea CBDC Pilot to Kick off This Month

By Editors | 09/08/2021

Ground X, Kakaobank, Kakao Pay, Consensys, Samsung and Onther are among the firms that will participate in the pilot. Phase one will be complete by December.

Market Infrastructure

CPMI Workplan Highlights Focus on Stablecoins, CBDCs

By Editors | 06/08/2021

CPMI annual work programme highlights cross-border payments, stablecoins, CBDCs, central clearing and FMI risks as key priorities.

AML / KYC

MAS Finalising New Data-sharing Platform for Banks

By Manesh Samtani | 05/08/2021

The new platform will enable banks to securely share information on customers exhibiting significant risk red flags and warn each other of potential criminal activity.

Fintech / Regtech

S. Korea Sets New MyData Launch Date in Revised Guidelines

By Ranamita Chakraborty | 05/08/2021

The revised guidelines enhance consumer data protections. MyData businesses will begin offering services via standardised APIs from 1 December 2021.

AML / KYC

China’s Opposition to Cryptocurrency is Ideological – Report

By Manesh Samtani | 05/08/2021

A new Chainalysis report explains China’s crackdown on cryptocurrency, the country’s role in crypto-related crime, and the implications of a digital yuan.

AML / KYC

Korean Crypto Exchanges Start to Close Amid Regulatory Pressure

By Editors | 04/08/2021

Up to 11 cryptocurrency exchanges in Korea are planning to shut down after their deposit accounts were linked to fraudulent activities.