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Big Picture
BIS Turns Attention to Practical Issues of Retail CBDC
By Editors | 30/09/2021
The BIS and seven central banks have published three new reports exploring practical policy and implementation issues of general purpose CBDCs.
AML / KYC
Korean VASPs Barred From Trading Native Tokens
By Sanday Chongo Kabange | 29/09/2021
A new conflict of interest rule bars VASPs from trading native tokens and their staff from trading virtual assets on their own platforms.
Fintech / Regtech
Entity-based Regulation Needed to Address Bigtech Risks: BIS
By Manesh Samtani | 29/09/2021
China’s financial holding company regime represents a novel entity-based regulatory approach for big techs, says a new BIS research paper.
Big Picture
OECD Calls on Financial Sector to Bolster Trust in AI
By Sanday Chongo Kabange | 29/09/2021
A new OECD report identifies four determinants of trustworthy AI in the financial sector – transparency, fairness, data governance and accountability.
Fintech / Regtech
Central Banks Create Prototype Platform for mCBDC Settlements
By Sanday Chongo Kabange | 28/09/2021
The prototype platform was able to complete international transfers and foreign exchange operations in seconds while also lowering the cost of cross-border operations.
Fintech / Regtech
HKMA Issues Guide on Regtech Adoption for GRC
By Sanday Chongo Kabange | 28/09/2021
The guide outlines common challenges associated with regtech adoption for GRC and describes how successful firms have addressed these challenges.
ESG / Sustainability
SGX-Temasek JV to Launch Issuer Services Platform in Q4 2021
By Editors | 27/09/2021
Marketnode has established partnerships with 10 FIs to facilitate the launch of the new platform, which is part of a new digital infrastructure for fixed income.
AML / KYC
Korea: 29 Crypto Exchanges Meet Registration Deadline
By Manesh Samtani | 26/09/2021
The applications will be processed within three months, following which approved exchanges will be subject to AML rules announced in March.
AML / KYC
Crypto Should Re-examine Relationship with Regulators, and Vice Versa
By Andy Meehan | 25/09/2021
Andy Meehan says greater collaboration is needed between industry players and regulators to advance ‘sensible’ regulation and ensure the public is properly educated.
Crypto / Digital Assets
PBOC Intensifies Crackdown on Cryptocurrency Activity
By Editors | 25/09/2021
Services for virtual currency transactions are deemed illegal, including those provided to Chinese residents by overseas crypto exchanges.
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