Fintech / Regtech

Market Infrastructure

PBOC Develops Blockchain System to Digitise Paper Checks

By JP Reimann | 07/06/2018

Central bank to reduce fraud by tokenising checks with blockchain and having operations conducted by smart contracts; new system will remove manual cross-checking process, shorten transaction times to about 3 seconds.

Crypto / Digital Assets

Indonesia Recognises Cryptocurrencies As Commodities

By Garima Chitkara | 07/06/2018

Commodities regulator reportedly introducing futures trading in crypto even as Indonesia’s financial services regulator continues to bar financial firms from trading in any crypto-based instruments.

AML / KYC

Cryptocurrency in APAC: Opportunity, Challenge, and Risk

By David Liu | 06/06/2018

Financial institutions are at risk from the inherently opaque nature of cryptocurrency transactions, and require robust compliance programs to mitigating legal, financial, reputational, and regulatory risks.

Fintech / Regtech

Singapore, India Establish Joint Working Group on FinTech

By Karen Chiu | 06/06/2018

Joint working group to foster closer fintech cooperation, including through real-time cross border fund transfers and links between payment system operators.

Securities / Derivatives

Taiwan to Launch Crude Oil Futures in July

By Manesh Samtani | 05/06/2018

Taiwan Futures Exchange chairman says crude oil futures will allow domestic investors to trade without adverse currency fluctuations; also exploring the application of fintech and other technologies for clearing services.

Crypto / Digital Assets

HKMA Finalises Virtual Bank Rules, Applications Now Open

By JP Reimann | 01/06/2018

Regulator publishes final guidelines but no change in capital requirements; companies seeking inclusion in first batch of virtual bank applications can apply by 31 August.

Big Picture

The Ties That Bind: Market Connectivity Continues to Increase Despite Opposing Rhetoric

By Larry Thompson | 30/05/2018

Whether it is geopolitical tensions in North Asia, the UK’s exit from the European Union or new U.S. trade policies, globalisation would appear to many to be in retreat in many regions of the world — but this is not the case in financial markets.

Crypto / Digital Assets

MAS Warns Eight Crypto Exchanges, Halts ICO Issuer

By JP Reimann | 28/05/2018

Exchanges warned against facilitating trading in digital tokens which constitute securities or futures contracts without MAS authorisation; ICO representing equity ownership halted.

AML / KYC

India’s Supreme Court to Hear All Crypto Related Cases

By Manesh Samtani | 25/05/2018

Several petitions received by courts challenging constitutional validity of RBI order barring banks from crypto dealings; next Supreme Court hearing scheduled for 20 July.