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Big Picture
Infrastructure Critical for Successful CBDC Development – Report
By Sanday Chongo Kabange | 22/05/2021
A new report analyses the four axes of consideration for the design features of all CBDCs, as proposed by the IMF, and the implications each choice has on infrastructure.
Big Picture
CBDCs Present Central Banks with Risk-Benefit Trade-off: Fitch
By Sanday Chongo Kabange | 20/05/2021
The potential for funds to move quickly into CBDC accounts could cause credit strains in some banks and push up interest rates.
Crypto / Digital Assets
China Renews Crackdown on Cryptocurrencies
By Manesh Samtani | 19/05/2021
Three state-backed associations representing internet firms, banks, and payments companies have barred their members from providing crypto-related services to customers.
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.
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