Sanctions

AML / KYC

Myanmar Considers Joining SPFS, Russia’s SWIFT Alternative

By Editors | 21/06/2022

Myanmar is negotiating the possibility of joining SPFS, an alternative to SWIFT, as well as the use of Russian Mir cards in Asia.

Market Infrastructure

HKEX to Enhance Clearing Flexibility for Stock Trades – Report

By Editors | 21/06/2022

HKEX plans to allow market participants to appoint multiple clearing banks for stock trades, a move already made for futures traders.

Securities / Derivatives

Russian Exchange Starts Offering Trading in 12 Hong Kong Stocks

By Editors | 21/06/2022

HKEX is not involved in the initiative. The move is part of the Saint Petersburg Stock Exchange’s global issuer programme.

Sanctions

Myanmar Grants Exemptions to FX Conversion Rule Ban

By Editors | 17/06/2022

Myanmar is granting granted an exemption to select companies involved in FDI approved by the Myanmar Investment Commission.

AML / KYC

UK OFSI Gets Stronger Powers to Punish Sanctions Breaches

By Editors | 16/06/2022

OFSI will no longer have to prove a person had knowledge or reasonable cause to suspect they were in breach of sanctions to impose a civil penalty.

AML / KYC

Russia Launches Blockchain-Based Alternative to SWIFT

By Editors | 14/06/2022

Russian state-owned firm Rostec said the blockchain-based platform will allow settlements in national currencies and eliminate the risk of sanctions.

AML / KYC

OFAC Blocks Secondary Market Trading in Russian Debt, Equity

By Editors | 12/06/2022

To date, only the purchase of new issues has been prohibited, and trading in secondary markets has still been allowed.

Crypto / Digital Assets

NYDFS Issues Regulatory Guidance for Stablecoin Issuers

By Editors | 09/06/2022

The guidance outlines criteria specifically addressing stablecoin redeemability, asset reserve requirements, and independent audit requirements.

AML / KYC

DOJ Calls for Stronger International Cooperation on Crypto Crime

By Editors | 08/06/2022

The paper says the US should help foreign nations develop the tools, technical expertise, and infrastructure necessary to conduct complex crypto-related investigations.