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Crypto / Digital Assets
Crypto / Digital Assets
FSC Korea Proposes Rules to Protect Virtual Asset Users
By Manesh Samtani | 12/12/2023
VASPs must store at least 80% of customers’ virtual assets in cold wallets, purchase liability insurance, hold reserves, and monitor for abnormal transactions.
Enforcement
Binance’s CZ Zhao Now Required to Remain in US Until Sentencing
By Editors | 11/12/2023
Initially, a magistrate judge appeared to be allowing Zhao to leave the US until his sentencing hearing in February. A district court judge has reversed this ruling.
Market Infrastructure
RBI in Talks With HK, US on Cross-border CBDC Payments
By Ajoy K Das | 08/12/2023
The RBI has set up a working group to create a roadmap for settling international remittances using CBDCs.
Crypto / Digital Assets
Taiwan Considers Platform Design for Possible Future CBDC
By Editors | 08/12/2023
Taiwan’s central bank has completed a wholesale CBDC feasibility and technology study but has not yet decided whether to introduce a CBDC.
Capital / Liquidity
BCBS Says it Will Launch Three New Consultations
By Manesh Samtani | 08/12/2023
The consultations will deal with the standards for crypto assets, interest rate risk in the banking book, and window-dressing by G-SIBs.
Crypto / Digital Assets
Singapore, China Announce New Bilateral Cooperation Agreements
By Manesh Samtani | 08/12/2023
The agreements include a cross-border e-CNY pilot, a possible PayNow-UnionPay linkage, and an MoU between SGX and GFEX.
Crypto / Digital Assets
Solomon Islands Central Bank Starts Testing CBDC
By Editors | 08/12/2023
The central bank is testing the CBDC for retail transactions, P2P transfers, interbank transactions, and cross-border payments.
Crypto / Digital Assets
Japan Prepares to Relax Crypto Taxation Policies
By Editors | 08/12/2023
The reforms will allow corporations to hold crypto assets without being taxed on unrealised gains at the end of each year.
Crypto / Digital Assets
US Authorities Secure Guilty Plea from Crypto Founder
By Editors | 07/12/2023
Anatoly Legkodymov pleaded guilty to operating Hong Kong-registered Bitzlato as a money transmitting business that allowed criminals to launder illicit proceeds.
Uncategorised
HK SFC Adds Two New Suspicious VATPs on Alert List
By Sanday Chongo Kabange | 07/12/2023
The SFC has warned the public to be wary of two suspicious VATPs – HongKongDAO and BitCuped – and asked the police to block them.
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