FINTECH / REGTECH

Big Picture

Conduct Risk Management Shifts to ‘Predict and Prevent’ Approach

By Manesh Samtani | 18/05/2021

In its annual Compendium on culture and conduct risk supervision, Starling highlights a shift from ‘detect and correct’ to ‘predict and prevent’.

Crypto / Digital Assets

RBI Asks Banks to Cut Ties With Cryptocurrency Exchanges

By Sanday Chongo Kabange | 17/05/2021

The unofficial guidance comes as Indian lawmakers look to introduce a ban on cryptocurrencies and penalise anyone dealing in them.

Fintech / Regtech

BOK Seeks Authority to Monitor Crypto Transactions – Report

By Sanday Chongo Kabange | 15/05/2021

The BOK plans to use existing authorities to monitor crypto transactions, amid fears that risks in the sector could flow to the broader financial system.

Fintech / Regtech

HKMA, PBOC In Talks on Next Phase of Digital Yuan Tests

By Sanday Chongo Kabange | 15/05/2021

The next phase of technical testing will explore the feasibility of using the digital yuan in cross-border payments.

Fintech / Regtech

HKMA Sets Out Next Steps to Implement Open API Framework

By Manesh Samtani | 13/05/2021

Phase 3 and 4 API functions will be implemented progressively by 28 participating banks starting from December 2021, the HKMA says.

Big Picture

SWIFT, Accenture Explore Real-world Implications of CBDCs

By Sanday Chongo Kabange | 13/05/2021

SWIFT is planning trials in the coming months to explore how its platform could interact with CBDCs in cross-border payments.

AML / KYC

Korean Lawmakers Push for Tougher Crypto Legislation

By Sanday Chongo Kabange | 11/05/2021

Lawmakers are pushing for tougher crypto legislation to protect crypto investors against unfair practices and price manipulation.

Enforcement

FSC Taiwan to Order LINE Bank to Improve Operations

By Sanday Chongo Kabange | 11/05/2021

The FSC says LINE Bank’s report explaining its launch day system failure was not satisfactory. The regulator will ask the bank improves its operations.

Big Picture

WEF Publishes Report Outlining Capital Market Use Cases of DLT

By Sanday Chongo Kabange | 10/05/2021

The report calls for a balance between innovation and market safeguards through standardisation, the breaking down of silos and regulatory engagement.