Crypto / Digital Assets

Crypto / Digital Assets

MiCA Text Published in EU Official Journal

By Karen Ng | 10/06/2023

The provisions on stablecoins will be enforced from 30 June 2024. The provisions for crypto asset service providers will be enforced starting 30 December 2024.

Crypto / Digital Assets

Commonwealth Bank to Restrict Payments To Crypto Exchanges

By Karen Ng | 09/06/2023

Caroline Bowler, head of BTC Markets, warns that the move could push crypto investors to overseas platforms that have fewer protections.

Crypto / Digital Assets

RBI to Make CBDC QR Codes Interoperable With UPI System

By Editors | 09/06/2023

The RBI issued the e-rupee as a pilot project late last year. Deputy governor T Rabi Sankar 1 million customers will be active on the CBDC by end-of-month.

Fintech / Regtech

BIS Develops Smart Contract Prototype for SME Finance

By Editors | 09/06/2023

The prototype was developed as part of Project Dynamo, a collaboration between BIS Innovation Hub and HKMA to explore the use of digital tokens in supply chain finance for SMEs.

Crypto / Digital Assets

Australia Issues New Strategic Plan for Payments System

By Manesh Samtani | 08/06/2023

A new licensing framework will be introduced, including for payment stablecoin issuers. RBA will explore fast payment links with other jurisdictions.

Crypto / Digital Assets

US SEC’s Binance Suit Delays Korea Gopax Acquisition

By Sanday Chongo Kabange | 08/06/2023

The FSC has suspended planned management changes at crypto trading platform Gopax, which was acquired by Binance in February.

Crypto / Digital Assets

MAS Grants Major Payment Institution Licence to Circle

By Ranamita Chakraborty | 07/06/2023

Circle said receiving the licence is a “significant step forward” for the firm and the future of financial infrastructure and dollar digital currencies in Asia.

Crypto / Digital Assets

Hong Kong: Going Digital Caused Scams to Rise 45.1% in 2022

By Karen Ng | 07/06/2023

Data compiled by law firm Freshfield Bruckhaus Deringer shows that Hong Kong deception cases grew 45.1 percent in 2022.

Crypto / Digital Assets

Philippine SEC Delayed Roll-out of Crypto Rules Last Year Due to FTX

By Sanday Chongo Kabange | 07/06/2023

The SEC was ready to issue a new regulatory framework for crypto assets late last year, but decided to delay its release to incorporate lessons from the FTX collapse.